Aristeia Capital L.L.C. Takes Position in Papa John's International, Inc. $PZZA

Key Points

• Aristeia Capital L.L.C. has acquired a new position in Papa John's International, Inc., investing $257,000 to purchase 6,262 shares during the first quarter.
• Papa John's reported a revenue increase of 4.2% year-over-year, reaching $529.17 million for the latest quarter, along with an EPS of $0.41 that surpassed expectations.
• The company recently declared a quarterly dividend of $0.46, resulting in an annualized dividend yield of 3.7% and a payout ratio of 81.42%.

Aristeia Capital L.L.C. bought a new stake in shares of Papa John's International, Inc. (NASDAQ:PZZA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,262 shares of the company's stock, valued at approximately $257,000.

Other large investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd grew its position in shares of Papa John's International by 4,646.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 712 shares of the company's stock valued at $29,000 after purchasing an additional 697 shares in the last quarter. Smartleaf Asset Management LLC grew its position in Papa John's International by 937.8% in the first quarter. Smartleaf Asset Management LLC now owns 851 shares of the company's stock worth $34,000 after acquiring an additional 769 shares during the period. Signaturefd LLC boosted its position in shares of Papa John's International by 214.7% during the first quarter. Signaturefd LLC now owns 1,388 shares of the company's stock worth $57,000 after buying an additional 947 shares during the period. CWM LLC boosted its position in shares of Papa John's International by 27.2% during the first quarter. CWM LLC now owns 1,610 shares of the company's stock worth $66,000 after buying an additional 344 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Papa John's International by 506.3% during the first quarter. GAMMA Investing LLC now owns 2,122 shares of the company's stock worth $87,000 after buying an additional 1,772 shares during the period.

Papa John's International Stock Performance

Papa John's International stock traded up $0.36 during trading on Friday, reaching $50.41. 619,234 shares of the company's stock were exchanged, compared to its average volume of 1,300,900. The company's 50-day moving average is $45.92 and its two-hundred day moving average is $43.33. Papa John's International, Inc. has a 52-week low of $30.16 and a 52-week high of $60.75. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 2.74 and a beta of 1.15.

Papa John's International (NASDAQ:PZZA - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. Papa John's International had a net margin of 3.58% and a negative return on equity of 14.42%. The firm had revenue of $529.17 million during the quarter, compared to analysts' expectations of $515.48 million. During the same period in the prior year, the company earned $0.61 EPS. The firm's revenue was up 4.2% on a year-over-year basis. Analysts anticipate that Papa John's International, Inc. will post 2.19 EPS for the current year.

Papa John's International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were issued a $0.46 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.84 dividend on an annualized basis and a yield of 3.7%. Papa John's International's payout ratio is currently 81.42%.

Analysts Set New Price Targets

Several analysts have recently issued reports on PZZA shares. Stephens reiterated an "overweight" rating and issued a $52.00 price objective (up from $50.00) on shares of Papa John's International in a research note on Friday, August 8th. Deutsche Bank Aktiengesellschaft raised their price target on Papa John's International from $40.00 to $46.00 and gave the company a "hold" rating in a research note on Monday, August 11th. Benchmark reaffirmed a "buy" rating and set a $60.00 price objective (up previously from $50.00) on shares of Papa John's International in a report on Monday, August 11th. Stifel Nicolaus raised their price objective on Papa John's International from $38.00 to $42.00 and gave the stock a "hold" rating in a report on Friday, August 15th. Finally, UBS Group reaffirmed a "neutral" rating and set a $42.00 price objective (up previously from $38.00) on shares of Papa John's International in a report on Monday, August 4th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Papa John's International presently has an average rating of "Hold" and an average price target of $52.33.

Papa John's International Company Profile

Papa John's International, Inc engages in the operation and franchise of pizza delivery and carryout restaurants. It operates through the following segments: Domestic Company-owned Restaurants, North America Franchising, North America Commissaries, International Operations, and All Others. The Domestic Company-Owned Restaurants segment consists of retail sales of pizza and side items, breadsticks, cheese sticks, chicken poppers and wings, dessert items, and canned and bottled beverages.