Teachers Advisors LLC raised its stake in shares of Papa John’s International, Inc. (NASDAQ:PZZA) by 11.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,441 shares of the company’s stock after buying an additional 9,289 shares during the period. Teachers Advisors LLC owned about 0.24% of Papa John’s International worth $7,079,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of PZZA. Old Mutual Global Investors UK Ltd. purchased a new position in Papa John’s International during the first quarter valued at $2,281,000. Sapphire Star Partners LP raised its position in Papa John’s International by 8.7% in the first quarter. Sapphire Star Partners LP now owns 3,290 shares of the company’s stock valued at $263,000 after buying an additional 263 shares in the last quarter. Sawgrass Asset Management LLC purchased a new position in Papa John’s International during the first quarter valued at $317,000. Glen Harbor Capital Management LLC raised its position in Papa John’s International by 20.4% in the first quarter. Glen Harbor Capital Management LLC now owns 1,820 shares of the company’s stock valued at $146,000 after buying an additional 308 shares in the last quarter. Finally, Profund Advisors LLC raised its position in Papa John’s International by 0.6% in the first quarter. Profund Advisors LLC now owns 4,278 shares of the company’s stock valued at $342,000 after buying an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.
Papa John’s International (NASDAQ:PZZA) last announced its earnings results on Tuesday, May 2nd. The company reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.03. The company had revenue of $449.27 million during the quarter, compared to the consensus estimate of $435.47 million. Papa John’s International had a net margin of 6.09% and a return on equity of 11,469.18%. During the same quarter in the prior year, the company posted $0.69 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, August 7th will be issued a $0.225 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $0.90 annualized dividend and a dividend yield of 1.26%. This is an increase from Papa John’s International’s previous quarterly dividend of $0.20. Papa John’s International’s dividend payout ratio is currently 28.27%.
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Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Papa John’s International from a “sell” rating to a “hold” rating in a research note on Thursday. Jefferies Group LLC restated a “hold” rating and set a $83.00 price objective on shares of Papa John’s International in a research note on Friday, July 14th. Longbow Research restated a “buy” rating and set a $95.00 price objective on shares of Papa John’s International in a research note on Monday, April 10th. Instinet boosted their price objective on shares of Papa John’s International from $76.00 to $84.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 3rd. Finally, KeyCorp restated an “equal weight” rating on shares of Papa John’s International in a research note on Tuesday, June 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Papa John’s International currently has an average rating of “Hold” and a consensus price target of $89.33.
In other news, CFO Lance F. Tucker sold 4,051 shares of the stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $82.39, for a total value of $333,761.89. Following the completion of the sale, the chief financial officer now owns 25,522 shares in the company, valued at $2,102,757.58. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Steve M. Ritchie sold 10,396 shares of the stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $80.00, for a total transaction of $831,680.00. Following the completion of the sale, the insider now owns 37,601 shares of the company’s stock, valued at approximately $3,008,080. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,447 shares of company stock valued at $1,656,182. 27.70% of the stock is currently owned by corporate insiders.
About Papa John’s International
Papa John’s International, Inc (Papa John’s) operates and franchises pizza delivery and carryout restaurants and, in certain international markets, dine-in and delivery restaurants under the trademark Papa John’s. The Company operates through five segments: domestic Company-owned restaurants, North America commissaries, North America franchising, international operations and all other business units.
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