NewEdge Wealth LLC Buys New Shares in Papa John's International, Inc. (NASDAQ:PZZA)

Key Points

• NewEdge Wealth LLC acquired a new stake in Papa John's International, purchasing 349,276 shares valued at approximately $14.35 million, representing about 1.07% ownership by the end of the last quarter.
• Papa John's International recently reported an earnings per share (EPS) of $0.36, exceeding analysts' expectations of $0.33, with quarterly revenue increasing by 0.9% year-over-year.
• The company announced a quarterly dividend of $0.46 per share, which will yield 4.4% annually, with a payout ratio of 78.3%.

NewEdge Wealth LLC bought a new stake in Papa John's International, Inc. (NASDAQ:PZZA - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 349,276 shares of the company's stock, valued at approximately $14,348,000. NewEdge Wealth LLC owned approximately 1.07% of Papa John's International at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Alberta Investment Management Corp bought a new position in shares of Papa John's International in the first quarter valued at $5,020,000. Natixis Advisors LLC grew its stake in shares of Papa John's International by 38.1% in the first quarter. Natixis Advisors LLC now owns 230,014 shares of the company's stock valued at $9,449,000 after buying an additional 63,416 shares in the last quarter. XTX Topco Ltd grew its stake in shares of Papa John's International by 13.5% in the first quarter. XTX Topco Ltd now owns 25,707 shares of the company's stock valued at $1,056,000 after buying an additional 3,060 shares in the last quarter. LPL Financial LLC grew its stake in shares of Papa John's International by 438.4% in the first quarter. LPL Financial LLC now owns 68,528 shares of the company's stock valued at $2,815,000 after buying an additional 55,801 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Papa John's International by 19.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,608 shares of the company's stock valued at $395,000 after buying an additional 1,542 shares in the last quarter.

Papa John's International Stock Down 1.5%

PZZA stock opened at $41.79 on Friday. The company has a market cap of $1.37 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 3.61 and a beta of 1.13. The business has a 50-day simple moving average of $46.84 and a 200 day simple moving average of $42.41. Papa John's International, Inc. has a 52 week low of $30.16 and a 52 week high of $60.75.

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

Papa John's International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 4.4%. Papa John's International's payout ratio is 78.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Benchmark reaffirmed a "buy" rating and set a $50.00 price objective on shares of Papa John's International in a research report on Monday, May 12th. UBS Group reduced their price objective on shares of Papa John's International from $45.00 to $38.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Stephens reaffirmed an "overweight" rating and set a $50.00 price objective on shares of Papa John's International in a research report on Thursday, June 12th. Stifel Nicolaus reduced their price objective on shares of Papa John's International from $40.00 to $38.00 and set a "hold" rating for the company in a research report on Tuesday, April 15th. Finally, Loop Capital reduced their price objective on shares of Papa John's International from $60.00 to $56.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Papa John's International has a consensus rating of "Hold" and a consensus target price of $51.25.

Papa John's International Company Profile

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.

Want to see what other hedge funds are holding PZZA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Papa John's International, Inc. (NASDAQ:PZZA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.