Domino's Pizza Inc. (NYSE:DPZ) Executive Vice President and Chief Technology Officer Kelly E. Garcia sold 2,200 shares of company stock on June 3, 2024, at an average price of $523 per share, totaling approximately $1.15 million. The transactions were disclosed in a filing with the Securities and Exchange Commission.
The sale was executed at prices ranging from $523, signaling a significant transaction for the executive. Following the sale, Garcia's directly held shares in the company decreased to 8,148.552 shares.
On the same day, Garcia also exercised options to acquire 2,200 shares of Domino's Pizza common stock at a price of $118.54 per share, amounting to a total of $260,788. This transaction indicates the executive's use of stock options granted by the company, which are typically part of an executive's compensation package.
The transactions took place amid Domino's Pizza's ongoing business operations, and they were promptly reported to the SEC as required by regulations. Investors often monitor insider sales and purchases as they can provide insights into executives' perspectives on the company's future prospects.
Domino's Pizza, headquartered in Ann Arbor, Michigan, is a global leader in pizza delivery and carryout services. The company has experienced growth and has expanded its digital and technology initiatives under the leadership of its executive team, including Garcia.
Investors and market watchers may take note of these transactions as they assess their positions in Domino's Pizza. The company's shares are publicly traded on the New York Stock Exchange under the ticker symbol DPZ.
In other recent news, Domino's Pizza has been the subject of several analyst commentaries following its robust first-quarter performance. Citi maintained a neutral stance on Domino's shares, highlighting the company's focus on value and product innovation, as well as the optimistic outlook from its CFO. Wells Fargo (NYSE:WFC) increased its price target for Domino's, citing strong Q1 results, including a significant increase in U.S. comparable sales and improved EBIT margin.
HSBC also raised its target for Domino's shares, emphasizing the company's strong brand and promising growth prospects. The company's robust free cash flow growth and a planned $1 billion share buyback program were also noted. Similarly, Baird increased its price target for Domino's, acknowledging effective customer traffic-driving strategies in the U.S. market.
Lastly, Benchmark raised its price target for Domino's following the announcement of strong Q1 operating results. The company's revamped loyalty program and expansion to Uber (NYSE:UBER) Eats were recognized as contributing factors to its success. These recent developments reflect analysts' perspectives on Domino's Pizza's current performance and future prospects.
InvestingPro Insights
As Domino's Pizza Inc. (NYSE:DPZ) continues to navigate the market, recent data from InvestingPro offers valuable insights into the company's current financial health and stock performance.
InvestingPro Data indicates that the company maintains a robust market cap of $18.02 billion USD and a high price-to-earnings (P/E) ratio of 33.61, reflecting a premium valuation by investors. It's noteworthy that the adjusted P/E ratio for the last twelve months as of Q1 2024 is slightly lower at 33.32, suggesting a consistent valuation over the recent period. Additionally, the company has shown a solid gross profit margin of 28.48% over the same timeframe.
InvestingPro Tips reveal that Domino's Pizza has raised its dividend for 10 consecutive years and has maintained dividend payments for 13 consecutive years, highlighting a commitment to returning value to shareholders. Moreover, the company has been profitable over the last twelve months, which is an encouraging sign for investors looking at the stock's fundamentals.
Investors interested in exploring more about Domino's Pizza can find additional InvestingPro Tips at https://www.investing.com/pro/DPZ. There are 12 additional tips available, providing a deeper dive into the company's performance and potential investment considerations. For those looking to gain full access to these insights, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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