Papa John’s International Sees Unusually High Options Volume (NASDAQ:PZZA)

Papa John’s International, Inc. (NASDAQ:PZZA) was the target of some unusual options trading activity on Monday. Investors bought 8,887 put options on the company. This is an increase of 137% compared to the typical volume of 3,749 put options.

Institutional Trading of Papa John’s International

Several hedge funds have recently modified their holdings of the business. Irenic Capital Management LP acquired a new position in shares of Papa John’s International in the third quarter worth $51,699,000. Great Hill Capital LLC purchased a new stake in shares of Papa John’s International in the fourth quarter valued at $5,843,000. Willis Investment Counsel acquired a new stake in shares of Papa John’s International during the fourth quarter valued at $1,336,000. Cantor Fitzgerald L. P. acquired a new stake in shares of Papa John’s International during the third quarter valued at $12,374,000. Finally, Kingsview Wealth Management LLC purchased a new stake in Papa John’s International during the 3rd quarter worth about $3,105,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wall Street Zen raised Papa John’s International from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Deutsche Bank Aktiengesellschaft reduced their price objective on Papa John’s International from $45.00 to $35.00 and set a “hold” rating for the company in a research note on Friday, February 27th. Weiss Ratings cut Papa John’s International from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 18th. Stephens reiterated an “overweight” rating and issued a $40.00 target price on shares of Papa John’s International in a research note on Thursday, May 14th. Finally, UBS Group cut their price target on Papa John’s International from $42.00 to $33.00 and set a “neutral” rating for the company in a research note on Monday, March 2nd. Two analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Papa John’s International currently has an average rating of “Hold” and an average price target of $38.50.

Papa John’s International Trading Down 5.6%

Shares of NASDAQ:PZZA traded down $2.06 during midday trading on Monday, hitting $34.41. The stock had a trading volume of 381,217 shares, compared to its average volume of 1,216,029. The company has a market capitalization of $1.13 billion, a PE ratio of 41.40, a P/E/G ratio of 2.03 and a beta of 1.15. The stock has a 50 day moving average price of $34.31 and a two-hundred day moving average price of $35.51. Papa John’s International has a 1 year low of $29.55 and a 1 year high of $55.74.

Papa John’s International (NASDAQ:PZZA) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.08). The firm had revenue of $478.61 million for the quarter, compared to analysts’ expectations of $485.51 million. Papa John’s International had a negative return on equity of 10.71% and a net margin of 1.37%.The company’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 earnings per share. As a group, equities analysts expect that Papa John’s International will post 1.51 EPS for the current year.

Papa John’s International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were given a dividend of $0.46 per share. The ex-dividend date was Monday, May 18th. This represents a $1.84 annualized dividend and a yield of 5.3%. Papa John’s International’s payout ratio is presently 221.69%.

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.