Elevation Point Wealth Partners Invests $1.23 Million in Domino’s Pizza

Elevation Point Wealth Partners LLC has made a significant investment in Domino’s Pizza Inc, purchasing a new stake valued at approximately $1,232,000 during the second quarter. The investment included 2,733 shares of the restaurant operator’s stock, as reported by HoldingsChannel.com. This acquisition highlights a growing interest from various hedge funds in the pizza giant.

In addition to Elevation Point, several other investment firms have recently acquired positions in Domino’s Pizza. RMG Wealth Management LLC invested $25,000 in the second quarter, while Zions Bancorporation National Association UT purchased a stake worth $27,000 in the first quarter. Other notable investments include Signature Resources Capital Management LLC with $29,000, Mid American Wealth Advisory Group Inc. at $31,000, and Atlantic Union Bankshares Corp with a stake of about $34,000. Institutional investors now hold 94.63% of the company’s stock, indicating strong confidence in Domino’s future.

Stock Performance and Dividend Announcement

On Friday, shares of Domino’s Pizza opened at $415.59, reflecting a slight decrease of 0.5%. The company’s market capitalization stands at $14.04 billion, with a price-to-earnings (PE) ratio of 24.29 and a price-to-earnings-growth (PEG) ratio of 2.15. Over the past year, Domino’s stock has fluctuated between a low of $392.89 and a high of $500.55.

In related news, Domino’s has announced a quarterly dividend of $1.74 per share, set to be distributed on December 26, 2024. Stockholders of record on December 15, 2024, will receive this payment, which represents an annualized dividend of $6.96 and a yield of 1.7%. The company’s dividend payout ratio currently stands at 40.68%, reflecting its commitment to returning value to shareholders.

Analyst Ratings and Market Outlook

Domino’s Pizza has attracted significant attention from Wall Street analysts. According to recent reports, Jefferies Financial Group has lowered its price target from $490.00 to $455.00 while maintaining a “hold” rating. Similarly, Royal Bank of Canada reduced its target from $500.00 to $450.00, categorizing it as a “sector perform.”

Other analysts have also revised their ratings, with Citigroup decreasing its target from $500.00 to $480.00 and Piper Sandler reiterating a “neutral” rating with a target price of $445.00. Notably, BTIG Research has maintained a “buy” rating with a price target of $530.00, reflecting a more optimistic outlook.

Currently, two analysts have given Domino’s stock a “Strong Buy” rating, while twelve have issued a “Buy” rating, and eleven have assigned a “Hold” rating. The average rating stands at “Moderate Buy,” with a consensus target price of $490.40, according to data from MarketBeat.com.

Domino’s Pizza, Inc., through its subsidiaries, operates as a leading pizza company both in the United States and internationally. The company functions through three primary segments: U.S. Stores, International Franchise, and Supply Chain, offering pizzas under the well-known Domino’s brand through both company-owned and franchised outlets.

As investors keep a close eye on Domino’s performance, the recent investments and favorable analyst ratings could signal a promising trajectory for the company in the fast-paced food service industry.