Papa John’s International, Inc. (NASDAQ:PZZA) Short Interest Up 17.8% in March

Papa John’s International, Inc. (NASDAQ:PZZA) was the target of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 4,687,150 shares, a growth of 17.8% from the February 26th total of 3,978,192 shares. Based on an average daily volume of 2,248,120 shares, the days-to-cover ratio is presently 2.1 days. Approximately 14.5% of the shares of the stock are sold short.

Papa John’s International Price Performance

Shares of Papa John’s International stock opened at $32.41 on Wednesday. The company’s 50 day moving average price is $33.84 and its two-hundred day moving average price is $40.13. The firm has a market capitalization of $1.07 billion, a P/E ratio of 36.42, a P/E/G ratio of 1.54 and a beta of 1.23. Papa John’s International has a fifty-two week low of $29.55 and a fifty-two week high of $55.74.

Papa John’s International (NASDAQ:PZZA) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01. Papa John’s International had a net margin of 1.44% and a negative return on equity of 11.16%. The company had revenue of $498.18 million during the quarter, compared to the consensus estimate of $517.25 million. During the same period in the prior year, the business earned $0.63 earnings per share. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, analysts expect that Papa John’s International will post 2.19 earnings per share for the current year.

Papa John’s International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Monday, February 9th were given a $0.46 dividend. The ex-dividend date was Monday, February 9th. This represents a $1.84 annualized dividend and a yield of 5.7%. Papa John’s International’s dividend payout ratio (DPR) is currently 206.74%.

Analysts Set New Price Targets

Several equities analysts have commented on PZZA shares. Benchmark decreased their target price on shares of Papa John’s International from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Mizuho cut their price target on shares of Papa John’s International from $40.00 to $34.00 and set a “neutral” rating for the company in a report on Friday, February 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Papa John’s International in a research report on Friday. Zacks Research upgraded shares of Papa John’s International from a “strong sell” rating to a “hold” rating in a research report on Monday, January 26th. Finally, Stephens cut their target price on Papa John’s International from $49.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $45.00.

Institutional Trading of Papa John’s International

Hedge funds and other institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC increased its stake in shares of Papa John’s International by 22.2% in the third quarter. Farther Finance Advisors LLC now owns 1,157 shares of the company’s stock valued at $56,000 after buying an additional 210 shares during the period. Lazard Asset Management LLC bought a new stake in Papa John’s International during the 2nd quarter worth approximately $59,000. Leonteq Securities AG acquired a new position in Papa John’s International in the 4th quarter valued at approximately $71,000. Kestra Advisory Services LLC bought a new position in shares of Papa John’s International during the fourth quarter valued at $73,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Papa John’s International by 41.0% during the third quarter. GAMMA Investing LLC now owns 1,702 shares of the company’s stock worth $82,000 after purchasing an additional 495 shares during the period.

About Papa John’s International

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.