NewEdge Wealth LLC reduced its position in shares of Papa John’s International, Inc. (NASDAQ:PZZA – Free Report) by 18.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 122,186 shares of the company’s stock after selling 26,800 shares during the quarter. NewEdge Wealth LLC’s holdings in Papa John’s International were worth $4,703,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Acorn Financial Advisory Services Inc. ADV boosted its position in shares of Papa John’s International by 2.4% during the 4th quarter. Acorn Financial Advisory Services Inc. ADV now owns 18,569 shares of the company’s stock valued at $715,000 after acquiring an additional 436 shares during the last quarter. Fifth Third Bancorp lifted its position in Papa John’s International by 13.1% in the fourth quarter. Fifth Third Bancorp now owns 15,375 shares of the company’s stock worth $592,000 after buying an additional 1,776 shares during the last quarter. Savoir Faire Capital Management L.P. lifted its position in Papa John’s International by 26.3% in the fourth quarter. Savoir Faire Capital Management L.P. now owns 97,927 shares of the company’s stock worth $3,769,000 after buying an additional 20,404 shares during the last quarter. Cadence Bank lifted its position in Papa John’s International by 1.4% in the fourth quarter. Cadence Bank now owns 57,052 shares of the company’s stock worth $2,196,000 after buying an additional 797 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Papa John’s International by 17.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,761 shares of the company’s stock worth $491,000 after buying an additional 1,881 shares during the last quarter.
Analyst Ratings Changes
PZZA has been the subject of a number of analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of Papa John’s International in a research report on Friday, March 27th. UBS Group lowered their price target on Papa John’s International from $42.00 to $33.00 and set a “neutral” rating for the company in a research report on Monday, March 2nd. Stephens restated an “overweight” rating and issued a $40.00 price target on shares of Papa John’s International in a research report on Friday. Deutsche Bank Aktiengesellschaft lowered their price target on Papa John’s International from $45.00 to $35.00 and set a “hold” rating for the company in a research report on Friday, February 27th. Finally, Zacks Research upgraded Papa John’s International from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. Two analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, Papa John’s International presently has an average rating of “Hold” and an average target price of $38.50.
Papa John’s International Trading Up 7.2%
Shares of Papa John’s International stock opened at $33.38 on Tuesday. The firm has a market cap of $1.10 billion, a P/E ratio of 40.22, a P/E/G ratio of 2.68 and a beta of 1.18. Papa John’s International, Inc. has a 12 month low of $29.55 and a 12 month high of $55.74. The stock’s fifty day moving average price is $34.57 and its 200-day moving average price is $37.82.
Papa John’s International (NASDAQ:PZZA – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.08). The firm had revenue of $478.61 million for the quarter, compared to analysts’ expectations of $485.51 million. Papa John’s International had a net margin of 1.37% and a negative return on equity of 10.71%. The business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.36 EPS. Analysts forecast that Papa John’s International, Inc. will post 1.53 earnings per share for the current year.
Papa John’s International Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Monday, May 18th will be paid a dividend of $0.46 per share. The ex-dividend date is Monday, May 18th. This represents a $1.84 annualized dividend and a dividend yield of 5.5%. Papa John’s International’s dividend payout ratio (DPR) is currently 221.69%.
Papa John’s International Company Profile
Papa John’s International, Inc is a leading American pizza restaurant chain known for its focus on high-quality ingredients and consistent product offerings. Founded in 1984 by John Schnatter in Jeffersonville, Indiana, the company has grown to operate thousands of restaurants across the United States and in more than 40 international markets. Papa John’s restaurants are primarily franchised, supported by a network of corporate-owned outlets that together drive brand standards, operational guidance and marketing efforts.
The core menu at Papa John’s centers on a variety of hand-tossed and pan pizzas made with a signature stone-baked crust and topped with real cheese, vine-ripened tomato sauce and premium meats and vegetables.
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