TIAA CREF Investment Management LLC decreased its holdings in Papa John’s International, Inc. (NASDAQ:PZZA) by 24.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 128,860 shares of the company’s stock after selling 42,505 shares during the quarter. TIAA CREF Investment Management LLC owned 0.35% of Papa John’s International worth $9,247,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. lifted its position in Papa John’s International by 13,761.9% in the 1st quarter. BlackRock Inc. now owns 3,080,947 shares of the company’s stock valued at $246,601,000 after acquiring an additional 3,058,721 shares in the last quarter. Vanguard Group Inc. lifted its position in Papa John’s International by 7.3% in the 1st quarter. Vanguard Group Inc. now owns 2,378,840 shares of the company’s stock valued at $190,402,000 after acquiring an additional 160,913 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Papa John’s International by 8.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,411,257 shares of the company’s stock valued at $101,272,000 after acquiring an additional 110,440 shares in the last quarter. TimesSquare Capital Management LLC lifted its position in Papa John’s International by 9.7% in the 2nd quarter. TimesSquare Capital Management LLC now owns 1,055,200 shares of the company’s stock valued at $75,721,000 after acquiring an additional 93,540 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Papa John’s International by 5.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 893,202 shares of the company’s stock valued at $71,491,000 after acquiring an additional 43,813 shares in the last quarter. 83.77% of the stock is currently owned by institutional investors and hedge funds.

Shares of Papa John’s International, Inc. (PZZA) opened at 69.96 on Friday. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 24.37 and a beta of 0.50. The firm has a 50-day moving average of $73.98 and a 200 day moving average of $76.88. Papa John’s International, Inc. has a 1-year low of $68.68 and a 1-year high of $90.49.

Papa John’s International (NASDAQ:PZZA) last issued its earnings results on Tuesday, August 1st. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.01. The firm had revenue of $434.78 million for the quarter, compared to the consensus estimate of $438.51 million. Papa John’s International had a net margin of 6.13% and a return on equity of 919.82%. The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.61 earnings per share. Equities research analysts forecast that Papa John’s International, Inc. will post $2.85 earnings per share for the current year.

Papa John’s International declared that its Board of Directors has initiated a stock repurchase program on Tuesday, August 1st that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire 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 equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Papa John’s International from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research report on Friday, August 18th. Stephens raised their price target on shares of Papa John’s International from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, August 2nd. BTIG Research reaffirmed a “buy” rating and issued a $100.00 price target on shares of Papa John’s International in a research report on Tuesday, August 29th. KeyCorp reaffirmed an “equal weight” rating on shares of Papa John’s International in a research report on Tuesday, June 20th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $83.00 price target on shares of Papa John’s International in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Papa John’s International has a consensus rating of “Hold” and an average price target of $86.00.

In other news, SVP Timothy C. Ohern sold 9,218 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $75.08, for a total value of $692,087.44. Following the transaction, the senior vice president now owns 35,650 shares in the company, valued at $2,676,602. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 27.70% of the company’s stock.

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.

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

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