Stifel Nicolaus Reaffirms Hold Rating for Papa John’s International, Inc. (PZZA)
Stifel Nicolaus reiterated their hold rating on shares of Papa John’s International, Inc. (NASDAQ:PZZA) in a research report report published on Friday morning. They currently have a $60.00 price objective on the stock.
A number of other brokerages have also commented on PZZA. 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 on the stock in a report on Friday, August 18th. Stephens boosted their price objective on shares of Papa John’s International from $90.00 to $95.00 and gave the stock an overweight rating in a report on Wednesday, August 2nd. BTIG Research reiterated a buy rating and issued a $100.00 price objective on shares of Papa John’s International in a report on Tuesday, August 29th. Jefferies Group LLC reiterated a hold rating and issued a $83.00 price objective on shares of Papa John’s International in a report on Friday, July 14th. Finally, Citigroup Inc. assumed coverage on shares of Papa John’s International in a report on Monday, September 18th. They issued a buy rating and a $90.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $79.56.
Papa John’s International (PZZA) opened at $61.47 on Friday. Papa John’s International has a 1-year low of $59.36 and a 1-year high of $90.49. The company has a debt-to-equity ratio of -8.26, a current ratio of 1.21 and a quick ratio of 1.01. The company has a market cap of $2,154.04, a price-to-earnings ratio of 22.68, a price-to-earnings-growth ratio of 1.71 and a beta of 0.47.
Papa John’s International (NASDAQ:PZZA) last issued its quarterly earnings data on Tuesday, October 31st. The company reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). Papa John’s International had a return on equity of 4,321.08% and a net margin of 6.12%. 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 EPS. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. equities analysts expect that Papa John’s International will post 2.76 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Stockholders of record on Tuesday, November 7th will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Monday, November 6th. Papa John’s International’s payout ratio is currently 31.03%.
Papa John’s International announced that its board has authorized a stock buyback program on Tuesday, August 1st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 198% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
In other news, SVP Timothy C. Ohern sold 9,218 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $75.08, for a total value of $692,087.44. Following the completion of the sale, the senior vice president now owns 35,650 shares of the company’s stock, valued at approximately $2,676,602. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 27.70% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Koch Industries Inc. grew its position in shares of Papa John’s International by 6,732.0% during the 2nd quarter. Koch Industries Inc. now owns 297,807 shares of the company’s stock valued at $294,000 after buying an additional 293,448 shares during the last quarter. BlackRock Inc. grew its position in shares of Papa John’s International by 13,761.9% during the 1st quarter. BlackRock Inc. now owns 3,080,947 shares of the company’s stock valued at $246,601,000 after buying an additional 3,058,721 shares during the last quarter. Gotham Asset Management LLC bought a new stake in shares of Papa John’s International during the 2nd quarter valued at about $490,000. JPMorgan Chase & Co. grew its position in shares of Papa John’s International by 8.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,411,257 shares of the company’s stock valued at $101,272,000 after buying an additional 110,440 shares during the last quarter. Finally, State Street Corp grew its position in shares of Papa John’s International by 4.0% during the 2nd quarter. State Street Corp now owns 878,119 shares of the company’s stock valued at $63,013,000 after buying an additional 33,578 shares during the last quarter. 87.48% of the stock is owned by institutional investors and hedge funds.
About Papa John’s International
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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