Segall Bryant & Hamill LLC Trims Stock Holdings in Papa John's International, Inc. $PZZA

Key Points

• Segall Bryant & Hamill cut its Papa John’s stake by 22.5% in the first quarter, selling 238,775 shares and retaining 821,314 shares worth approximately $26.6 million.
• Analyst sentiment is mixed to negative: the stock has a consensus “Reduce” rating and a consensus price target of $36.38, with recent target cuts from Piper Sandler and Benchmark.
• PZZA opened at $29.90, near its 52-week low, after the company missed quarterly earnings and revenue estimates. It pays a $1.84 annualized dividend, yielding about 6.2%, though its payout ratio is elevated at 221.69%.

Segall Bryant & Hamill LLC lowered its holdings in Papa John's International, Inc. (NASDAQ:PZZA - Free Report) by 22.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 821,314 shares of the company's stock after selling 238,775 shares during the period. Segall Bryant & Hamill LLC owned approximately 2.50% of Papa John's International worth $26,619,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lazard Asset Management LLC bought a new position in Papa John's International in the 2nd quarter worth approximately $59,000. Leonteq Securities AG purchased a new position in Papa John's International in the 4th quarter valued at approximately $71,000. Kestra Advisory Services LLC bought a new stake in Papa John's International during the 4th quarter valued at $73,000. Skylands Capital LLC bought a new stake in Papa John's International during the 1st quarter valued at $65,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Papa John's International by 42.9% during the first quarter. PNC Financial Services Group Inc. now owns 2,230 shares of the company's stock worth $72,000 after acquiring an additional 670 shares in the last quarter.

Analysts Set New Price Targets

PZZA has been the subject of a number of analyst reports. Wall Street Zen raised Papa John's International from a "sell" rating to a "hold" rating in a report on Sunday, July 26th. Zacks Research lowered Papa John's International from a "hold" rating to a "strong sell" rating in a research note on Monday, July 13th. Stephens reissued an "overweight" rating on shares of Papa John's International in a report on Tuesday, July 21st. Piper Sandler dropped their price objective on Papa John's International from $32.00 to $30.00 and set a "neutral" rating on the stock in a report on Friday, May 8th. Finally, Benchmark cut their target price on Papa John's International from $50.00 to $45.00 and set a "buy" rating for the company in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $36.38.

Papa John's International Price Performance

NASDAQ PZZA opened at $29.90 on Friday. Papa John's International, Inc. has a 1 year low of $29.55 and a 1 year high of $55.74. The stock has a market capitalization of $983.71 million, a PE ratio of 36.02, a P/E/G ratio of 1.97 and a beta of 1.12. The company's 50 day simple moving average is $33.41 and its two-hundred day simple moving average is $34.14.

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

Papa John's International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.84 annualized dividend and a yield of 6.2%. Papa John's International's dividend payout ratio (DPR) is currently 221.69%.

About Papa John's International

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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