BlackRock Inc. purchased 2,417,593 shares of Domino’s Pizza Inc. The acquisition represents a 7.31% ownership stake in the company. The total value of the investment is approximately $715.7 million.
Institutional investors now own 94.63% of Domino’s total stock. The world’s largest asset manager made the purchase as a vote of confidence in the company’s future prospects.
Reports do not indicate a specific market reaction to the news.