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Hedge fund orders more Domino’s

The company announced a new chairman this month
Hedge fund orders more Domino’s

Activist hedge fund Browning West continues to build its position in Domino’s Pizza (DOM). The fund’s founder and chief investment officer, Usman Nabi, who is a non-executive director at Domino’s, acquired around 4.7m shares in three tranches of transactions, with a total aggregate value of £14.6m.

IC TIP: Hold at 299p

Browning West now has an 8.94 per cent holding in Domino’s. Neither Browning West nor Domino’s chose to comment on the dealings. 

The first tranche of dealings took place after Domino’s confirmed the appointment of Matt Shattock as its new chairman on 10 March. Mr Shattock, a former British Army tank commander who is currently non-executive chairman at spirits group Beam Suntory, is the latest in a swathe of boardroom appointments that will also see Domino’s select a new chief executive and chief financial officer. Mr Shattock will lead the process to replace current chief executive David Wild and former chief financial officer David Bauernfeind, respectively. Mr Bauernfeind passed away in December 2019.

Browning West’s Mr Nabi himself took up his non-executive role on 11 November 2019, buying more than 2.8m shares on the following day and a further 1.4m shares the day after.

Browning West’s dealings also followed the release of Domino’s full-year 2019 results, which revealed a 13.8 per cent decline in the company’s pre-tax profits, although UK and Ireland sales rose 3.7 per cent and 3 per cent, respectively. In October, Domino’s announced that it was leaving behind its overseas markets, and the group is targeting the disposal of its Norway business in late May 2020.

Buys      
CompanyDirector/PDMRDateNo. of sharesPrice (p)Aggregate value (£)Comments
VesuviusJohn McDonough (cha)10 Mar 2020,00039,75179,502 
International Consolidated Airlines GroupJavier Sanchez-Prieto11 Mar 2070,000408.92286,243

Original price €4.606

CoatsMichael Clasper11 Mar 20200,00060.42120,849 
Reckitt BenckiserAditya Sehgal11 Mar 2010,0005,579.94557,994 
BarclaysNigel Higgins (ch)11 Mar 20250,000118294,203 
G4SAshley Almanza (ceo)11 Mar 20100,000105105,251 
G4STim Weller (cfo)11 Mar 2085,00010690,100 
G4SJohn Connolly (ch)12 Mar 20275,00095261,459 
Spirax-Sarco EngineeringClare Pike (pca)12 Mar 201,3007,69099,970

Spouse of Jamie Pike, chairman

Spirax-Sarco EngineeringKevin Thompson12 Mar 201,3007,675.3999,780.00 
Domino's PizzaBrowning West10 Mar 202,152292.36,290.30

PCA of Usman Nabi, non-executive director

Domino's PizzaBrowning West10 Mar 203,496306.810,725.73 
Domino's PizzaBrowning West10 Mar 208,259305.4325,225.46 
Domino's PizzaBrowning West10 Mar 2023,859304.0372,538.52 
Domino's PizzaBrowning West10 Mar 2082,026305.48250,572.02 
Domino's PizzaBrowning West10 Mar 20199,049303.53606,173.43 
Domino's PizzaBrowning West10 Mar 20252,214304.18767,184.55 
Domino's PizzaBrowning West10 Mar 20258,227304.73786,895.14 
Domino's PizzaBrowning West10 Mar 20273,127304.12830,633.83 
Domino's PizzaBrowning West10 Mar 20361,165303.071,094,582.77 
Domino's PizzaBrowning West10 Mar 20536,453306.271,642,994.60 
Domino's PizzaBrowning West10 Mar 20500,000305.81,529,000.00 
Domino's PizzaBrowning West11 Mar 2092318.7293.2 
Domino's PizzaBrowning West11 Mar 201,286318.614,097.32 
Domino's PizzaBrowning West11 Mar 205,696318.0318,114.99 
Domino's PizzaBrowning West11 Mar 2011,885319.237,936.92 
Domino's PizzaBrowning West11 Mar 2037,251319.3118,942.44 
Domino's PizzaBrowning West11 Mar 20176,650318.9563,336.85 
Domino's PizzaBrowning West11 Mar 201,162,990314.753,660,511.03 
Domino's PizzaBrowning West11 Mar 2051,401319.33164,138.81 
Domino's PizzaBrowning West11 Mar 2043,494319.54138,980.73 
Domino's PizzaBrowning West11 Mar 2017,752319.1556,655.51 
Domino's PizzaBrowning West12 Mar 2010,197301.8430,778.62 
Domino's PizzaBrowning West12 Mar 208,729300.6626,244.61 
Domino's PizzaBrowning West12 Mar 20225,334304.74686,682.83 
Domino's PizzaBrowning West12 Mar 2025,660299.1676,764.46 
Domino's PizzaBrowning West12 Mar 2024,699301.3974,440.32 
Domino's PizzaBrowning West12 Mar 205,594300.7916,826.19 
Domino's PizzaBrowning West12 Mar 20200,000300600,000.00 
Domino's PizzaBrowning West12 Mar 2044,666300.3134,132.00 
Domino's PizzaBrowning West12 Mar 2032,730300.4898,347.10 
Domino's PizzaBrowning West12 Mar 209,136298.4827,269.13 
Domino's PizzaBrowning West12 Mar 2067,723301.38204,103.58 
Domino's PizzaBrowning West12 Mar 2065,532301.03197,270.98 
Galliford TryBill Hocking (ceo)12 Mar 20100,000116.24116,238.50 
InformaDerek Mapp13 Mar 2037,850549.7324208,073.71 
Croda InternationalJohn Ramsay13 Mar 201,9254,048.1277,926.40 
Croda InternationalJohn Ramsay13 Mar 20754,075.003,056.25 
RightmoveAndrew Fisher (ch)13 Mar 2010,000534.0053,400.00 
RightmoveAndrew Fisher (ch)16 Mar 2010,000484.5048,450.00 
Crest NicholsonPeter Truscott (ceo)16 Mar 2030,000311.1693,347.22 
DerwentSimon Silver16 Mar 203,5002,932.00102,620.00 
IWGEstorn Limited16 Mar 202,000,000151.203,024,000.00

PCA of Mark Dixon, ceo. Weighted average price

SoftcatRobyn Perriss17 Mar 2015,0001,002.00150,300.00 
Sells      
CompanyDirector/PDMRDateNo. of sharesPrice (p)Aggregate value (£)Comments
BarclaysPaul Compton9 Mar 20397,929121.55483,683.00 
CalisenBert Pijls (ceo)11 Mar 2046,183240110,839.20 
CalisenSean Latus (cfo)11 Mar 2014,46724034,720.80