Papa John’s International (NASDAQ:PZZA) Stock Price Up 8.1% – Here’s What Happened

Papa John’s International, Inc. (NASDAQ:PZZA) shares rose 8.1% on Wednesday . The company traded as high as $35.73 and last traded at $35.3370. Approximately 1,186,013 shares changed hands during trading, a decline of 2% from the average session volume of 1,211,120 shares. The stock had previously closed at $32.69.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Weiss Ratings downgraded shares of Papa John’s International from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 18th. Benchmark dropped their target price on shares of Papa John’s International from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Piper Sandler cut their target price on Papa John’s International from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft reduced their target price on Papa John’s International from $45.00 to $35.00 and set a “hold” rating for the company in a report on Friday, February 27th. Finally, Stephens reaffirmed an “overweight” rating and set a $40.00 price target on shares of Papa John’s International in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Papa John’s International presently has a consensus rating of “Hold” and a consensus target price of $38.50.

Papa John’s International Stock Up 0.1%

The company has a market cap of $1.20 billion, a P/E ratio of 43.94, a price-to-earnings-growth ratio of 2.03 and a beta of 1.15. The company’s 50-day moving average is $34.29 and its two-hundred day moving average is $35.55.

Papa John’s International (NASDAQ:PZZA) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.08). The company had revenue of $478.61 million during the quarter, compared to the consensus estimate of $485.51 million. Papa John’s International had a negative return on equity of 10.71% and a net margin of 1.37%.The business’s revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS. On average, analysts anticipate that Papa John’s International, Inc. will post 1.51 EPS for the current fiscal year.

Papa John’s International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were paid a dividend of $0.46 per share. The ex-dividend date was Monday, May 18th. This represents a $1.84 annualized dividend and a dividend yield of 5.0%. Papa John’s International’s dividend payout ratio (DPR) is presently 221.69%.

Hedge Funds Weigh In On Papa John’s International

Several institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its position in Papa John’s International by 32.8% in the first quarter. Royal Bank of Canada now owns 19,028 shares of the company’s stock worth $781,000 after buying an additional 4,705 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Papa John’s International in the first quarter valued at $600,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Papa John’s International by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,785 shares of the company’s stock valued at $813,000 after buying an additional 879 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Papa John’s International by 25.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 310,653 shares of the company’s stock valued at $12,762,000 after buying an additional 62,103 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Papa John’s International by 81.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,592 shares of the company’s stock worth $4,625,000 after acquiring an additional 50,536 shares during the period.

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.