Envestnet Asset Management Inc. Grows Position in Papa John’s International, Inc. (NASDAQ:PZZA)

Envestnet Asset Management Inc. lifted its stake in Papa John’s International, Inc. (NASDAQ:PZZAGet Rating) by 31.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 13,624 shares of the company’s stock after buying an additional 3,245 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Papa John’s International were worth $1,138,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PZZA. 1832 Asset Management L.P. raised its stake in Papa John’s International by 123.5% during the first quarter. 1832 Asset Management L.P. now owns 295,978 shares of the company’s stock valued at $30,732,000 after purchasing an additional 163,522 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Papa John’s International by 12.9% during 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 purchasing an additional 157,814 shares in the last quarter. Eaton Vance Management raised its stake in Papa John’s International by 9,772.9% during the first quarter. Eaton Vance Management now owns 157,473 shares of the company’s stock valued at $16,578,000 after purchasing an additional 155,878 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in Papa John’s International by 36.0% during the first quarter. Westwood Holdings Group Inc. now owns 331,738 shares of the company’s stock valued at $34,926,000 after purchasing an additional 87,835 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in Papa John’s International by 68.2% during the first quarter. Bank of America Corp DE now owns 184,405 shares of the company’s stock valued at $19,414,000 after purchasing an additional 74,752 shares in the last quarter. Hedge funds and other institutional investors own 96.62% of the company’s stock.

Papa John’s International Price Performance

Shares of Papa John’s International stock opened at $84.09 on Thursday. Papa John’s International, Inc. has a 1 year low of $66.74 and a 1 year high of $138.52. The firm’s 50-day moving average is $75.38 and its two-hundred day moving average is $81.95. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 44.49, a PEG ratio of 1.87 and a beta of 1.10.

Papa John’s International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Monday, November 14th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, November 10th. Papa John’s International’s payout ratio is 88.89%.

Wall Street Analyst Weigh In

PZZA has been the topic of several recent analyst reports. Wedbush reduced their target price on shares of Papa John’s International from $95.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, November 3rd. UBS Group reduced their target price on shares of Papa John’s International to $80.00 in a research note on Friday, November 4th. Benchmark increased their target price on shares of Papa John’s International to $105.00 in a research note on Tuesday, August 9th. BMO Capital Markets reduced their target price on shares of Papa John’s International from $125.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday, November 4th. Finally, BTIG Research cut their price target on shares of Papa John’s International from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, October 7th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.15.

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

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