SG Americas Securities LLC Cuts Stock Position in Papa John's International, Inc. $PZZA

Key Points

• SG Americas Securities LLC cut its Papa John’s stake by 94.2% in the first quarter, selling more than 157,000 shares and leaving it with 9,682 shares valued at about $314,000.
• Papa John’s reported weaker-than-expected quarterly results, posting EPS of $0.32 versus the $0.40 estimate and revenue of $478.61 million, down 7.7% year over year.
• Analyst sentiment remains cautious, with a consensus rating of “Hold” and an average price target of $38.50, while recent updates included both upgrades and cuts to price targets and ratings.

SG Americas Securities LLC lessened its holdings in shares of Papa John's International, Inc. (NASDAQ:PZZA - Free Report) by 94.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,682 shares of the company's stock after selling 157,022 shares during the quarter. SG Americas Securities LLC's holdings in Papa John's International were worth $314,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Invesco Ltd. grew its holdings in shares of Papa John's International by 14.1% in the fourth quarter. Invesco Ltd. now owns 139,662 shares of the company's stock valued at $5,376,000 after purchasing an additional 17,215 shares in the last quarter. Corient Private Wealth LLC boosted its position in Papa John's International by 189.9% in the 4th quarter. Corient Private Wealth LLC now owns 18,291 shares of the company's stock valued at $704,000 after buying an additional 11,982 shares during the period. XTX Topco Ltd boosted its position in Papa John's International by 38.2% in the 4th quarter. XTX Topco Ltd now owns 12,846 shares of the company's stock valued at $494,000 after buying an additional 3,550 shares during the period. Private Capital Management LLC grew its stake in shares of Papa John's International by 17.3% in the fourth quarter. Private Capital Management LLC now owns 41,775 shares of the company's stock worth $1,608,000 after acquiring an additional 6,175 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in shares of Papa John's International in the fourth quarter worth $758,000.

Papa John's International Trading Down 0.4%

Papa John's International stock opened at $33.49 on Friday. The stock has a market cap of $1.10 billion, a P/E ratio of 40.35, a price-to-earnings-growth ratio of 1.87 and a beta of 1.12. The company has a fifty day simple moving average of $33.92 and a 200-day simple moving average of $34.90. Papa John's International, Inc. has a 12-month low of $29.55 and a 12-month high of $55.74.

Papa John's International (NASDAQ:PZZA - Get Free Report) last posted its 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). Papa John's International had a net margin of 1.37% and a negative return on equity of 10.71%. The business had revenue of $478.61 million during the quarter, compared to analysts' expectations of $485.51 million. During the same period last year, the company earned $0.36 EPS. The business's quarterly revenue was down 7.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Papa John's International, Inc. will post 1.51 earnings per share for the current fiscal year.

Papa John's International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were issued a $0.46 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 5.5%. Papa John's International's dividend payout ratio is presently 221.69%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PZZA. Wall Street Zen upgraded Papa John's International from a "sell" rating to a "hold" rating in a research note on Saturday, June 6th. Weiss Ratings cut Papa John's International from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, May 18th. Piper Sandler cut their price target 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. Stephens reaffirmed an "overweight" rating and issued a $40.00 price target on shares of Papa John's International in a research report on Wednesday, July 1st. Finally, Benchmark decreased their price objective 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 analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $38.50.

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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