Warren Buffett, a celebrated lover of junk food, just bought into a national pizza chain whose shares are trading near their cheapest level of the year. With CEO Buffett at the helm, Berkshire Hathaway bought more than 1.2 million shares of Domino's Pizza last quarter, a stake worth about $550 million, a recent regulatory filing showed.
Value bet Domino's fits into Berkshire's value investment philosophy, focused on cash flow and price-to-earnings and price-to-book-value yardsticks. At the same time, Berkshire may have simply taken advantage of a steep sell-off in Domino's July, when it slumped 17%.
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