9 Best Pizza Stocks to Buy Now

2. Domino’s Pizza, Inc. (NYSE: DPZ)

Number of Hedge Fund Holders: 40

Domino’s Pizza, Inc. (NYSE: DPZ) is one of the leading Pizza manufacturing companies around the globe, it’s an American multinational company that evolved from a one-store operation to owning multiple franchises worldwide.

According to the American customer satisfaction index based on the leading quick service restaurant in the US in 2023, Domino’s Pizza, Inc. (NYSE: DPZ) surpassed Little Ceaser’s and tied with Pizza Hut of Yum! Inc. (NYSE: YUM) as both restaurant chains scored 78 on the scale.

Domino’s Pizza, Inc. (NYSE: DPZ) reported a global sales growth of 7.3% in its performance results of Q1, 2024. Revenues increased $60.2 million, or 5.9%  year over year. Net income increased $21.1 million, or 20.1%, in the first quarter of 2024. Moreover, an actual EPS of $3.58 outperformed the estimated $3.39.

According to Insider Monkey’s first quarter database, 40 hedge funds held stake in Domino’s relative to the 34 in the Q1 of the previous year. Coatue Management fund  is the biggest stakeholder with 635,602 shares valued at $315.81 million.

BofA analyst Sara Senatore raised the price target on Domino’s Pizza to $626 from $550 and keeps a ”Buy” rating on the shares. The company is raising its FY24 EPS forecast to $16.46 from $16, incorporating the Q1 beat and higher same-store sales growth expectations, the analyst tells investors in a post-earnings note.