BlackRock Inc. Purchases New Position in Papa John's International, Inc. $PZZA

Key Points

• BlackRock acquired 4.96 million shares of Papa John’s International in the second quarter, worth approximately $182.3 million and representing a 15.07% stake.
• Analyst sentiment remains cautious: the stock carries a consensus “Reduce” rating, with six Hold and three Sell ratings and an average price target of $32.
• PZZA opened at $23.23, near its 12-month low, despite slightly beating quarterly earnings expectations with $0.46 EPS and $482.4 million in revenue; revenue declined 8.8% year over year.

BlackRock Inc. acquired a new position in shares of Papa John's International, Inc. (NASDAQ:PZZA - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,958,259 shares of the company's stock, valued at approximately $182,315,000. BlackRock Inc. owned approximately 15.07% of Papa John's International at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Royal Bank of Canada grew its stake in shares of Papa John's International by 32.8% during the first quarter. Royal Bank of Canada now owns 19,028 shares of the company's stock worth $781,000 after buying an additional 4,705 shares during the last quarter. AQR Capital Management LLC acquired a new position in shares of Papa John's International during the first quarter worth $600,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Papa John's International by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,785 shares of the company's stock valued at $813,000 after acquiring an additional 879 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Papa John's International by 25.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 310,653 shares of the company's stock valued at $12,762,000 after acquiring an additional 62,103 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Papa John's International by 81.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,592 shares of the company's stock valued at $4,625,000 after acquiring an additional 50,536 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. UBS Group reduced their price objective on Papa John's International from $33.00 to $28.00 and set a "neutral" rating on the stock in a research report on Friday, August 7th. Stephens reiterated an "equal weight" rating and issued a $24.00 target price (down from $38.00) on shares of Papa John's International in a research report on Friday, August 7th. Weiss Ratings raised Papa John's International from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, August 21st. Benchmark cut Papa John's International from a "buy" rating to a "hold" rating in a report on Friday, August 7th. Finally, Wall Street Zen upgraded shares of Papa John's International from a "sell" rating to a "hold" rating in a report on Sunday, July 26th. Six investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $32.00.

Papa John's International Stock Down 1.6%

PZZA opened at $23.23 on Friday. Papa John's International, Inc. has a twelve month low of $22.77 and a twelve month high of $55.74. The company has a fifty day moving average of $30.30 and a 200-day moving average of $32.62. The stock has a market cap of $764.73 million, a PE ratio of 29.41, a price-to-earnings-growth ratio of 2.46 and a beta of 1.13.

Papa John's International (NASDAQ:PZZA - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.01. Papa John's International had a net margin of 1.34% and a negative return on equity of 10.98%. The business had revenue of $482.40 million for the quarter, compared to analysts' expectations of $481.25 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The business's quarterly revenue was down 8.8% compared to the same quarter last year. Sell-side analysts anticipate 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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