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

Papa John’s Int’l, Inc. (NASDAQ:PZZA) shares fell 5.4% during 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 changed 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.

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

In related news, Director Anthony Michael Sanfilippo acquired 1,000 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were purchased at an average cost of $47.79 per share, with a total value of $47,790.00. Following the completion of the acquisition, the director now directly owns 3,654 shares of the company’s stock, valued at $174,624.66. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder John H. Schnatter sold 3,451,413 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $45.63, for a total transaction of $157,487,975.19. Following the sale, 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. 43.00% of the stock is owned by insiders.



Institutional investors and hedge funds have recently made changes to their positions in the company. KG&L Capital Management LLC grew its holdings in shares of Papa John’s Int’l by 20.0% during the second quarter. KG&L Capital Management LLC now owns 6,001 shares of the company’s stock valued at $268,000 after buying an additional 1,000 shares during the last quarter. Parallel Advisors LLC purchased a new stake in Papa John’s Int’l in the first quarter valued at $26,000. AE Wealth Management LLC purchased a new stake in Papa John’s Int’l in the second quarter valued at $219,000. TD Asset Management Inc. boosted its holdings in Papa John’s Int’l by 51.0% in the first quarter. TD Asset Management Inc. now owns 29,017 shares of the company’s stock valued at $1,536,000 after purchasing an additional 9,800 shares during the last quarter. Finally, Dupont Capital Management Corp boosted its holdings in Papa John’s Int’l by 34.2% in the first quarter. Dupont Capital Management Corp now owns 3,532 shares of the company’s stock valued at $187,000 after purchasing an additional 900 shares during the last quarter. 93.40% of the stock is currently owned by hedge funds and other institutional investors.

The firm has a market capitalization of $1.43 billion, a P/E ratio of 32.12, a PEG ratio of 3.20 and a beta of 0.43. The business’s fifty day simple moving average is $45.24.

Papa John’s Int’l (NASDAQ:PZZA) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.28 EPS for the quarter, beating the consensus estimate 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 company had revenue of $399.62 million for the quarter, compared to analyst estimates of $394.39 million. During the same period in the prior year, the company earned $0.48 earnings per share. The firm’s revenue was down 7.1% on a year-over-year basis. Research analysts forecast 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 issued a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 2.09%. The ex-dividend date is Friday, August 9th. Papa John’s Int’l’s payout ratio is 67.16%.

About Papa John’s Int’l (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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