Heartland Advisors Inc. Grows Stake in Papa John's International, Inc. $PZZA

Key Points

• Heartland Advisors increased its stake in Papa John’s by 53.3% in the first quarter, buying 83,350 shares and bringing its total holding to 239,850 shares worth about $7.77 million.
• Several other institutional investors also boosted positions in PZZA, while analyst sentiment remained cautious overall, with a consensus rating of “Reduce” and an average price target of $36.50.
• Papa John’s stock was trading around $32.86 and the company recently reported weaker-than-expected earnings and revenue, with quarterly EPS of $0.32 versus $0.40 expected and revenue down 7.7% year over year.

Heartland Advisors Inc. lifted its position in Papa John's International, Inc. (NASDAQ:PZZA - Free Report) by 53.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 239,850 shares of the company's stock after purchasing an additional 83,350 shares during the quarter. Heartland Advisors Inc. owned about 0.73% of Papa John's International worth $7,774,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PZZA. Private Advisor Group LLC boosted its stake in Papa John's International by 6.5% during the third quarter. Private Advisor Group LLC now owns 5,220 shares of the company's stock valued at $251,000 after buying an additional 319 shares during the period. State of Alaska Department of Revenue increased its stake in Papa John's International by 1.8% in the 4th quarter. State of Alaska Department of Revenue now owns 18,642 shares of the company's stock worth $716,000 after acquiring an additional 328 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Papa John's International by 0.8% in the 3rd quarter. Alliancebernstein L.P. now owns 42,662 shares of the company's stock valued at $2,054,000 after acquiring an additional 354 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Papa John's International by 6.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 6,176 shares of the company's stock valued at $238,000 after acquiring an additional 367 shares in the last quarter. Finally, Intech Investment Management LLC boosted its position in shares of Papa John's International by 3.6% during the 4th quarter. Intech Investment Management LLC now owns 11,467 shares of the company's stock valued at $441,000 after acquiring an additional 397 shares during the last quarter.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Zacks Research lowered Papa John's International from a "hold" rating to a "strong sell" rating in a report on Monday, July 13th. Bank of America reaffirmed an "underperform" rating and issued a $34.00 target price (down from $42.00) on shares of Papa John's International in a research note on Monday, July 13th. Piper Sandler dropped their target price on shares of Papa John's International from $32.00 to $30.00 and set a "neutral" rating for the company in a research report on Friday, May 8th. Weiss Ratings cut shares of Papa John's International from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, May 18th. Finally, Stephens reissued an "overweight" rating and issued a $40.00 price target on shares of Papa John's International in a research note on Wednesday, July 1st. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $36.50.

Papa John's International Stock Down 2.5%

Shares of PZZA stock opened at $32.86 on Friday. The business has a 50-day moving average price of $33.85 and a two-hundred day moving average price of $34.68. Papa John's International, Inc. has a 12-month low of $29.55 and a 12-month high of $55.74. The firm has a market cap of $1.08 billion, a P/E ratio of 39.59, a price-to-earnings-growth ratio of 2.15 and a beta of 1.12.

Papa John's International (NASDAQ:PZZA - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.08). The firm had revenue of $478.61 million during the quarter, compared to analysts' expectations of $485.51 million. Papa John's International had a negative return on equity of 10.71% and a net margin of 1.37%.Papa John's International's revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 earnings per share. As a group, research analysts expect that Papa John's International, Inc. will post 1.48 EPS for the current fiscal year.

Papa John's International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were paid a $0.46 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.84 annualized dividend and a yield of 5.6%. Papa John's International's dividend payout ratio is currently 221.69%.

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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