Nine Chapters Capital Management LLC acquired a new position in Papa John’s International, Inc. (NASDAQ:PZZA) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 3,000 shares of the company’s stock, valued at approximately $219,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. grew its holdings in shares of Papa John’s International by 12.4% in the 2nd quarter. BlackRock Inc. now owns 3,464,406 shares of the company’s stock worth $248,607,000 after acquiring an additional 383,459 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Papa John’s International by 7.3% in the first quarter. Vanguard Group Inc. now owns 2,378,840 shares of the company’s stock worth $190,402,000 after buying an additional 160,913 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Papa John’s International by 8.5% in the second quarter. JPMorgan Chase & Co. now owns 1,411,257 shares of the company’s stock worth $101,272,000 after buying an additional 110,440 shares during the last quarter. TimesSquare Capital Management LLC lifted its position in shares of Papa John’s International by 9.7% during the 2nd quarter. TimesSquare Capital Management LLC now owns 1,055,200 shares of the company’s stock worth $75,721,000 after purchasing an additional 93,540 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Papa John’s International by 3.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 925,918 shares of the company’s stock worth $66,445,000 after purchasing an additional 32,716 shares during the last quarter. Institutional investors and hedge funds own 84.18% of the company’s stock.
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PZZA has been the subject of several recent research reports. TheStreet cut Papa John’s International from a “b” rating to a “c+” rating in a report on Tuesday. Jefferies Group LLC restated a “hold” rating and set a $65.00 price target on shares of Papa John’s International in a research report on Friday. Nomura decreased their price target on Papa John’s International from $78.00 to $71.00 and set a “neutral” rating on the stock in a research report on Friday, October 27th. Zacks Investment Research downgraded Papa John’s International from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, BTIG Research downgraded Papa John’s International from a “buy” rating to a “neutral” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $80.11.
In other Papa John’s International news, SVP Timothy C. Ohern sold 9,218 shares of the firm’s stock in a transaction 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 sale, the senior vice president now owns 35,650 shares of the company’s stock, valued at approximately $2,676,602. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 27.70% of the stock is currently owned by company insiders.
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 Thomson Reuters’ consensus estimate of $0.61 by ($0.01). The firm had revenue of $431.70 million during the quarter, compared to analysts’ expectations of $427.23 million. Papa John’s International had a return on equity of 4,321.08% and a net margin of 6.12%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.57 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Tuesday, November 7th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Monday, November 6th. Papa John’s International’s dividend payout ratio is currently 31.03%.
Papa John’s International announced that its Board of Directors has initiated a share 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 buy up to 198% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
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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