228,250 Shares in Papa John's International, Inc. $PZZA Bought by Heartland Advisors Inc.

Key Points

• Heartland Advisors acquired 228,250 Papa John’s shares worth approximately $8.4 million, giving it a 0.69% stake. Several other institutional investors also initiated or increased positions during the second quarter.
• Analysts remain cautious, with multiple firms cutting price targets; the stock carries an average “Reduce” rating and a consensus target of $32.00. Zacks also lowered earnings forecasts and maintained a “Strong Sell” rating.
• Papa John’s slightly exceeded quarterly EPS and revenue estimates, but revenue declined 8.8% year over year. The stock opened at $23.94, near its 52-week low of $22.77 and well below its $55.74 high.

Heartland Advisors Inc. purchased a new position in shares of Papa John's International, Inc. (NASDAQ:PZZA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 228,250 shares of the company's stock, valued at approximately $8,393,000. Heartland Advisors Inc. owned about 0.69% of Papa John's International as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PZZA. BlackRock Inc. purchased a new position in Papa John's International in the 2nd quarter valued at $182,315,000. Deutsche Bank AG acquired a new position in shares of Papa John's International during the second quarter worth about $1,814,000. Persistent Asset Partners Ltd acquired a new stake in Papa John's International in the second quarter valued at about $33,000. Alberta Investment Management Corp purchased a new stake in Papa John's International in the 2nd quarter valued at approximately $10,138,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Papa John's International during the 2nd quarter worth approximately $13,942,000.

Analysts Set New Price Targets

Several research analysts have issued reports on PZZA shares. Stephens reiterated an "equal weight" rating and issued a $24.00 price objective (down from $38.00) on shares of Papa John's International in a research report on Friday, August 7th. Piper Sandler cut their price target on shares of Papa John's International from $30.00 to $26.00 and set a "neutral" rating for the company in a report on Friday, August 7th. Bank of America reiterated an "underperform" rating and issued a $34.00 price objective (down from $42.00) on shares of Papa John's International in a research note on Monday, July 13th. Mizuho decreased their price objective on shares of Papa John's International from $33.00 to $32.00 and set a "neutral" rating on the stock in a report on Friday, July 31st. Finally, Wall Street Zen raised shares of Papa John's International from a "sell" rating to a "hold" rating in a report on Sunday, July 26th. Six research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Papa John's International has an average rating of "Reduce" and an average price target of $32.00.

Papa John's International News Roundup

Here are the key news stories impacting Papa John's International this week:

• Neutral Sentiment: Investors purchased 24,081 put options on Friday, about 453% above the typical volume of 4,355 contracts. The activity signals heightened expectations for downside risk, although options trading alone does not confirm the direction of the stock.
• Negative Sentiment: Zacks Research lowered its Papa John's earnings forecasts across multiple periods and maintained a “Strong Sell” rating. Its FY2026 EPS estimate fell to $1.21 from $1.40, FY2027 to $1.00 from $1.55, and FY2028 to $1.54 from $1.74.
• Negative Sentiment: The quarterly revisions were also substantial: Q3 2026 EPS was reduced to $0.14 from $0.28, Q4 2026 to $0.29 from $0.39, Q1 2027 to $0.28 from $0.46, and Q2 2027 to $0.20 from $0.39. Additional cuts lowered Q3 2027 EPS to $0.26 from $0.32 and Q2 2028 to $0.27 from $0.38.
• Negative Sentiment: The estimate reductions place Zacks’ FY2027 forecast at $1.00 per share, below the broader current-year consensus of $1.22, reinforcing concerns about the company’s earnings trajectory.

Papa John's International Stock Up 2.7%

Papa John's International stock opened at $23.94 on Friday. Papa John's International, Inc. has a 52 week low of $22.77 and a 52 week high of $55.74. The firm has a market capitalization of $788.10 million, a PE ratio of 30.30, a P/E/G ratio of 2.43 and a beta of 1.13. The firm's 50-day simple moving average is $31.17 and its 200 day simple moving average is $32.92.

Papa John's International (NASDAQ:PZZA - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.01. The firm had revenue of $482.40 million for the quarter, compared to analyst estimates of $481.25 million. Papa John's International had a negative return on equity of 10.98% and a net margin of 1.34%.Papa John's International's revenue was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. On average, research analysts expect that Papa John's International, Inc. will post 1.22 EPS for the current fiscal year.

About Papa John's International

Papa John's International, Inc is a leading American pizza restaurant chain known for its focus on high-quality ingredients and consistent product offerings. Founded in 1984 by John Schnatter in Jeffersonville, Indiana, the company has grown to operate thousands of restaurants across the United States and in more than 40 international markets. Papa John's restaurants are primarily franchised, supported by a network of corporate-owned outlets that together drive brand standards, operational guidance and marketing efforts.

The core menu at Papa John's centers on a variety of hand-tossed and pan pizzas made with a signature stone-baked crust and topped with real cheese, vine-ripened tomato sauce and premium meats and vegetables.

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