MKM Partners downgraded shares of Papa John’s Int’l (NASDAQ:PZZA) from a buy rating to a neutral rating in a research report sent to investors on Thursday, The Fly reports. MKM Partners currently has $50.00 price target on the stock, down from their prior price target of $55.00.
A number of other equities analysts have also weighed in on the stock. CL King began coverage on shares of Papa John’s Int’l in a research report on Wednesday, October 23rd. They set a buy rating and a $65.00 price target on the stock. Jefferies Financial Group lowered shares of Papa John’s Int’l from a buy rating to a hold rating and set a $58.00 price target on the stock. in a research report on Monday, November 4th. They noted that the move was a valuation call. ValuEngine upgraded shares of Papa John’s Int’l from a hold rating to a buy rating in a research report on Thursday, October 31st. Credit Suisse Group boosted their target price on shares of Papa John’s Int’l to $66.00 and gave the company an outperform rating in a report on Thursday. Finally, BTIG Research boosted their target price on shares of Papa John’s Int’l to $62.00 and gave the company a buy rating in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $61.56.
PZZA traded down $0.82 during trading on Thursday, hitting $61.76. The stock had a trading volume of 1,218,300 shares, compared to its average volume of 994,724. The stock has a 50 day simple moving average of $54.93 and a two-hundred day simple moving average of $49.50. Papa John’s Int’l has a twelve month low of $38.29 and a twelve month high of $63.29. The company has a market capitalization of $1.82 billion, a PE ratio of 46.09, a PEG ratio of 5.70 and a beta of 0.41.
Papa John’s Int’l (NASDAQ:PZZA) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Papa John’s Int’l had a negative net margin of 1.32% and a negative return on equity of 11.61%. The firm had revenue of $403.71 million during the quarter, compared to analysts’ expectations of $384.54 million. During the same period in the previous year, the firm posted $0.19 EPS. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. On average, sell-side analysts anticipate that Papa John’s Int’l will post 1.15 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Monday, November 11th will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Thursday, November 7th. Papa John’s Int’l’s dividend payout ratio (DPR) is 67.16%.
In other news, major shareholder John H. Schnatter sold 1,900,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $56.60, for a total value of $107,540,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder John H. Schnatter sold 475,861 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $43.22, for a total transaction of $20,566,712.42. Following the completion of the sale, the insider now directly owns 4,785,682 shares in the company, valued at $206,837,176.04. The disclosure for this sale can be found here. Insiders sold a total of 2,575,861 shares of company stock worth $138,144,712 over the last three months. Insiders own 43.00% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in PZZA. Private Capital Group LLC purchased a new stake in Papa John’s Int’l during the 2nd quarter worth approximately $34,000. Massey Quick Simon & CO. LLC purchased a new stake in Papa John’s Int’l during the 3rd quarter worth approximately $64,000. Oppenheimer Asset Management Inc. purchased a new stake in Papa John’s Int’l during the 3rd quarter worth approximately $67,000. Advisor Group Inc. increased its stake in Papa John’s Int’l by 45.0% during the 2nd quarter. Advisor Group Inc. now owns 1,530 shares of the company’s stock worth $68,000 after buying an additional 475 shares during the period. Finally, FNY Investment Advisers LLC purchased a new stake in Papa John’s Int’l during the 3rd quarter worth approximately $71,000. 92.75% of the stock is currently owned by hedge funds and other institutional investors.
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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