TD Asset Management Inc Sells 11,732 Shares of Papa John's International, Inc. (NASDAQ:PZZA)

Key Points

• TD Asset Management Inc reduced its stake in Papa John's International by 26.0%, selling 11,732 shares during the first quarter, bringing its total ownership to 33,314 shares valued at approximately $1.37 million.
• Wall Street analysts have mixed opinions on Papa John's shares, with target prices ranging from $38.00 to $56.00, while the consensus rating remains a "Hold" with an average price target of $51.25.
• Papa John's reported a quarterly earnings per share (EPS) of $0.36, exceeding expectations, alongside a revenue increase of 0.9% year-over-year to $518.31 million.

TD Asset Management Inc trimmed its position in shares of Papa John's International, Inc. (NASDAQ:PZZA - Free Report) by 26.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,314 shares of the company's stock after selling 11,732 shares during the quarter. TD Asset Management Inc owned 0.10% of Papa John's International worth $1,369,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC acquired a new position in shares of Papa John's International in the 4th quarter valued at $30,000. Signaturefd LLC grew its position in shares of Papa John's International by 214.7% during the first quarter. Signaturefd LLC now owns 1,388 shares of the company's stock worth $57,000 after buying an additional 947 shares in the last quarter. CWM LLC raised its stake in shares of Papa John's International by 27.2% in the 1st quarter. CWM LLC now owns 1,610 shares of the company's stock valued at $66,000 after purchasing an additional 344 shares in the last quarter. GAMMA Investing LLC lifted its stake in Papa John's International by 506.3% during the first quarter. GAMMA Investing LLC now owns 2,122 shares of the company's stock worth $87,000 after purchasing an additional 1,772 shares during the last quarter. Finally, State of Wyoming bought a new stake in shares of Papa John's International in the 4th quarter worth approximately $87,000.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PZZA shares. Loop Capital decreased their target price 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. Stephens reiterated an "overweight" rating and set a $50.00 price target on shares of Papa John's International in a report on Thursday, June 12th. UBS Group upped their price objective on shares of Papa John's International from $38.00 to $42.00 and gave the stock a "neutral" rating in a report on Monday. Benchmark restated 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, Stifel Nicolaus decreased their price target on Papa John's International from $40.00 to $38.00 and set a "hold" rating on the stock in a research note on Tuesday, April 15th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $51.58.

Papa John's International Stock Up 0.9%

Papa John's International stock traded up $0.35 during trading hours on Wednesday, hitting $40.52. The stock had a trading volume of 1,723,421 shares, compared to its average volume of 871,379. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 17.24, a P/E/G ratio of 3.47 and a beta of 1.13. The business's 50 day simple moving average is $46.71 and its 200-day simple moving average is $42.46. Papa John's International, Inc. has a one year low of $30.16 and a one year high of $60.75.

Papa John's International (NASDAQ:PZZA - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. The business had revenue of $518.31 million for the quarter, compared to analysts' expectations 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 firm's revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business posted $0.67 earnings per share. Research 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 company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be issued a $0.46 dividend. The ex-dividend date is Monday, August 18th. This represents a $1.84 annualized dividend and a yield of 4.5%. Papa John's International's dividend payout ratio is presently 78.30%.

Papa John's International 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.