Papa John’s International, Inc. $PZZA Stake Lifted by Royal Bank of Canada

Royal Bank of Canada boosted its stake in Papa John’s International, Inc. (NASDAQ:PZZA) by 76.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,624 shares of the company’s stock after buying an additional 26,335 shares during the period. Royal Bank of Canada’s holdings in Papa John’s International were worth $1,964,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC bought a new stake in shares of Papa John’s International during the first quarter valued at approximately $600,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Papa John’s International by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,785 shares of the company’s stock worth $813,000 after buying an additional 879 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Papa John’s International by 25.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 310,653 shares of the company’s stock valued at $12,762,000 after acquiring an additional 62,103 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Papa John’s International by 81.4% in 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 valued at $4,625,000 after acquiring an additional 50,536 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Papa John’s International by 234.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 111,036 shares of the company’s stock valued at $5,434,000 after acquiring an additional 77,871 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PZZA shares. Zacks Research lowered Papa John’s International from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Wall Street Zen upgraded shares of Papa John’s International from a “sell” rating to a “hold” rating in a research note on Sunday, July 26th. Bank of America reaffirmed an “underperform” rating and issued a $34.00 price objective (down from $42.00) on shares of Papa John’s International in a report on Monday, July 13th. Benchmark lowered shares of Papa John’s International from a “buy” rating to a “hold” rating in a research report on Friday, August 7th. Finally, Piper Sandler lowered their target price on shares of Papa John’s International from $30.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, August 7th. Six investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Papa John’s International currently has an average rating of “Reduce” and a consensus target price of $32.00.

Papa John’s International Stock Up 0.5%

Shares of PZZA stock opened at $23.35 on Wednesday. The stock has a 50-day simple moving average of $31.70 and a 200 day simple moving average of $33.15. Papa John’s International, Inc. has a fifty-two week low of $22.88 and a fifty-two week high of $55.74. The stock has a market capitalization of $768.68 million, a P/E ratio of 29.56, a P/E/G ratio of 2.47 and a beta of 1.13.

Papa John’s International (NASDAQ:PZZA) last released its earnings results on Thursday, August 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. Papa John’s International had a negative return on equity of 10.98% and a net margin of 1.34%.The firm had revenue of $482.40 million for the quarter, compared to analyst estimates of $481.25 million. During the same period in the previous year, the company earned $0.41 earnings per share. Papa John’s International’s revenue was down 8.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Papa John’s International, Inc. will post 1.25 earnings per share for the current year.

Papa John’s International Company Profile

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.