Irenic Capital Management LP decreased its holdings in shares of Papa John’s International, Inc. (NASDAQ:PZZA – Free Report) by 69.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 325,108 shares of the company’s stock after selling 748,592 shares during the quarter. Papa John’s International comprises about 0.8% of Irenic Capital Management LP’s portfolio, making the stock its 18th biggest holding. Irenic Capital Management LP owned approximately 0.99% of Papa John’s International worth $12,513,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Lazard Asset Management LLC purchased a new stake in shares of Papa John’s International during the second quarter worth $59,000. Leonteq Securities AG purchased a new stake in shares of Papa John’s International in the fourth quarter valued at approximately $71,000. Kestra Advisory Services LLC purchased a new stake in shares of Papa John’s International in the fourth quarter valued at approximately $73,000. Bayforest Capital Ltd purchased a new stake in shares of Papa John’s International in the fourth quarter valued at approximately $92,000. Finally, iSAM Funds UK Ltd purchased a new stake in shares of Papa John’s International in the third quarter valued at approximately $121,000.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on PZZA shares. Deutsche Bank Aktiengesellschaft dropped 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. UBS Group dropped 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 Thursday, May 14th. Wall Street Zen raised shares of Papa John’s International from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Finally, Benchmark dropped their price objective on shares of Papa John’s International from $50.00 to $45.00 and set a “buy” rating for the company in a report on Friday, May 8th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $38.50.
Papa John’s International Stock Performance
NASDAQ PZZA opened at $36.42 on Thursday. The firm has a 50 day simple moving average of $34.26 and a 200-day simple moving average of $35.59. Papa John’s International, Inc. has a one year low of $29.55 and a one year high of $55.74. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 43.88, a PEG ratio of 1.82 and a beta of 1.15.
Papa John’s International (NASDAQ:PZZA – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.08). Papa John’s International had a net margin of 1.37% and a negative return on equity of 10.71%. The business had revenue of $478.61 million during the quarter, compared to analysts’ expectations of $485.51 million. During the same period in the previous year, the business posted $0.36 EPS. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. Equities analysts predict that Papa John’s International, Inc. will post 1.51 EPS for the current fiscal year.
Papa John’s International Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were issued a $0.46 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.84 dividend on an annualized basis and a yield of 5.1%. Papa John’s International’s dividend payout ratio (DPR) is 221.69%.
About Papa John’s International
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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