Bessemer Group Inc. boosted its stake in shares of Papa John’s International, Inc. (NASDAQ:PZZA) by 3.0% during the second quarter, Holdings Channel reports. The institutional investor owned 31,200 shares of the company’s stock after buying an additional 900 shares during the period. Bessemer Group Inc.’s holdings in Papa John’s International were worth $2,239,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Papa John’s International during the fourth quarter valued at about $19,911,000. Teachers Advisors LLC increased its position in shares of Papa John’s International by 55.2% in the fourth quarter. Teachers Advisors LLC now owns 79,152 shares of the company’s stock valued at $6,774,000 after buying an additional 28,155 shares during the period. Macquarie Group Ltd. bought a new position in shares of Papa John’s International during the fourth quarter valued at about $270,000. Capstone Asset Management Co. increased its position in shares of Papa John’s International by 3.6% in the first quarter. Capstone Asset Management Co. now owns 4,286 shares of the company’s stock valued at $343,000 after buying an additional 150 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in shares of Papa John’s International by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 6,700 shares of the company’s stock valued at $536,000 after buying an additional 100 shares during the period. Institutional investors own 79.33% of the company’s stock.

Papa John’s International, Inc. (PZZA) opened at 77.39 on Thursday. The company’s 50-day moving average is $74.72 and its 200 day moving average is $78.71. The firm has a market cap of $2.82 billion, a P/E ratio of 26.96 and a beta of 0.51. Papa John’s International, Inc. has a 12 month low of $70.73 and a 12 month high of $90.49.

Papa John’s International (NASDAQ:PZZA) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.01. The company had revenue of $434.78 million for the quarter, compared to analyst estimates of $438.51 million. Papa John’s International had a return on equity of 919.82% and a net margin of 6.13%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.61 earnings per share. Equities research analysts expect that Papa John’s International, Inc. will post $2.86 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, August 7th will be paid a $0.225 dividend. This is a positive change from Papa John’s International’s previous quarterly dividend of $0.20. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, August 3rd. Papa John’s International’s payout ratio is currently 31.36%.

Papa John’s International announced that its Board of Directors has authorized a share buyback program on Tuesday, August 1st that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 198% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

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Several research analysts recently issued reports on PZZA shares. BidaskClub downgraded shares of Papa John’s International from a “sell” rating to a “strong sell” rating in a research report on Friday, June 30th. Stephens reiterated an “overweight” rating and set a $90.00 price target (down previously from $100.00) on shares of Papa John’s International in a research report on Monday, June 26th. Zacks Investment Research upgraded shares of Papa John’s International from a “strong sell” rating to a “hold” rating in a research report on Friday, July 7th. Jefferies Group LLC set a $83.00 price target on shares of Papa John’s International and gave the stock a “hold” rating in a research report on Wednesday, April 19th. Finally, KeyCorp reiterated an “equal weight” rating on shares of Papa John’s International in a research report on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $89.17.

In related news, insider Steve M. Ritchie sold 10,396 shares of Papa John’s International stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $80.00, for a total value of $831,680.00. Following the transaction, the insider now directly owns 37,601 shares of the company’s stock, valued at $3,008,080. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Timothy C. Ohern sold 6,000 shares of Papa John’s International stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $81.79, for a total value of $490,740.00. Following the completion of the transaction, the senior vice president now directly owns 36,020 shares in the company, valued at $2,946,075.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,447 shares of company stock worth $1,656,182. 27.70% of the stock is owned by insiders.

Papa John’s International Company Profile

Papa John’s International, Inc (Papa John’s) operates and franchises pizza delivery and carryout restaurants and, in certain international markets, dine-in and delivery restaurants under the trademark Papa John’s. The Company operates through five segments: domestic Company-owned restaurants, North America commissaries, North America franchising, international operations and all other business units.

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Institutional Ownership by Quarter for Papa John`s International (NASDAQ:PZZA)

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