Oregon Public Employees Retirement Fund increased its stake in shares of Papa John’s International, Inc. (NASDAQ:PZZA) by 4.8% during the second quarter, Holdings Channel reports. The fund owned 9,772 shares of the company’s stock after buying an additional 452 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Papa John’s International were worth $701,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PZZA. Sapphire Star Partners LP raised its stake in shares of 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 worth $263,000 after buying an additional 263 shares during the last quarter. Sawgrass Asset Management LLC acquired a new stake in shares of Papa John’s International during the first quarter worth $317,000. Glen Harbor Capital Management LLC raised its stake in shares of 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 worth $146,000 after buying an additional 308 shares during the last quarter. Profund Advisors LLC raised its stake in shares of Papa John’s International by 0.6% in the first quarter. Profund Advisors LLC now owns 4,278 shares of the company’s stock worth $342,000 after buying an additional 25 shares during the last quarter. Finally, Waldron LP acquired a new stake in shares of Papa John’s International during the first quarter worth $289,000. Institutional investors and hedge funds own 79.33% of the company’s stock.

Shares of Papa John’s International, Inc. (NASDAQ:PZZA) traded up 1.99% during midday trading on Monday, hitting $78.49. 187,506 shares of the stock were exchanged. Papa John’s International, Inc. has a 52-week low of $70.73 and a 52-week high of $90.49. The firm’s 50-day moving average is $74.73 and its 200 day moving average is $78.90. The firm has a market cap of $2.86 billion, a PE ratio of 27.34 and a beta of 0.51.

Papa John’s International (NASDAQ:PZZA) last posted its earnings results on Tuesday, August 1st. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. The firm had revenue of $434.78 million during the quarter, compared to the consensus estimate of $438.51 million. Papa John’s International had a return on equity of 919.82% and a net margin of 6.13%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.61 EPS. On average, analysts forecast that Papa John’s International, Inc. will post $2.86 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, August 7th will be given a $0.225 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This is an increase from Papa John’s International’s previous quarterly dividend of $0.20. This represents a $0.90 dividend on an annualized basis and a yield of 1.17%. Papa John’s International’s dividend payout ratio (DPR) is currently 31.36%.

Papa John’s International announced that its Board of Directors has initiated a share repurchase program on Tuesday, August 1st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 198% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

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PZZA has been the subject of a number of recent research reports. Longbow Research restated a “buy” rating and issued a $95.00 price objective on shares of Papa John’s International in a report on Monday, May 22nd. KeyCorp restated an “equal weight” rating on shares of Papa John’s International in a report on Tuesday, June 20th. Zacks Investment Research lowered shares of Papa John’s International from a “buy” rating to a “hold” rating in a report on Tuesday, April 25th. Jefferies Group LLC set a $83.00 price objective on shares of Papa John’s International and gave the stock a “hold” rating in a report on Wednesday, April 19th. Finally, Instinet restated a “neutral” rating and issued a $78.00 price objective (down from $84.00) on shares of Papa John’s International in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $89.17.

In related news, SVP Timothy C. Ohern sold 6,000 shares of the firm’s stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $81.79, for a total value of $490,740.00. Following the completion of the sale, the senior vice president now directly owns 36,020 shares in the company, valued at $2,946,075.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Lance F. Tucker sold 4,051 shares of the firm’s stock in a transaction on Friday, May 12th. The stock was 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 of the company’s stock, valued at $2,102,757.58. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,447 shares of company stock valued at $1,656,182. 27.70% of the stock is owned by corporate insiders.

Papa John’s International Company Profile

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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Institutional Ownership by Quarter for Papa John`s International (NASDAQ:PZZA)

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