Warren Buffett (Trades, Portfolio)'s Berkshire Hathaway (BRK. B, Financial) has acquired a $550 million stake in Domino's Pizza (DPZ, Financial).
In the second quarter of 2024, Buffett again bought more shares of Chubb, Occidental, the two Liberty Media Sirius XM tracking stocks, and Sirius XM. He also initiated new positions in aerospace and electronics company Heico and cosmetics retailer Ulta Beauty.
Berkshire disclosed for the first time that it now owns stock in pizza giant Domino's Pizza (NYSE: DPZ). And Berkshire didn't just dip a toe in the water with its Domino's buy -- its latest 13F filing showed it acquired almost 1.3 million shares worth $550 million as of the market close on Nov. 15.
From a valuation perspective, Domino's shares are as cheap as they have been in 10 years, so Berkshire's investing gurus certainly chose an opportunistic point to start a position. Over the last decade, the stock's price-to-earnings (P/E) ratio has fluctuated between a low of 22.3 (2023) and a high of 46.8 (2017).
In 1998, after 38 years of ownership, Domino's founder Tom Monaghan announced his retirement, sold 93 percent of the company to Bain Capital, Inc. for about $1 billion, and ceased being involved in day-to-day operations of the company. A year later, the company named Dave Brandon as its CEO.
Credit: Domino's Pizza Inc. Domno's Pizza Inc. CEO Russell Weiner in 2022 earned $6.63 million in compensation, including $7,322 in pizza and other Domino's food paid for by the company.
RPM Pizza has been the largest U.S. franchisee in the Domino's system for more than 30 years. RPM Pizza was founded by Richard P.
Even as corporate valuations soar, Buffett has never sat on more dollar bills. His conglomerate, Berkshire Hathaway, currently holds $325 billion in cash and equivalents, according to the firm's quarterly financial statements.
Does Berkshire own McDonald's? Berkshire Hathaway doesn't currently own any restaurant stocks.
Warren Buffett. Warren Edward Buffett (/ˈbʌfɪt/ BUF-it; born August 30, 1930) is an American investor and philanthropist who currently serves as the chairman and CEO of Berkshire Hathaway. As a result of his investment success, Buffett is one of the best-known investors in the world.
Domino's Pizza is delivering profitable growth despite a still-challenging operating environment. The company has gained market share this year by outperforming industry peers.
Russell Weiner has served as Domino's chief executive officer since May 2022.
1960 Tom Monaghan and his brother James purchase "DomiNick's," a pizza restaurant in Ypsilanti, Michigan. Monaghan borrowed $500 to buy the restaurant. 1961 James trades his half of the business to Tom for a Volkswagen Beetle. 1965 Tom Monaghan is sole owner of company, and renames the business "Domino's Pizza, Inc."
Domino's No. 1 enemy – The Noid – appears on TV screens across the U.S., becoming a recognized antihero and saboteur of quality.
Catholic philanthropy and activism. Monaghan is a Roman Catholic with a particular interest in pro life causes. He established or helped establish a number of Catholic organizations and educational establishments.
Despite being the sixth-richest person globally, Warren Buffett continues to drive a 2014 Cadillac XTS he purchased with hail damage. Although he can afford any luxury vehicle, Buffett prefers the practicality of his 10-year-old car.
Bill & Melinda Gates Foundation Trust's top holdings are Microsoft Corporation (US:MSFT) , Berkshire Hathaway Inc. (US:BRK.B) , Waste Management, Inc. (US:WM) , Canadian National Railway Company (US:CNI) , and Caterpillar Inc. (US:CAT) .
According to Warren Buffett, selling Apple stocks made sense as Buffett believes stocks are trading above their intrinsic value and capital gains taxes are also likely to rise. This makes it advantageous to realize gains at the current lower tax rate as Buffett is trying to lock in profits before potential tax hikes.