One of today’s most notable movers is Domino’s Pizza (NYSE:DPZ). Shares of DPZ stock are now up more than 12% at the time of writing on heavy volume. This move comes as the company announced a key partnership with Uber (NYSE:UBER) to list its pizzas on Uber Eats in the U.S.
Initially, it’s expected that this will be a slow-and-steady rollout. Four key markets have been identified as pilot areas for Domino’s and Uber. However, assuming this rollout goes well, this service could be quickly expanded to most markets in which both companies have a presence in short order.
Much of the reason for today’s increase in DPZ stock comes from positive anticipation around what this partnership could mean for growth at Domino’s. The company has seen its same-store sales decline 2.1% year over year in the first quarter. Thus, despite raising prices and charging more for the convenience of delivery, it is clear that consumers are tightening their belts. Thus, this bid to improve franchise economics appears to be going over well with everyone right now, including investors.
Speaking of investors, here’s a list of the top five institutional funds holding DPZ stock for those interested.
Who’s Betting Big on DPZ Stock?
According to data from Yahoo Finance, here are the top five institutional holders of DPZ stock at the time of writing.
- Vanguard owns 3.9 million shares, or 11.1% of the company.
- Blackrock (NYSE:BLK) owns 3.2 million shares, or 9.2% of the company.
- T. Rowe Price (NASDAQ:TROW) owns 1.8 million shares, or 5.1% of the company.
- Principal Finance Group (NASDAQ:PFG) owns 1.7 million shares, or 4.7% of the company.
- State Street (NYSE:STT) owns 1.5 million shares, or 4.2% of the company.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
