Papa John’s International (NASDAQ:PZZA) Hits New 1-Year Low After Analyst Downgrade

Papa John’s International, Inc. (NASDAQ:PZZAGet Rating)’s stock price reached a new 52-week low during mid-day trading on Tuesday after Stifel Nicolaus lowered their price target on the stock from $120.00 to $100.00. Stifel Nicolaus currently has a buy rating on the stock. Papa John’s International traded as low as $72.76 and last traded at $74.30, with a volume of 9661 shares trading hands. The stock had previously closed at $76.77.

A number of other analysts also recently weighed in on PZZA. Benchmark lifted their price target on Papa John’s International to $105.00 in a research note on Tuesday, August 9th. BTIG Research lifted their price target on Papa John’s International from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, August 17th. Credit Suisse Group decreased their price target on Papa John’s International to $123.00 in a research note on Tuesday, August 9th. Deutsche Bank Aktiengesellschaft decreased their price target on Papa John’s International from $109.00 to $92.00 in a research note on Monday, July 18th. Finally, KeyCorp decreased their price target on Papa John’s International from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, August 5th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Papa John’s International currently has an average rating of “Moderate Buy” and a consensus target price of $120.64.

Insider Activity

In related news, insider Marvin Boakye sold 2,950 shares of the company’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $85.57, for a total value of $252,431.50. Following the completion of the transaction, the insider now directly owns 11,920 shares in the company, valued at $1,019,994.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On Papa John’s International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in Papa John’s International by 5.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,925,719 shares of the company’s stock worth $327,876,000 after acquiring an additional 203,059 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Papa John’s International by 12.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,384,078 shares of the company’s stock valued at $115,597,000 after buying an additional 157,814 shares in the last quarter. State Street Corp grew its stake in shares of Papa John’s International by 1.5% in the first quarter. State Street Corp now owns 1,116,520 shares of the company’s stock valued at $117,547,000 after buying an additional 16,767 shares in the last quarter. Invesco Ltd. grew its stake in shares of Papa John’s International by 94.5% in the fourth quarter. Invesco Ltd. now owns 1,079,046 shares of the company’s stock valued at $144,019,000 after buying an additional 524,219 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its stake in shares of Papa John’s International by 20.7% in the second quarter. Artisan Partners Limited Partnership now owns 1,031,479 shares of the company’s stock valued at $86,149,000 after buying an additional 176,801 shares in the last quarter. 96.62% of the stock is currently owned by institutional investors and hedge funds.

Papa John’s International Stock Down 1.7 %

The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 30.80, a price-to-earnings-growth ratio of 1.73 and a beta of 1.09. The business has a 50 day moving average price of $86.28 and a 200-day moving average price of $89.93.

Papa John’s International (NASDAQ:PZZAGet Rating) last posted its earnings results on Thursday, August 4th. The company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.02). Papa John’s International had a net margin of 4.26% and a negative return on equity of 63.53%. The company had revenue of $522.67 million during the quarter, compared to analyst estimates of $531.70 million. During the same quarter last year, the business posted $0.93 EPS. Papa John’s International’s quarterly revenue was up 1.5% compared to the same quarter last year. Research analysts anticipate that Papa John’s International, Inc. will post 3.04 earnings per share for the current fiscal year.

Papa John’s International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Monday, August 15th were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, August 12th. This represents a $1.68 dividend on an annualized basis and a yield of 2.23%. This is an increase from Papa John’s International’s previous quarterly dividend of $0.35. Papa John’s International’s dividend payout ratio is currently 68.57%.

Papa John’s International Company Profile

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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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