Deprince Race & Zollo Inc. Grows Stock Position in Papa John's International, Inc. $PZZA

Key Points

• Deprince Race & Zollo Inc. raised its stake in Papa John's by 2.7% to 1,657,994 shares, now owning about 5.06% of the company (worth ~$63.8M) and making PZZA its 15th largest holding.
• Analysts' consensus is an average "Hold" rating with an average target price of $45, following several recent price-target cuts and mixed broker reports.
• Papa John's slightly beat EPS ($0.34 vs. $0.33) but missed revenue ( $498.2M vs. $517.3M) with revenue down 6.1% YoY, and it pays a $0.46 quarterly dividend (about a 5.2% yield) despite a 206.7% payout ratio.

Deprince Race & Zollo Inc. lifted its stake in Papa John's International, Inc. (NASDAQ:PZZA - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,657,994 shares of the company's stock after purchasing an additional 42,810 shares during the period. Papa John's International comprises about 1.2% of Deprince Race & Zollo Inc.'s holdings, making the stock its 15th largest holding. Deprince Race & Zollo Inc. owned about 5.06% of Papa John's International worth $63,816,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Irenic Capital Management LP purchased a new stake in Papa John's International during the 3rd quarter worth about $51,699,000. Cantor Fitzgerald L. P. purchased a new stake in Papa John's International during the 3rd quarter worth about $12,374,000. Willis Investment Counsel purchased a new stake in Papa John's International during the 4th quarter worth about $1,336,000. Kingsview Wealth Management LLC purchased a new stake in Papa John's International during the 3rd quarter worth about $3,105,000. Finally, Gradient Investments LLC purchased a new stake in Papa John's International during the 3rd quarter worth about $13,036,000.

Analysts Set New Price Targets

A number of brokerages have issued reports on PZZA. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Papa John's International in a report on Friday, March 27th. Zacks Research raised Papa John's International from a "strong sell" rating to a "hold" rating in a report on Monday, January 26th. Benchmark decreased their price target on Papa John's International from $60.00 to $50.00 and set a "buy" rating for the company in a report on Friday, February 27th. Mizuho decreased their price target on Papa John's International from $40.00 to $34.00 and set a "neutral" rating for the company in a report on Friday, February 20th. Finally, Stephens decreased their price target on Papa John's International from $49.00 to $40.00 and set an "overweight" rating for the company in a report on Friday, February 27th. Three research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $45.00.

Papa John's International Stock Performance

Papa John's International stock opened at $35.63 on Monday. Papa John's International, Inc. has a fifty-two week low of $29.55 and a fifty-two week high of $55.74. The company has a market capitalization of $1.17 billion, a P/E ratio of 40.03, a PEG ratio of 1.70 and a beta of 1.18. The stock has a 50-day simple moving average of $33.59 and a 200-day simple moving average of $39.45.

Papa John's International (NASDAQ:PZZA - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.01. Papa John's International had a negative return on equity of 11.16% and a net margin of 1.44%.The business had revenue of $498.18 million during the quarter, compared to the consensus estimate of $517.25 million. During the same period in the previous year, the business earned $0.63 EPS. The business's quarterly revenue was down 6.1% on a year-over-year basis. As a group, analysts forecast that Papa John's International, Inc. will post 2.19 earnings per share for the current year.

Papa John's International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Monday, February 9th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 5.2%. The ex-dividend date was Monday, February 9th. Papa John's International's payout ratio is 206.74%.

Papa John's International Profile

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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