Corebridge Financial Inc. Has $3.59 Million Stock Position in Domino’s Pizza, Inc. (NASDAQ:DPZ)

Corebridge Financial Inc. lessened its position in Domino’s Pizza, Inc. (NASDAQ:DPZ) by 4.0% in the fourth quarter, HoldingsChannel reports. The fund owned 8,558 shares of the restaurant operator’s stock after selling 358 shares during the quarter. Corebridge Financial Inc.’s holdings in Domino’s Pizza were worth $3,592,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Berkshire Hathaway Inc acquired a new stake in Domino’s Pizza in the 3rd quarter valued at $549,399,000. Vaughan Nelson Investment Management L.P. bought a new position in shares of Domino’s Pizza in the fourth quarter valued at $41,701,000. Raymond James Financial Inc. acquired a new position in shares of Domino’s Pizza during the fourth quarter valued at about $32,592,000. Country Trust Bank bought a new stake in shares of Domino’s Pizza during the fourth quarter worth about $29,424,000. Finally, Tidal Investments LLC increased its position in shares of Domino’s Pizza by 737.1% during the third quarter. Tidal Investments LLC now owns 57,441 shares of the restaurant operator’s stock worth $24,708,000 after acquiring an additional 50,579 shares in the last quarter. Institutional investors own 94.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on DPZ. TD Securities reiterated a “buy” rating and set a $490.00 price target on shares of Domino’s Pizza in a research note on Monday, February 24th. Royal Bank of Canada restated an “outperform” rating and issued a $500.00 target price on shares of Domino’s Pizza in a report on Thursday, February 20th. Morgan Stanley decreased their price target on Domino’s Pizza from $510.00 to $496.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. TD Cowen restated a “buy” rating and set a $490.00 price objective on shares of Domino’s Pizza in a research note on Monday, February 24th. Finally, Citigroup upped their target price on shares of Domino’s Pizza from $440.00 to $520.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $503.41.

Domino’s Pizza Stock Down 5.1 %

Shares of NASDAQ:DPZ opened at $447.12 on Monday. The company has a 50-day moving average price of $459.46 and a two-hundred day moving average price of $441.65. Domino’s Pizza, Inc. has a twelve month low of $396.06 and a twelve month high of $542.75. The firm has a market capitalization of $15.33 billion, a PE ratio of 27.46, a P/E/G ratio of 2.47 and a beta of 1.06.

Domino’s Pizza (NASDAQ:DPZ) last released its quarterly earnings data 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). The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Domino’s Pizza had a net margin of 12.26% and a negative return on equity of 14.35%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.48 earnings per share. Analysts anticipate that Domino’s Pizza, Inc. will post 16.74 earnings per share for the current fiscal year.

Domino’s Pizza Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $1.74 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.96 annualized dividend and a yield of 1.56%. This is an increase from Domino’s Pizza’s previous quarterly dividend of $1.51. Domino’s Pizza’s dividend payout ratio (DPR) is currently 41.70%.

Insider Buying and Selling at Domino’s Pizza

In related news, EVP Kevin Scott Morris sold 5,416 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $437.00, for a total transaction of $2,366,792.00. Following the completion of the transaction, the executive vice president now directly owns 793 shares in the company, valued at $346,541. The trade was a 87.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Reddy Sandeep sold 1,077 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $443.20, for a total value of $477,326.40. Following the completion of the sale, the chief financial officer now directly owns 8,081 shares in the company, valued at approximately $3,581,499.20. The trade was a 11.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,597 shares of company stock valued at $3,762,052 in the last quarter. 0.83% of the stock is currently owned by corporate insiders.

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.