Papa John's International, Inc. $PZZA Shares Bought by Comerica Bank

Key Points

• Comerica Bank increased its stake in Papa John's International by 49.7% during the first quarter, owning 28,233 shares valued at approximately $1.16 million.
• Papa John's International reported earnings of $0.41 per share, beating expectations and showing a revenue increase of 4.2% year-over-year, with profits driven by a net margin of 3.58%.
• The company recently declared a quarterly dividend of $0.46 per share, representing an annual yield of 3.9% with a payout ratio of 81.42%.

Comerica Bank raised its position in shares of Papa John's International, Inc. (NASDAQ:PZZA - Free Report) by 49.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,233 shares of the company's stock after purchasing an additional 9,373 shares during the quarter. Comerica Bank owned 0.09% of Papa John's International worth $1,160,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its stake 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 worth $29,000 after buying an additional 697 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Papa John's International by 937.8% during the first quarter. Smartleaf Asset Management LLC now owns 851 shares of the company's stock worth $34,000 after purchasing an additional 769 shares in the last quarter. Signaturefd LLC raised its holdings 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 valued at $57,000 after acquiring an additional 947 shares during the last quarter. CWM LLC raised its holdings 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 valued at $66,000 after acquiring an additional 344 shares during the last quarter. Finally, State of Wyoming acquired a new position in shares of Papa John's International during the fourth quarter valued at approximately $87,000.

Papa John's International Stock Up 2.0%

PZZA stock traded up $0.98 during trading on Wednesday, hitting $49.74. The company had a trading volume of 1,012,299 shares, compared to its average volume of 1,018,104. The firm has a market cap of $1.63 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 2.69 and a beta of 1.15. Papa John's International, Inc. has a 1-year low of $30.16 and a 1-year high of $60.75. The firm has a 50-day moving average price of $45.90 and a 200-day moving average price of $43.32.

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

Papa John's International Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

About Papa John's International

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.