Maverick Capital Ltd. cut its holdings in shares of Papa John’s Int’l, Inc. (NASDAQ:PZZA) by 88.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 24,329 shares of the company’s stock after selling 193,961 shares during the period. Maverick Capital Ltd.’s holdings in Papa John’s Int’l were worth $1,274,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Private Capital Group LLC acquired a new stake in shares of Papa John’s Int’l in the 2nd quarter valued at $34,000. Covington Capital Management raised its holdings in shares of Papa John’s Int’l by 560.6% in the 3rd quarter. Covington Capital Management now owns 1,156 shares of the company’s stock valued at $61,000 after purchasing an additional 981 shares in the last quarter. Massey Quick Simon & CO. LLC acquired a new stake in shares of Papa John’s Int’l in the 3rd quarter valued at $64,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Papa John’s Int’l in the 3rd quarter valued at $67,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Papa John’s Int’l in the 3rd quarter valued at $71,000. Institutional investors own 92.13% of the company’s stock.
In other Papa John’s Int’l news, COO Jack H. Swaysland sold 1,623 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $62.98, for a total transaction of $102,216.54. Following the transaction, the chief operating officer now directly owns 17,468 shares of the company’s stock, valued at approximately $1,100,134.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Caroline Miller Oyler sold 4,775 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $62.00, for a total transaction of $296,050.00. Following the transaction, the insider now directly owns 34,198 shares in the company, valued at $2,120,276. The disclosure for this sale can be found here. Insiders sold a total of 2,006,398 shares of company stock worth $113,696,267 over the last ninety days. Insiders own 43.00% of the company’s stock.
Papa John’s Int’l (NASDAQ:PZZA) last posted its earnings results on Wednesday, November 6th. The company reported $0.21 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.01). The company had revenue of $403.71 million during the quarter, compared to analysts’ expectations of $384.54 million. Papa John’s Int’l had a negative net margin of 0.43% and a negative return on equity of 12.34%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the business earned $0.19 earnings per share. As a group, equities analysts expect that Papa John’s Int’l, Inc. will post 1.15 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 11th were given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Thursday, November 7th. Papa John’s Int’l’s dividend payout ratio (DPR) is 67.16%.
A number of brokerages have recently weighed in on PZZA. BTIG Research raised their price objective on shares of Papa John’s Int’l to $67.00 and gave the company a “positive” rating in a report on Thursday, November 7th. Northcoast Research restated a “buy” rating on shares of Papa John’s Int’l in a report on Thursday, October 24th. Citigroup reduced their price objective on shares of Papa John’s Int’l from $60.00 to $58.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Jefferies Financial Group lowered shares of Papa John’s Int’l from a “buy” rating to a “hold” rating and set a $58.00 price objective on the stock. in a report on Monday, November 4th. They noted that the move was a valuation call. Finally, BidaskClub raised shares of Papa John’s Int’l from a “hold” rating to a “buy” rating in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $61.56.
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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