State of Michigan Retirement System Sells 100 Shares of Domino’s Pizza, Inc. (NASDAQ:DPZ)

State of Michigan Retirement System lowered its stake in shares of Domino’s Pizza, Inc. (NASDAQ:DPZ) by 1.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,380 shares of the restaurant operator’s stock after selling 100 shares during the period. State of Michigan Retirement System’s holdings in Domino’s Pizza were worth $3,937,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Sherman Asset Management Inc. bought a new position in Domino’s Pizza in the fourth quarter valued at about $25,000. True Wealth Design LLC lifted its stake in shares of Domino’s Pizza by 2,033.3% in the 3rd quarter. True Wealth Design LLC now owns 64 shares of the restaurant operator’s stock worth $28,000 after purchasing an additional 61 shares during the period. Rakuten Securities Inc. lifted its stake in shares of Domino’s Pizza by 195.6% in the 3rd quarter. Rakuten Securities Inc. now owns 133 shares of the restaurant operator’s stock worth $57,000 after purchasing an additional 88 shares during the period. Private Trust Co. NA lifted its stake in shares of Domino’s Pizza by 34.3% in the 4th quarter. Private Trust Co. NA now owns 145 shares of the restaurant operator’s stock worth $61,000 after purchasing an additional 37 shares during the period. Finally, Allworth Financial LP lifted its stake in shares of Domino’s Pizza by 37.6% in the 4th quarter. Allworth Financial LP now owns 150 shares of the restaurant operator’s stock worth $66,000 after purchasing an additional 41 shares during the period. Institutional investors own 94.63% of the company’s stock.

Analyst Upgrades and Downgrades

DPZ has been the topic of several recent research reports. Morgan Stanley decreased their price target on shares of Domino’s Pizza from $510.00 to $496.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 21st. TD Cowen reaffirmed a “buy” rating and issued a $490.00 target price on shares of Domino’s Pizza in a report on Monday, February 24th. Oppenheimer raised their target price on Domino’s Pizza from $490.00 to $495.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $500.00 price objective on shares of Domino’s Pizza in a research note on Thursday, February 20th. Finally, Robert W. Baird decreased their price objective on Domino’s Pizza from $545.00 to $510.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $503.41.

Domino’s Pizza Stock Performance

Shares of DPZ opened at $472.05 on Friday. The company’s fifty day moving average is $448.94 and its 200 day moving average is $437.35. Domino’s Pizza, Inc. has a fifty-two week low of $396.06 and a fifty-two week high of $542.75. The stock has a market capitalization of $16.19 billion, a PE ratio of 29.00, a P/E/G ratio of 2.47 and a beta of 1.06.

Domino’s Pizza (NASDAQ:DPZ) last posted its earnings results on Monday, February 24th. The restaurant operator reported $4.89 earnings per share for the quarter, missing analysts’ consensus estimates of $4.93 by ($0.04). Domino’s Pizza had a negative return on equity of 14.35% and a net margin of 12.26%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the firm earned $4.48 earnings per share. The business’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, research analysts forecast that Domino’s Pizza, Inc. will post 16.74 earnings per share for the current year.

Domino’s Pizza Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $1.74 per share. This is a boost from Domino’s Pizza’s previous quarterly dividend of $1.51. This represents a $6.96 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Friday, March 14th. Domino’s Pizza’s payout ratio is presently 41.70%.

Domino’s Pizza Profile

Domino’s Pizza, Inc, through its subsidiaries, operates as a pizza company in the United States and internationally. The company operates through three segments: U.S. Stores, International Franchise, and Supply Chain. It offers pizzas under the Domino’s brand name through company-owned and franchised stores.