MKM Partners downgraded shares of Papa John’s Int’l (NASDAQ:PZZA) from a buy rating to a neutral rating in a report issued on Thursday, The Fly reports. MKM Partners currently has $50.00 price target on the stock, down from their prior price target of $55.00.
Several other equities research analysts have also issued reports on PZZA. BidaskClub lowered Papa John’s Int’l from a strong-buy rating to a buy rating in a research note on Saturday, November 2nd. Citigroup dropped their price objective on Papa John’s Int’l from $60.00 to $58.00 and set a buy rating for the company in a research note on Thursday, August 15th. Northcoast Research reissued a buy rating on shares of Papa John’s Int’l in a research note on Thursday, October 24th. BTIG Research lifted their price objective on Papa John’s Int’l to $62.00 and gave the company a buy rating in a research note on Tuesday, October 29th. Finally, Credit Suisse Group lifted their price objective on Papa John’s Int’l to $66.00 and gave the company an outperform rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. Papa John’s Int’l currently has an average rating of Buy and a consensus price target of $61.56.
Shares of PZZA traded down $0.82 on Thursday, reaching $61.76. 1,218,300 shares of the company’s stock traded hands, compared to its average volume of 994,724. The stock has a market cap of $1.82 billion, a PE ratio of 46.09, a PEG ratio of 5.70 and a beta of 0.41. Papa John’s Int’l has a 52-week low of $38.29 and a 52-week high of $63.29. The stock’s 50 day simple moving average is $54.93 and its two-hundred day simple moving average is $49.50.
Papa John’s Int’l (NASDAQ:PZZA) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.01). The business had revenue of $403.71 million for the quarter, compared to the consensus estimate of $384.54 million. Papa John’s Int’l had a negative net margin of 1.32% and a negative return on equity of 11.61%. Papa John’s Int’l’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.19 EPS. As a group, analysts forecast that Papa John’s Int’l will post 1.15 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Monday, November 11th will be given a dividend of $0.225 per share. The ex-dividend date is Thursday, November 7th. This represents a $0.90 dividend on an annualized basis and a yield of 1.46%. Papa John’s Int’l’s payout ratio is 67.16%.
In other Papa John’s Int’l news, major shareholder John H. Schnatter sold 1,900,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $56.60, for a total transaction of $107,540,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder John H. Schnatter sold 475,861 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $43.22, for a total value of $20,566,712.42. Following the sale, the insider now owns 4,785,682 shares in the company, valued at approximately $206,837,176.04. The disclosure for this sale can be found here. Insiders have sold 2,575,861 shares of company stock worth $138,144,712 in the last 90 days. Company insiders own 43.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC raised its position in Papa John’s Int’l by 571.0% during the third quarter. Tower Research Capital LLC TRC now owns 2,315 shares of the company’s stock valued at $121,000 after purchasing an additional 1,970 shares in the last quarter. Symons Capital Management Inc. purchased a new position in shares of Papa John’s Int’l in the third quarter worth about $215,000. Brasada Capital Management LP purchased a new position in shares of Papa John’s Int’l in the third quarter worth about $314,000. CNB Bank increased its holdings in shares of Papa John’s Int’l by 356.1% in the third quarter. CNB Bank now owns 1,560 shares of the company’s stock worth $82,000 after buying an additional 1,218 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Papa John’s Int’l in the third quarter worth about $132,000. Institutional investors and hedge funds own 92.75% of the company’s stock.
About Papa John’s Int’l
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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