Papa John’s Int’l Target of Unusually Large Options Trading (NASDAQ:PZZA)

Papa John’s Int’l, Inc. (NASDAQ:PZZA) was the recipient of unusually large options trading on Thursday. Traders bought 18,794 put options on the stock. This is an increase of approximately 1,705% compared to the typical daily volume of 1,041 put options.

In other news, major shareholder John H. Schnatter sold 475,861 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $43.22, for a total value of $20,566,712.42. Following the transaction, the insider now owns 4,785,682 shares of the company’s stock, valued at $206,837,176.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder John H. Schnatter sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $42.80, for a total value of $4,280,000.00. Following the completion of the transaction, the insider now directly owns 5,409,583 shares in the company, valued at approximately $231,530,152.40. The disclosure for this sale can be found here. 43.00% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. grew its holdings in Papa John’s Int’l by 9.0% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,048 shares of the company’s stock valued at $137,000 after buying an additional 251 shares in the last quarter. Private Capital Group LLC purchased a new position in Papa John’s Int’l during the 2nd quarter valued at approximately $34,000. Nuveen Asset Management LLC grew its holdings in Papa John’s Int’l by 311.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 209,160 shares of the company’s stock valued at $9,354,000 after buying an additional 158,278 shares in the last quarter. CSat Investment Advisory L.P. grew its holdings in Papa John’s Int’l by 12.7% during the 2nd quarter. CSat Investment Advisory L.P. now owns 8,405 shares of the company’s stock valued at $376,000 after buying an additional 947 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in Papa John’s Int’l by 1,209.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 21,482 shares of the company’s stock valued at $961,000 after buying an additional 19,842 shares in the last quarter. Institutional investors and hedge funds own 92.28% of the company’s stock.

PZZA traded up $0.20 on Friday, hitting $52.24. 580,714 shares of the company’s stock traded hands, compared to its average volume of 1,010,054. The company’s 50 day simple moving average is $46.17 and its 200-day simple moving average is $47.57. The firm has a market cap of $1.64 billion, a price-to-earnings ratio of 38.99, a P/E/G ratio of 3.68 and a beta of 0.41. Papa John’s Int’l has a one year low of $38.29 and a one year high of $60.56.

Papa John’s Int’l (NASDAQ:PZZA) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.06. The business had revenue of $399.62 million during the quarter, compared to analysts’ expectations of $394.39 million. Papa John’s Int’l had a negative return on equity of 11.61% and a negative net margin of 1.32%. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.48 EPS. Equities analysts predict that Papa John’s Int’l will post 1.13 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Monday, August 12th were issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.72%. The ex-dividend date was Friday, August 9th. Papa John’s Int’l’s dividend payout ratio is presently 67.16%.

Several brokerages recently issued reports on PZZA. BidaskClub raised Papa John’s Int’l from a “hold” rating to a “buy” rating in a research note on Thursday. Stephens reissued an “overweight” rating and set a $60.00 target price on shares of Papa John’s Int’l in a research note on Tuesday, August 27th. ValuEngine raised Papa John’s Int’l from a “hold” rating to a “buy” rating in a research note on Tuesday, August 27th. Stifel Nicolaus raised Papa John’s Int’l from a “hold” rating to a “buy” rating and lifted their target price for the company from $42.00 to $60.00 in a research note on Wednesday, August 28th. Finally, MKM Partners began coverage on Papa John’s Int’l in a research note on Tuesday, August 13th. They set a “buy” rating and a $55.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $59.25.

About Papa John’s Int’l

Papa John's International, Inc operates and franchises pizza delivery and carryout restaurants under the Papa John's trademark in the United States and internationally. It operates through four segments: Domestic Company-Owned Restaurants, North America Commissaries, North America Franchising, and International Operations.

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