Warren Buffett’s Berkshire Hathaway constructed a brand new stake in Domino’s Pizza final quarter, based on a regulatory submitting Thursday. The Omaha-based conglomerate purchased greater than 1.2 million shares of the pizza chain for a stake price about $550 million on the finish of September. Given its small measurement in Berkshire’s portfolio, Buffett’s investing lieutenants Ted Weschler and Todd Combs might be behind the funding. Shares of Domino’s popped greater than 8% in extended-hours buying and selling following the information. The world’s largest pizza chain fell wanting Wall Road estimates for third-quarter comparable gross sales development within the U.S. as competitors for cost-conscious prospects continued to ramp up. Shares of Domino’s have underperformed the broader market this 12 months, up simply 6%. The S & P 500 has gained practically 25% in 2024. Shopping for Pool, Promoting Ulta Berkshire additionally took a small stake in swimming pool provider Pool Corp. final quarter. The holding was price about $152 million on the finish of the third quarter. It might be one other worth wager as Pool shares have misplaced 10% this 12 months. Additionally within the third quarter, Buffett’s holding firm practically dissolved its new wager on Ulta , promoting about 97% of the shares. Berkshire had simply purchased the inventory within the second quarter. Shares of Ulta inched up simply 0.8% within the third quarter after plunging 26% within the interval prior. Berkshire’s gross sales of prime holdings Apple and Financial institution of America had been beforehand disclosed. Most of its large stakes had been unchanged final quarter.
Warren Buffett’s Berkshire Hathaway takes a stake in Domino’s Pizza