Papa John's International, Inc. $PZZA Shares Sold by First Hawaiian Bank

Key Points

• First Hawaiian Bank reduced its stake in Papa John's International by 42.7% during the first quarter, leaving it with 11,765 shares valued at approximately $483,000.
• Several institutional investors increased their holdings significantly, with notable increases including Caitong International Asset Management which boosted its position by 4,646.7%.
• Papa John's reported earnings surpassed expectations with $0.41 EPS against an estimated $0.34, while revenue also exceeded forecasts at $529.17 million.

First Hawaiian Bank trimmed its holdings in shares of Papa John's International, Inc. (NASDAQ:PZZA - Free Report) by 42.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,765 shares of the company's stock after selling 8,779 shares during the quarter. First Hawaiian Bank's holdings in Papa John's International were worth $483,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Point72 Asset Management L.P. bought a new stake in Papa John's International in the fourth quarter valued at about $17,328,000. NewEdge Wealth LLC bought a new position in shares of Papa John's International during the first quarter valued at approximately $14,348,000. Woodline Partners LP bought a new position in shares of Papa John's International during the first quarter valued at approximately $10,115,000. Segall Bryant & Hamill LLC grew its holdings in shares of Papa John's International by 34.7% during the first quarter. Segall Bryant & Hamill LLC now owns 776,169 shares of the company's stock valued at $31,885,000 after purchasing an additional 199,840 shares during the last quarter. Finally, Kodai Capital Management LP bought a new position in shares of Papa John's International during the first quarter valued at approximately $5,640,000.

Analyst Ratings Changes

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

Papa John's International Price Performance

Shares of NASDAQ PZZA traded up $1.75 during midday trading on Friday, hitting $47.51. 2,019,086 shares of the company's stock were exchanged, compared to its average volume of 1,098,606. The stock's 50 day moving average price is $45.93 and its 200-day moving average price is $43.39. The firm has a market cap of $1.56 billion, a P/E ratio of 21.02, a PEG ratio of 2.52 and a beta of 1.15. Papa John's International, Inc. has a twelve month low of $30.16 and a twelve month high of $60.75.

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

Papa John's International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Monday, August 18th. Papa John's International's dividend payout ratio is 81.42%.

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.