Irenic Capital Management LP Decreases Stock Position in Papa John’s International, Inc. $PZZA

Irenic Capital Management LP cut its stake in Papa John’s International, Inc. (NASDAQ:PZZA) by 69.7% in the fourth quarter, HoldingsChannel reports. The firm owned 325,108 shares of the company’s stock after selling 748,592 shares during the quarter. Papa John’s International makes up about 0.8% of Irenic Capital Management LP’s investment portfolio, making the stock its 18th biggest position. Irenic Capital Management LP’s holdings in Papa John’s International were worth $12,513,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PZZA. Lazard Asset Management LLC purchased a new position in Papa John’s International in the second quarter worth approximately $59,000. Leonteq Securities AG purchased a new position in Papa John’s International in the fourth quarter worth approximately $71,000. Kestra Advisory Services LLC purchased a new position in Papa John’s International in the fourth quarter worth approximately $73,000. Bayforest Capital Ltd purchased a new position in Papa John’s International in the fourth quarter worth approximately $92,000. Finally, iSAM Funds UK Ltd purchased a new position in Papa John’s International in the third quarter worth approximately $121,000.

Papa John’s International Trading Up 11.4%

Shares of NASDAQ:PZZA opened at $36.42 on Thursday. The company has a market capitalization of $1.20 billion, a PE ratio of 43.88, a P/E/G ratio of 1.82 and a beta of 1.15. Papa John’s International, Inc. has a twelve month low of $29.55 and a twelve month high of $55.74. The firm has a 50 day simple moving average of $34.26 and a 200-day simple moving average of $35.59.

Papa John’s International (NASDAQ:PZZA) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.08). The company had revenue of $478.61 million for the quarter, compared to analysts’ expectations 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 firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 EPS. As a group, equities research analysts predict that Papa John’s International, Inc. will post 1.51 EPS for the current fiscal year.

Papa John’s International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend was Monday, May 18th. Papa John’s International’s payout ratio is presently 221.69%.

Analyst Ratings Changes

PZZA has been the subject of a number of recent research reports. Benchmark decreased their price target on shares of Papa John’s International from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Mizuho decreased their price target on Papa John’s International from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, May 11th. Weiss Ratings downgraded Papa John’s International from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 18th. Piper Sandler decreased their price target on Papa John’s International from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target 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. Two equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to 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 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.