Papa Johns International, Inc. (NASDAQ:PZZA) Shares Sold by Financial Advocates Investment Management

Financial Advocates Investment Management reduced its holdings in Papa Johns International, Inc. (NASDAQ:PZZA) by 5.1% during the 3rd quarter, Holdings Channel reports. The firm owned 6,876 shares of the company’s stock after selling 369 shares during the quarter. Financial Advocates Investment Management’s holdings in Papa Johns International were worth $370,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Signaturefd LLC grew its stake in Papa Johns International by 66.9% in the 3rd quarter. Signaturefd LLC now owns 646 shares of the company’s stock valued at $35,000 after acquiring an additional 259 shares during the period. Copeland Capital Management LLC purchased a new position in Papa Johns International during the third quarter valued at $42,000. CWM LLC grew its position in shares of Papa Johns International by 65.6% in the second quarter. CWM LLC now owns 1,325 shares of the company’s stock valued at $62,000 after purchasing an additional 525 shares during the period. nVerses Capital LLC purchased a new stake in shares of Papa Johns International during the third quarter worth about $156,000. Finally, Blue Trust Inc. raised its position in shares of Papa Johns International by 16.8% during the 2nd quarter. Blue Trust Inc. now owns 3,609 shares of the company’s stock worth $170,000 after purchasing an additional 520 shares during the last quarter.

Wall Street Analyst Weigh In

PZZA has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft lowered their price objective on Papa Johns International from $58.00 to $45.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Piper Sandler reduced their price objective on Papa Johns International from $61.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, August 9th. UBS Group decreased their price objective on Papa Johns International from $58.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Wedbush reaffirmed an “outperform” rating and set a $51.00 target price on shares of Papa Johns International in a report on Friday, August 23rd. Finally, KeyCorp decreased their price target on shares of Papa Johns International from $64.00 to $50.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

Papa Johns International Price Performance

Papa Johns International stock opened at $55.26 on Monday. The firm has a 50 day simple moving average of $50.66 and a 200-day simple moving average of $49.38. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 26.57, a price-to-earnings-growth ratio of 3.32 and a beta of 1.19. Papa Johns International, Inc. has a 1-year low of $39.90 and a 1-year high of $78.67.

Papa Johns International (NASDAQ:PZZA) last posted its earnings results on Thursday, August 8th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.08. Papa Johns International had a negative return on equity of 19.85% and a net margin of 3.25%. The company had revenue of $507.89 million during the quarter, compared to analysts’ expectations of $520.13 million. During the same quarter last year, the firm earned $0.59 earnings per share. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. Equities analysts expect that Papa Johns International, Inc. will post 2.27 earnings per share for the current fiscal year.

Papa Johns International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Monday, November 18th will be given a $0.46 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.84 dividend on an annualized basis and a yield of 3.33%. Papa Johns International’s payout ratio is currently 88.46%.

About Papa Johns International

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. The company operates through four segments: Domestic Company-Owned Restaurants, North America Commissaries, North America Franchising, and International Operations.