In a recent filing with the Securities and Exchange Commission, Domino's Pizza Inc. (NYSE:DPZ) reported that Executive Vice President, General Counsel, and Secretary Kevin Scott Morris sold 2,646 shares of the company's common stock. The transaction took place on November 15, 2024, at a price of $459 per share, amounting to a total sale value of $1,214,514.
Following the sale, Morris retains direct ownership of 1,966 shares. Additionally, he holds an indirect interest in 10.089 shares through a 401(k) savings plan. This transaction marks a significant move for Morris in terms of his holdings in the company.
In other recent news, Domino's Pizza has seen a series of developments. Loop Capital upgraded the company's shares from Hold to Buy, raising the price target to $559 based on an uptick in same-store sales growth in the fiscal fourth quarter. Meanwhile, Domino's Pizza Enterprises, the largest franchise operator outside the U.S., reported a 1.2% decline in same-store sales during the first 17 weeks of fiscal 2025.
In leadership changes, Don Meij, CEO of Domino's Australia, announced his resignation and will be succeeded by Mark van Dyck, the Asia-Pacific managing director for the Compass Group (LON:CPG). Additionally, Kate Trumbull was appointed Executive Vice President and Chief Marketing Officer of Domino's Pizza Inc., set to lead global marketing efforts.
In financial updates, 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. However, 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. These are the recent developments in Domino's Pizza's business operations.
InvestingPro Insights
Domino's Pizza Inc. (NYSE:DPZ) continues to demonstrate strong financial performance, as reflected in its recent market data and analyst insights. The company's market capitalization stands at $15.14 billion, indicating its substantial presence in the fast-food industry.
According to InvestingPro data, Domino's has shown impressive revenue growth, with a 5.14% increase in the most recent quarter. This growth aligns with the company's ability to maintain profitability, as evidenced by its healthy EBITDA margin of 19.74% over the last twelve months.
InvestingPro Tips highlight Domino's commitment to shareholder returns. The company has raised its dividend for 11 consecutive years, demonstrating a strong track record of increasing shareholder value. This is particularly relevant in light of the recent insider sale, as it suggests the company's financial stability despite executive stock transactions.
However, investors should note that Domino's is trading at a high P/E ratio of 27.46, which may indicate that the stock is priced at a premium relative to its near-term earnings growth potential. This valuation metric could be a factor for investors to consider when assessing the stock's current price levels, especially in the context of the recent executive stock sale.
For those seeking a more comprehensive analysis, InvestingPro offers additional tips and insights on Domino's Pizza. In fact, there are 8 more InvestingPro Tips available for DPZ, providing a deeper understanding of the company's financial health and market position.
In a recent filing with the Securities and Exchange Commission, Domino's Pizza Inc. (NYSE:DPZ) reported that Executive Vice President, General Counsel, and Secretary Kevin Scott Morris sold 2,646 shares of the company's common stock. The transaction took place on November 15, 2024, at a price of $459 per share, amounting to a total sale value of $1,214,514.
Following the sale, Morris retains direct ownership of 1,966 shares. Additionally, he holds an indirect interest in 10.089 shares through a 401(k) savings plan. This transaction marks a significant move for Morris in terms of his holdings in the company.
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