Louisiana State Employees Retirement System increased its position in Papa John’s International, Inc. (NASDAQ:PZZA) by 3.0% during the second quarter, Holdings Channel reports. The fund owned 6,900 shares of the company’s stock after buying an additional 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Papa John’s International were worth $495,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Meadow Creek Investment Management LLC boosted its stake in shares of Papa John’s International by 20.4% in the first quarter. Meadow Creek Investment Management LLC now owns 1,430 shares of the company’s stock worth $114,000 after buying an additional 242 shares during the last quarter. Glen Harbor Capital Management LLC raised its position 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 period. Fifth Third Bancorp raised its position in shares of Papa John’s International by 11.3% in the first quarter. Fifth Third Bancorp now owns 2,112 shares of the company’s stock worth $169,000 after buying an additional 215 shares during the period. Victory Capital Management Inc. raised its position in shares of Papa John’s International by 55.0% in the first quarter. Victory Capital Management Inc. now owns 2,188 shares of the company’s stock worth $175,000 after buying an additional 776 shares during the period. Finally, Elkfork Partners LLC raised its position in shares of Papa John’s International by 20.4% in the first quarter. Elkfork Partners LLC now owns 2,210 shares of the company’s stock worth $177,000 after buying an additional 374 shares during the period. Institutional investors and hedge funds own 79.33% of the company’s stock.

Shares of Papa John’s International, Inc. (PZZA) traded up 1.05% during trading on Friday, reaching $78.69. The company had a trading volume of 283,457 shares. The company has a market cap of $2.87 billion, a P/E ratio of 27.41 and a beta of 0.51. Papa John’s International, Inc. has a 12-month low of $70.73 and a 12-month high of $90.49. The firm has a 50-day moving average of $74.94 and a 200-day moving average of $78.66.

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

Papa John’s International declared that its board has authorized a stock repurchase program on Tuesday, August 1st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 198% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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 paid a $0.225 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.14%. This is a boost from Papa John’s International’s previous quarterly dividend of $0.20. Papa John’s International’s payout ratio is 31.36%.

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A number of equities analysts recently issued reports on PZZA shares. Longbow Research reissued 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 reissued an “equal weight” rating on shares of Papa John’s International in a report on Tuesday, June 20th. Zacks Investment Research raised Papa John’s International from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Jefferies Group LLC reissued a “hold” rating and issued a $83.00 price objective on shares of Papa John’s International in a report on Friday, July 14th. Finally, Instinet increased their price objective on Papa John’s International from $76.00 to $84.00 and gave the stock a “neutral” rating in a report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $89.17.

In other news, SVP Timothy C. Ohern sold 6,000 shares of Papa John’s International stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $81.79, for a total value of $490,740.00. Following the completion of the transaction, the senior vice president now owns 36,020 shares in the company, valued at $2,946,075.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steve M. Ritchie sold 10,396 shares of Papa John’s International stock in a transaction that occurred on 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 transaction, 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. Insiders own 27.70% of the company’s stock.

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

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