Papa John’s Int’l (NASDAQ:PZZA) Shares Down 5.4% After Analyst Downgrade

Shares of Papa John’s Int’l, Inc. (NASDAQ:PZZA) traded down 5.4% during mid-day trading on Thursday after Citigroup lowered their price target on the stock from $60.00 to $58.00. Citigroup currently has a buy rating on the stock. Papa John’s Int’l traded as low as $43.00 and last traded at $43.04, 1,300,400 shares traded hands during mid-day trading. An increase of 34% from the average session volume of 971,127 shares. The stock had previously closed at $45.50.

Other equities analysts have also recently issued reports about the stock. MKM Partners assumed coverage on shares of Papa John’s Int’l in a research note on Tuesday. They issued a “buy” rating and a $55.00 price objective on the stock. BidaskClub raised shares of Papa John’s Int’l from a “sell” rating to a “hold” rating in a research note on Thursday, May 30th. ValuEngine cut shares of Papa John’s Int’l from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Stephens raised their price objective on shares of Papa John’s Int’l from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Finally, Credit Suisse Group assumed coverage on shares of Papa John’s Int’l in a research note on Tuesday, June 25th. They issued a “neutral” rating and a $45.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $54.00.

In other news, Director Anthony Michael Sanfilippo purchased 2,000 shares of Papa John’s Int’l stock in a transaction dated Monday, May 20th. The shares were bought at an average cost of $47.09 per share, with a total value of $94,180.00. Following the completion of the transaction, the director now directly owns 3,654 shares in the company, valued at approximately $172,066.86. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder John H. Schnatter sold 3,451,413 shares of Papa John’s Int’l stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $45.63, for a total transaction of $157,487,975.19. Following the transaction, the insider now directly owns 5,509,583 shares in the company, valued at $251,402,272.29. The disclosure for this sale can be found here. Company insiders own 43.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE raised its holdings in shares of Papa John’s Int’l by 7,011.9% during the fourth quarter. Bank of America Corp DE now owns 50,733 shares of the company’s stock worth $2,020,000 after acquiring an additional 51,467 shares during the period. Legal & General Group Plc raised its holdings in shares of Papa John’s Int’l by 1.6% during the fourth quarter. Legal & General Group Plc now owns 22,916 shares of the company’s stock worth $913,000 after acquiring an additional 359 shares during the period. Norges Bank acquired a new stake in shares of Papa John’s Int’l during the fourth quarter worth $10,544,000. Retirement Systems of Alabama raised its holdings in shares of Papa John’s Int’l by 0.9% during the first quarter. Retirement Systems of Alabama now owns 29,297 shares of the company’s stock worth $1,551,000 after acquiring an additional 260 shares during the period. Finally, Massey Quick Simon & CO. LLC acquired a new stake in shares of Papa John’s Int’l during the first quarter worth $32,000. 93.40% of the stock is currently owned by institutional investors.

The business’s fifty day moving average is $45.28 and its 200 day moving average is $47.08. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 32.12, a price-to-earnings-growth ratio of 3.20 and a beta of 0.43.

Papa John’s Int’l (NASDAQ:PZZA) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.06. Papa John’s Int’l had a negative net margin of 1.32% and a negative return on equity of 11.61%. The business had revenue of $399.62 million for the quarter, compared to analyst estimates of $394.39 million. During the same period last year, the business posted $0.48 earnings per share. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. As a group, equities research analysts predict that Papa John’s Int’l, Inc. will post 1.13 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 12th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.90 annualized dividend and a yield of 2.09%. Papa John’s Int’l’s payout ratio is currently 67.16%.

Papa John’s Int’l Company Profile (NASDAQ:PZZA)

Papa John's International, Inc operates and franchises pizza delivery and carryout restaurants under the Papa John's trademark in the United States and internationally. It operates through four segments: Domestic Company-Owned Restaurants, North America Commissaries, North America Franchising, and International Operations.

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