ANN ARBOR, Mich. - Domino's Pizza, Inc. (NYSE:DPZ), recognized as the world's largest pizza company with a market capitalization of $15.82 billion, has declared its intent to change its stock exchange listing from the New York Stock Exchange to the Nasdaq Global Select Market. According to InvestingPro data, the company maintains strong financial health with consistent dividend growth for 11 consecutive years. This transition is scheduled to take place after the market closes on December 31, 2024. The company's shares are expected to commence trading on the Nasdaq on January 2, 2025, while continuing to trade under the ticker symbol "DPZ."
This strategic move by Domino's comes as the company continues to maintain a significant presence in the global fast-food industry, operating more than 21,000 stores across over 90 markets. The brand has reported substantial retail sales, exceeding $18.9 billion over the last four quarters leading up to September 8, 2024, with annual revenue reaching $4.67 billion. InvestingPro analysis indicates the company trades at a P/E ratio of 27.96, suggesting premium market valuation relative to near-term earnings growth. Domino's has a robust digital sales infrastructure in the U.S., with over 85% of its 2023 U.S. retail sales generated through various digital channels, including its online ordering platform.
The company's system predominantly consists of independent franchise owners, who operated 99% of Domino's stores as of the third quarter of 2024. The decision to transfer its stock exchange listing is part of Domino's ongoing efforts to align its operations and financial strategies. Based on InvestingPro's Fair Value analysis, the stock currently appears slightly overvalued, though the company maintains strong liquidity with assets exceeding short-term obligations. Discover more insights and 6 additional ProTips with an InvestingPro subscription.
Domino's has cautioned that forward-looking statements in its press release, such as the anticipated transfer date, involve risks and uncertainties, and actual results could differ materially from those projected. The company has directed interested parties to its filings with the Securities and Exchange Commission, particularly the section on "Risk Factors" in its Annual Report for the fiscal year ended December 31, 2023, for a more comprehensive understanding of these risks.
The information reported is based on a press release statement from Domino's Pizza, Inc. and does not include any speculative or forward-looking commentary. The company has not disclosed any specific reasons for the shift in its stock exchange listing nor has it commented on the potential impact this move may have on its operations or market performance.
In other recent news, Domino's Pizza has been the subject of several significant developments. Loop Capital has upgraded the pizza chain from Hold to Buy, setting a new price target of $559, following an uptick in same-store sales growth during the latter part of the fiscal fourth quarter. On the other hand, Bernstein SocGen Group revised Domino's financial outlook, reducing the price target while maintaining a Market Perform rating due to concerns over U.S. delivery sales.
In leadership changes, Kate Trumbull was appointed as the new Executive Vice President and Chief Marketing Officer, a move expected to strengthen the company's global marketing strategies. Meanwhile, the resignation of Don Meij, Domino's Australia CEO, is viewed positively by Jefferies analysts, who believe that this change will facilitate necessary growth restoration.
The company reported a 6.6% increase in U.S. retail sales and a 5.1% growth in global retail sales for Q3, marking its fourth consecutive quarter of same-store sales growth. Despite a competitive market, Domino's Pizza's carryout segment's steady growth and the company's focus on value are expected to support its market share gains. These are the recent developments in Domino's Pizza's business operations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.