Previous Story
Domino’s Pizza reports ‘robust’ trade thanks to investment in digital
Posted On Oct 14 2015
Comment: Off
Domino’s Pizza (NYSE:DPZ) had its price objective hoisted by research analysts at JPMorgan Chase & Co. from $117.00 to $119.00 in a research note issued to investors on Wednesday, StockTargetPrices.com reports.
The Connecticut-based fund Chilton Investment Co Llc disclosed it had bought a stake worth about 2.55% of the active investment manager’s stock portfolio in Domino’s Pizza.
The stock jumped 5.3% to $41.89 at around 1:10pm AEDT, with about 239,000 shares changing hands, outperforming the broader market’s decline of 0.3%.
Out of 8 analysts covering Domino’s Pizza (NYSE:DPZ), 4 rate it “Buy”, 0 “Sell”, while 4 “Hold”. Around 63% of the company’s total sales in the previous year were generated from supplying pizza-making ingredients and equipment to its owned and franchised outlets. The company has a market cap of $5.77 billion. Domino’s Pizza has a 12 month low of $82.51 and a 12 month high of $119.73.
“It has also answered questions of how we should market the business in 2016 as people might be willing to eat more pizzas in the summer than we previously thought”. The company had revenue of $494.70 million for the quarter, compared to analysts’ expectations of $486 million.
It said growing popularity of its app helped online orders rise 35%, adding that 75% of all orders have come through its online channels in the year to date. According to the company, higher insurance cost and stronger dollar reduced profit by 6 cents per share.
Domino’s Pizza, Inc.is a pizza retail chain. The Domestic Stores segment of the Firm consists mainly of its franchise operations, whereby the Company manages network shops found in franchised of 4,722 The global Franchise segment of the Company is comprised of a network of franchised shops in more than 80 worldwide marketplaces. In addition, it operates 16 regional dough manufacturing and supply chain centers, one equipment and supply facility, one thin crust manufacturing center and one vegetable processing center in the contiguous United States, and six dough manufacturing and supply chain centers outside the contiguous United States.
