Kingsview Wealth Management LLC Invests $2.91 Million in Papa John's International, Inc. (NASDAQ:PZZA)

Kingsview Wealth Management LLC purchased a new position in shares of Papa John's International, Inc. (NASDAQ:PZZA - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 70,746 shares of the company's stock, valued at approximately $2,906,000. Kingsview Wealth Management LLC owned approximately 0.22% of Papa John's International at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its position in 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 worth $2,040,000 after buying an additional 26,505 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Papa John's International during the 4th quarter worth about $5,647,000. Sei Investments Co. raised its holdings in Papa John's International by 7.3% during the 4th quarter. Sei Investments Co. now owns 1,500,739 shares of the company's stock worth $61,635,000 after purchasing an additional 102,128 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in Papa John's International during the 1st quarter worth about $230,000. Finally, Wellington Management Group LLP raised its holdings in Papa John's International by 31.8% during the 4th quarter. Wellington Management Group LLP now owns 387,699 shares of the company's stock worth $15,923,000 after purchasing an additional 93,561 shares during the last quarter.

Papa John's International Stock Up 1.4%

Shares of NASDAQ PZZA traded up $0.61 during trading hours on Tuesday, hitting $45.35. The company had a trading volume of 844,723 shares, compared to its average volume of 1,240,631. The stock has a market capitalization of $1.48 billion, a P/E ratio of 19.30, a price-to-earnings-growth ratio of 3.87 and a beta of 1.19. Papa John's International, Inc. has a 1-year low of $30.16 and a 1-year high of $60.75. The firm's 50 day moving average is $46.50 and its 200-day moving average is $42.14.

Papa John's International (NASDAQ:PZZA - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.03. Papa John's International had a negative return on equity of 15.72% and a net margin of 3.77%. The business had revenue of $518.31 million during the quarter, compared to the consensus estimate of $512.48 million. During the same quarter last year, the firm posted $0.67 EPS. The company's quarterly revenue was up .9% on a year-over-year basis. On average, sell-side analysts predict that Papa John's International, Inc. will post 2.19 earnings per share for the current year.

Papa John's International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 4.06%. The ex-dividend date of this dividend was Monday, May 19th. Papa John's International's dividend payout ratio is 78.30%.

Analyst Upgrades and Downgrades

PZZA has been the subject of several recent research reports. Stephens reissued an "overweight" rating and set a $50.00 price objective on shares of Papa John's International in a report on Thursday, June 12th. UBS Group dropped their price objective on Papa John's International from $45.00 to $38.00 and set a "neutral" rating for the company in a report on Monday, May 5th. Stifel Nicolaus dropped their price objective on Papa John's International from $40.00 to $38.00 and set a "hold" rating for the company in a report on Tuesday, April 15th. Benchmark reissued a "buy" rating and set a $50.00 price objective on shares of Papa John's International in a report on Monday, May 12th. Finally, Loop Capital lowered their price target on Papa John's International from $60.00 to $56.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Papa John's International presently has a consensus rating of "Hold" and an average price target of $51.25.

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.