Papa John’s International, Inc. (PZZA) Position Reduced by Stevens Capital Management LP
Stevens Capital Management LP cut its stake in Papa John’s International, Inc. (NASDAQ:PZZA) by 24.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,896 shares of the company’s stock after selling 3,145 shares during the period. Stevens Capital Management LP’s holdings in Papa John’s International were worth $723,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in PZZA. Flinton Capital Management LLC boosted its stake in Papa John’s International by 76.9% in the 2nd quarter. Flinton Capital Management LLC now owns 1,840 shares of the company’s stock worth $132,000 after purchasing an additional 800 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Papa John’s International by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,574 shares of the company’s stock worth $185,000 after purchasing an additional 386 shares in the last quarter. Trexquant Investment LP acquired a new stake in Papa John’s International in the 2nd quarter worth approximately $201,000. Riverhead Capital Management LLC boosted its stake in Papa John’s International by 87.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,996 shares of the company’s stock worth $215,000 after purchasing an additional 1,396 shares in the last quarter. Finally, LS Investment Advisors LLC lifted its stake in Papa John’s International by 11.5% during the 2nd quarter. LS Investment Advisors LLC now owns 3,047 shares of the company’s stock valued at $219,000 after acquiring an additional 315 shares during the period. Institutional investors own 88.25% of the company’s stock.
In other news, Director Wayne Kent Taylor bought 8,860 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was purchased at an average cost of $57.53 per share, for a total transaction of $509,715.80. Following the purchase, the director now directly owns 30,822 shares in the company, valued at approximately $1,773,189.66. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Timothy C. Ohern sold 9,218 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $75.08, for a total transaction of $692,087.44. Following the completion of the transaction, the senior vice president now owns 35,650 shares of the company’s stock, valued at $2,676,602. The disclosure for this sale can be found here. Insiders own 27.70% of the company’s stock.
Shares of Papa John’s International, Inc. (NASDAQ PZZA) opened at $57.90 on Thursday. The company has a debt-to-equity ratio of -8.26, a quick ratio of 1.01 and a current ratio of 1.21. Papa John’s International, Inc. has a 12 month low of $57.22 and a 12 month high of $90.49. The company has a market cap of $2,076.59, a P/E ratio of 21.87, a price-to-earnings-growth ratio of 1.65 and a beta of 0.47.
Papa John’s International (NASDAQ:PZZA) last posted its earnings results on Tuesday, October 31st. The company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.01). Papa John’s International had a net margin of 6.12% and a return on equity of 4,321.08%. The firm had revenue of $431.70 million during the quarter, compared to analyst estimates of $427.23 million. During the same quarter in the prior year, the firm earned $0.57 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. equities research analysts predict that Papa John’s International, Inc. will post 2.76 earnings per share for the current year.
Papa John’s International declared that its board has initiated a stock repurchase plan on Tuesday, August 1st that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 198% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Tuesday, November 7th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Monday, November 6th. Papa John’s International’s dividend payout ratio is currently 31.03%.
Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Papa John’s International from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research note on Friday, August 18th. Stephens lifted their price objective on shares of Papa John’s International from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, August 2nd. Stifel Nicolaus restated a “hold” rating and set a $60.00 price objective on shares of Papa John’s International in a research note on Friday, November 3rd. Instinet restated a “neutral” rating and set a $78.00 price objective (down from $84.00) on shares of Papa John’s International in a research note on Monday, July 31st. Finally, Citigroup Inc. assumed coverage on shares of Papa John’s International in a research note on Monday, September 18th. They set a “buy” rating and a $90.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $79.56.
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Papa John’s International 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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