First Hawaiian Bank Trims Stock Holdings in Papa John's International, Inc. $PZZA

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 cut its holdings in shares of Papa John's International, Inc. (NASDAQ:PZZA - Free Report) by 42.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,765 shares of the company's stock after selling 8,779 shares during the period. First Hawaiian Bank's holdings in Papa John's International were worth $483,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PZZA. Caitong International Asset Management Co. Ltd boosted its position in shares of Papa John's International by 4,646.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 712 shares of the company's stock valued at $29,000 after buying an additional 697 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Papa John's International by 937.8% during the first quarter. Smartleaf Asset Management LLC now owns 851 shares of the company's stock valued at $34,000 after buying an additional 769 shares during the last quarter. 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 valued at $57,000 after buying an additional 947 shares during the last quarter. 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 valued at $66,000 after buying an additional 344 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of Papa John's International during the fourth quarter valued at $87,000.

Analyst Upgrades and Downgrades

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

Papa John's International Stock Up 0.7%

NASDAQ PZZA opened at $50.41 on Monday. The stock's 50-day moving average price is $45.95 and its 200-day moving average price is $43.29. Papa John's International, Inc. has a 52 week low of $30.16 and a 52 week high of $60.75. The company has a market capitalization of $1.65 billion, a P/E ratio of 22.31, a price-to-earnings-growth ratio of 2.78 and a beta of 1.15.

Papa John's International (NASDAQ:PZZA - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.34 by $0.07. The firm had revenue of $529.17 million for 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 for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.61 earnings per share. Research analysts anticipate that Papa John's International, Inc. will post 2.19 EPS for the current year.

Papa John's International Dividend Announcement

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

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