Janney Montgomery Scott LLC Trims Stock Position in Papa John's International, Inc. $PZZA

Key Points

• Janney Montgomery Scott LLC has reduced its stake in Papa John's International by 45.9%, selling 5,698 shares and bringing their total holdings to 6,703 shares valued at $328,000.
• Papa John's reported a quarterly earnings of $0.41 per share, exceeding analyst expectations of $0.34, alongside a revenue of $529.17 million, marking a 4.2% year-over-year increase.
• The company announced a quarterly dividend of $0.46 per share, equating to a 3.5% annualized yield, with a payout ratio of 81.42%.

Janney Montgomery Scott LLC lowered its stake in shares of Papa John's International, Inc. (NASDAQ:PZZA - Free Report) by 45.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 6,703 shares of the company's stock after selling 5,698 shares during the period. Janney Montgomery Scott LLC's holdings in Papa John's International were worth $328,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PZZA. GAMMA Investing LLC raised its stake in shares of Papa John's International by 506.3% during the 1st quarter. GAMMA Investing LLC now owns 2,122 shares of the company's stock valued at $87,000 after buying an additional 1,772 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of Papa John's International during the 1st quarter valued at about $230,000. Bessemer Group Inc. raised its stake in shares of Papa John's International by 2,758.7% during the 1st quarter. Bessemer Group Inc. now owns 2,144 shares of the company's stock valued at $88,000 after buying an additional 2,069 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Papa John's International by 117.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 49,084 shares of the company's stock valued at $2,040,000 after buying an additional 26,505 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Papa John's International by 2.4% in the 1st quarter. Principal Financial Group Inc. now owns 162,923 shares of the company's stock valued at $6,693,000 after purchasing an additional 3,895 shares in the last quarter.

Analyst Ratings Changes

PZZA has been the topic of a number of recent analyst reports. UBS Group reiterated a "neutral" rating and set a $42.00 price target (up previously from $38.00) on shares of Papa John's International in a research report on Monday, August 4th. Benchmark reissued a "buy" rating and issued a $60.00 price objective (up from $50.00) on shares of Papa John's International in a report on Monday, August 11th. Weiss Ratings reissued a "hold (c)" rating on shares of Papa John's International in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft raised their price objective 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. Finally, Stifel Nicolaus raised their price objective 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. Four equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $49.78.

Papa John's International Trading Down 1.9%

NASDAQ:PZZA opened at $52.01 on Monday. Papa John's International, Inc. has a 12 month low of $30.16 and a 12 month high of $60.75. The stock has a 50 day moving average of $47.42 and a two-hundred day moving average of $43.83. The firm has a market cap of $1.70 billion, a P/E ratio of 23.01, a price-to-earnings-growth ratio of 4.42 and a beta of 1.10.

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. 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 during the quarter, compared to analyst estimates of $515.48 million. During the same period in the previous year, the business earned $0.61 EPS. Papa John's International's quarterly revenue was up 4.2% on a year-over-year basis. On average, research analysts forecast that Papa John's International, Inc. will post 2.19 earnings per share for the current year.

Papa John's International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders 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 3.5%. The ex-dividend date was Monday, August 18th. Papa John's International's 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.

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