Bank of America Increases Domino’s Pizza (NYSE:DPZ) Price Target to $582.00

Domino’s Pizza (NYSE:DPZ) had its price objective lifted by Bank of America from $577.00 to $582.00 in a report issued on Friday morning, Benzinga reports. The firm currently has a buy rating on the restaurant operator’s stock.

Several other brokerages have also commented on DPZ. The Goldman Sachs Group began coverage on shares of Domino’s Pizza in a research note on Thursday, June 13th. They issued a buy rating and a $612.00 price target on the stock. Royal Bank of Canada lowered their target price on Domino’s Pizza from $575.00 to $500.00 and set an outperform rating on the stock in a research report on Wednesday, July 24th. Wedbush reiterated an outperform rating and set a $575.00 price target on shares of Domino’s Pizza in a research report on Monday, July 15th. Oppenheimer lowered their price target on Domino’s Pizza from $510.00 to $490.00 and set an outperform rating on the stock in a report on Friday, September 6th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Domino’s Pizza from $580.00 to $500.00 and set a buy rating on the stock in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $504.03.

Domino’s Pizza Price Performance

Shares of DPZ opened at $409.95 on Friday. Domino’s Pizza has a 12 month low of $332.13 and a 12 month high of $542.75. The stock has a fifty day moving average price of $422.65 and a 200 day moving average price of $470.98. The company has a market cap of $14.30 billion, a P/E ratio of 26.76, a PEG ratio of 2.21 and a beta of 0.86.

Domino’s Pizza (NYSE:DPZ) last released its quarterly earnings results on Thursday, July 18th. The restaurant operator reported $4.03 EPS for the quarter, topping the consensus estimate of $3.68 by $0.35. Domino’s Pizza had a net margin of 12.42% and a negative return on equity of 14.22%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the firm earned $3.08 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, research analysts anticipate that Domino’s Pizza will post 16.24 earnings per share for the current year.

Domino’s Pizza Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $1.51 per share. The ex-dividend date was Friday, September 13th. This represents a $6.04 annualized dividend and a yield of 1.47%. Domino’s Pizza’s payout ratio is presently 39.43%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Domino’s Pizza by 5.8% during the first quarter. Vanguard Group Inc. now owns 4,098,664 shares of the restaurant operator’s stock valued at $2,036,544,000 after acquiring an additional 222,949 shares during the period. Coatue Management LLC purchased a new stake in shares of Domino’s Pizza in the fourth quarter worth approximately $322,859,000. Marshfield Associates boosted its holdings in shares of Domino’s Pizza by 0.3% during the second quarter. Marshfield Associates now owns 713,481 shares of the restaurant operator’s stock worth $368,392,000 after purchasing an additional 2,271 shares during the period. TD Asset Management Inc grew its position in Domino’s Pizza by 27.8% during the first quarter. TD Asset Management Inc now owns 635,335 shares of the restaurant operator’s stock valued at $315,685,000 after purchasing an additional 138,224 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Domino’s Pizza by 107.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 444,780 shares of the restaurant operator’s stock valued at $221,003,000 after buying an additional 230,090 shares during the period. 94.63% of the stock is currently owned by institutional investors and hedge funds.

About Domino’s Pizza

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.