Papa John’s Int’l, Inc. (NASDAQ:PZZA) was the target of a significant decrease in short interest in June. As of June 30th, there was short interest totalling 5,642,600 shares, a decrease of 20.2% from the May 30th total of 7,072,800 shares. Currently, 26.0% of the shares of the stock are short sold. Based on an average daily volume of 778,000 shares, the short-interest ratio is presently 7.3 days.
In related news, major shareholder John H. Schnatter sold 114,061 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $52.69, for a total value of $6,009,874.09. Following the completion of the transaction, the insider now directly owns 9,239,507 shares in the company, valued at $486,829,623.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder John H. Schnatter sold 200,083 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $50.71, for a total value of $10,146,208.93. Following the completion of the transaction, the insider now owns 9,196,724 shares of the company’s stock, valued at $466,365,874.04. The disclosure for this sale can be found here. Insiders sold 3,765,557 shares of company stock valued at $173,644,058 over the last 90 days. Company insiders own 43.00% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in PZZA. Jackson Square Partners LLC acquired a new position in Papa John’s Int’l during the first quarter worth $121,272,000. FIL Ltd raised its stake in shares of Papa John’s Int’l by 267.1% in the first quarter. FIL Ltd now owns 1,270,298 shares of the company’s stock valued at $67,262,000 after acquiring an additional 924,298 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new stake in shares of Papa John’s Int’l in the fourth quarter valued at $25,698,000. BNP Paribas Arbitrage SA raised its stake in shares of Papa John’s Int’l by 106,517.1% in the first quarter. BNP Paribas Arbitrage SA now owns 429,667 shares of the company’s stock valued at $22,751,000 after acquiring an additional 429,264 shares in the last quarter. Finally, Apertura Capital LLC acquired a new stake in shares of Papa John’s Int’l in the first quarter valued at $16,091,000. Institutional investors own 94.19% of the company’s stock.
NASDAQ:PZZA traded up $0.25 during trading hours on Friday, reaching $45.92. 864,000 shares of the stock were exchanged, compared to its average volume of 972,083. The stock has a 50-day simple moving average of $47.17. Papa John’s Int’l has a twelve month low of $38.05 and a twelve month high of $60.56. The stock has a market cap of $1.47 billion, a P/E ratio of 34.27, a price-to-earnings-growth ratio of 3.27 and a beta of 0.44.
Papa John’s Int’l (NASDAQ:PZZA) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.10. Papa John’s Int’l had a negative return on equity of 13.51% and a negative net margin of 1.09%. The company had revenue of $398.41 million for the quarter, compared to analysts’ expectations of $384.67 million. During the same period in the prior year, the firm earned $0.52 earnings per share. The firm’s revenue was down 11.5% compared to the same quarter last year. Equities analysts expect that Papa John’s Int’l will post 1.13 earnings per share for the current year.
Several brokerages recently weighed in on PZZA. Stifel Nicolaus began coverage on Haymaker Acquisition in a research report on Wednesday, March 27th. They issued a “buy” rating and a $16.00 price objective for the company. ValuEngine upgraded Zuora from a “hold” rating to a “buy” rating in a research report on Saturday, July 6th. BidaskClub upgraded YY from a “strong sell” rating to a “sell” rating in a research report on Thursday, May 30th. Citigroup increased their price objective on Cyberark Software from $111.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 15th. Finally, Stephens set a $198.00 price objective on HubSpot and gave the stock a “buy” rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $54.83.
About Papa John’s Int’l
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. It operates through four segments: Domestic Company-Owned Restaurants, North America Commissaries, North America Franchising, and International Operations.
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