Domino’s Pizza (NASDAQ:DPZ) Given New $350.00 Price Target at JPMorgan Chase & Co.

Domino’s Pizza (NASDAQ:DPZ) had its price target dropped by equities research analysts at JPMorgan Chase & Co. from $380.00 to $350.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the restaurant operator’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 17.26% from the company’s current price.

DPZ has been the subject of a number of other research reports. Benchmark reissued a “buy” rating on shares of Domino’s Pizza in a report on Tuesday, July 21st. TD Cowen upped their price target on shares of Domino’s Pizza from $310.00 to $320.00 and gave the stock a “hold” rating in a research note on Thursday, September 10th. Guggenheim cut their price target on shares of Domino’s Pizza from $440.00 to $325.00 and set a “neutral” rating for the company in a report on Wednesday, September 23rd. BMO Capital Markets reduced their price objective on shares of Domino’s Pizza from $450.00 to $420.00 and set an “outperform” rating for the company in a research note on Tuesday, July 21st. Finally, Wells Fargo & Company raised their price objective on shares of Domino’s Pizza from $325.00 to $350.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Sixteen equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $393.39.

Domino’s Pizza Price Performance

Shares of DPZ stock traded up $6.22 during trading hours on Tuesday, reaching $298.49. 106,949 shares of the company’s stock were exchanged, compared to its average volume of 911,321. The company has a market cap of $9.87 billion, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94. The company’s 50 day moving average is $333.38 and its two-hundred day moving average is $333.63. Domino’s Pizza has a 1 year low of $282.00 and a 1 year high of $442.35.

Domino’s Pizza (NASDAQ:DPZ) last posted its quarterly earnings results on Monday, July 20th. The restaurant operator reported $4.07 EPS for the quarter, missing the consensus estimate of $4.17 by ($0.10). Domino’s Pizza had a net margin of 11.86% and a negative return on equity of 15.15%. The business had revenue of $1.19 billion during the quarter. During the same period in the prior year, the company earned $3.81 earnings per share. Domino’s Pizza’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, analysts predict that Domino’s Pizza will post 18.95 EPS for the current fiscal year.

Insider Activity

In related news, CEO Russell Weiner sold 10,850 shares of the business’s stock in a transaction that occurred on Friday, July 17th. The shares were sold at an average price of $330.83, for a total value of $3,589,505.50. Following the completion of the sale, the chief executive officer directly owned 43,829 shares in the company, valued at approximately $14,499,948.07. The trade was a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelly Garcia sold 12,430 shares of the business’s stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $322.04, for a total transaction of $4,002,957.20. Following the sale, the executive vice president directly owned 9,352 shares of the company’s stock, valued at $3,011,718.08. This represents a 57.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 23,767 shares of company stock valued at $7,737,107 in the last 90 days. 0.89% of the stock is owned by company insiders.

Hedge Funds Weigh In On Domino’s Pizza

Several hedge funds and other institutional investors have recently bought and sold shares of DPZ. SHP Wealth Management acquired a new position in shares of Domino’s Pizza during the fourth quarter worth $25,000. Rakuten Securities Inc. acquired a new stake in Domino’s Pizza during the 2nd quarter valued at $28,000. Investors Research Corp grew its holdings in Domino’s Pizza by 9,900.0% during the 2nd quarter. Investors Research Corp now owns 100 shares of the restaurant operator’s stock valued at $30,000 after purchasing an additional 99 shares in the last quarter. MBM Wealth Consultants LLC purchased a new stake in Domino’s Pizza during the 1st quarter worth $31,000. Finally, Cornerstone Planning Group LLC lifted its holdings in Domino’s Pizza by 450.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 99 shares of the restaurant operator’s stock worth $33,000 after buying an additional 81 shares in 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 is a global restaurant company that operates and franchises stores under the Domino’s brand. Its core business centers on the preparation and delivery of made-to-order pizzas, with carryout and digital ordering also playing important roles in its customer service model.

The company’s menu includes a variety of pizzas, crusts and toppings, along with side dishes, chicken, sandwiches, desserts and beverages. Domino’s also operates a supply chain business that produces and distributes food, equipment and other products to company-owned and franchised stores, supporting consistency across its restaurant network.

Founded in 1960 in Ypsilanti, Michigan, Domino’s was initially known as Dominick’s before adopting its current name in 1965.