Citigroup Lowers Domino’s Pizza (NASDAQ:DPZ) Price Target to $420.00

Domino’s Pizza (NASDAQ:DPZ) had its target price dropped by equities research analysts at Citigroup from $460.00 to $420.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the restaurant operator’s stock. Citigroup’s price target indicates a potential upside of 10.87% from the stock’s previous close.

Several other brokerages have also commented on DPZ. BTIG Research reaffirmed a “buy” rating and issued a $530.00 price target on shares of Domino’s Pizza in a research note on Friday, November 14th. TD Cowen cut Domino’s Pizza from a “buy” rating to a “hold” rating in a report on Monday, January 5th. Morgan Stanley reissued an “equal weight” rating and set a $455.00 price target (down previously from $535.00) on shares of Domino’s Pizza in a research report on Tuesday, January 20th. Stifel Nicolaus reduced their target price on shares of Domino’s Pizza from $510.00 to $485.00 and set a “buy” rating on the stock in a report on Wednesday, January 7th. Finally, Evercore dropped their price target on shares of Domino’s Pizza from $510.00 to $490.00 and set an “outperform” rating for the company in a research note on Thursday, January 8th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $478.33.

Domino’s Pizza Trading Down 2.8%

DPZ stock traded down $10.90 during trading on Wednesday, reaching $378.83. 267,916 shares of the stock were exchanged, compared to its average volume of 742,380. The business has a 50 day moving average price of $414.47 and a 200-day moving average price of $425.40. Domino’s Pizza has a 1 year low of $377.29 and a 1 year high of $500.55. The firm has a market capitalization of $12.80 billion, a price-to-earnings ratio of 22.09, a P/E/G ratio of 1.85 and a beta of 1.15.

Insider Buying and Selling

In related news, EVP Kelly E. Garcia sold 4,870 shares of the stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $434.06, for a total value of $2,113,872.20. Following the transaction, the executive vice president owned 6,744 shares of the company’s stock, valued at $2,927,300.64. This represents a 41.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.83% of the stock is owned by company insiders.

Hedge Funds Weigh In On Domino’s Pizza

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Domino’s Pizza by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 4,047,026 shares of the restaurant operator’s stock worth $1,823,590,000 after buying an additional 36,288 shares during the last quarter. Berkshire Hathaway Inc raised its stake in Domino’s Pizza by 13.2% during the 3rd quarter. Berkshire Hathaway Inc now owns 2,981,945 shares of the restaurant operator’s stock worth $1,287,335,000 after acquiring an additional 348,077 shares in the last quarter. Principal Financial Group Inc. raised its stake in Domino’s Pizza by 1.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,762,568 shares of the restaurant operator’s stock worth $760,939,000 after acquiring an additional 30,647 shares in the last quarter. Geode Capital Management LLC boosted its stake in Domino’s Pizza by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 1,026,391 shares of the restaurant operator’s stock valued at $432,033,000 after acquiring an additional 19,019 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Domino’s Pizza by 9.3% during the third quarter. Invesco Ltd. now owns 919,830 shares of the restaurant operator’s stock worth $397,100,000 after purchasing an additional 78,594 shares during the last quarter. 94.63% of the stock is owned by institutional investors and hedge funds.

Domino’s Pizza Company Profile

Domino’s Pizza, Inc (NASDAQ: DPZ) is a global pizza delivery and carryout chain founded in 1960 and headquartered in Ann Arbor, Michigan. The company specializes in a broad range of hand‐crafted pizzas, including hand-tossed, thin crust and specialty offerings, alongside side items such as chicken wings, sandwiches, pasta, desserts and beverages. Domino’s has built its brand on convenience and speed, leveraging proprietary ordering platforms and its Domino’s Tracker system to provide real-time status updates from order placement through delivery.

Operating predominantly under a franchise model, Domino’s has more than 17,000 stores worldwide, with approximately 95% of outlets owned and operated by independent franchisees.