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

Papa John’s International, Inc. (NASDAQ:PZZA) saw a significant growth in short interest during 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 trading volume of 2,248,120 shares, the days-to-cover ratio is currently 2.1 days. Approximately 14.5% of the company’s shares are sold short.

Institutional Trading of Papa John’s International

Institutional investors and hedge funds have recently modified their holdings of the stock. Irenic Capital Management LP bought a new position in Papa John’s International in the third quarter worth approximately $51,699,000. Brandes Investment Partners LP raised its position in Papa John’s International by 271.6% during the 2nd quarter. Brandes Investment Partners LP now owns 690,299 shares of the company’s stock valued at $33,783,000 after purchasing an additional 504,514 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Papa John’s International in the 4th quarter worth $12,969,000. Quinn Opportunity Partners LLC bought a new position in shares of Papa John’s International during the 4th quarter worth $12,767,000. Finally, Earnest Partners LLC increased its stake in shares of Papa John’s International by 19.6% during the fourth quarter. Earnest Partners LLC now owns 1,947,248 shares of the company’s stock valued at $74,950,000 after buying an additional 318,816 shares during the period.

Papa John’s International Price Performance

Shares of NASDAQ:PZZA traded up $0.02 on Tuesday, hitting $32.41. 759,751 shares of the company’s stock were exchanged, compared to its average volume of 1,351,880. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 36.42, a price-to-earnings-growth ratio of 1.51 and a beta of 1.23. Papa John’s International has a 12 month low of $29.55 and a 12 month high of $55.74. The business’s 50 day simple moving average is $33.95 and its two-hundred day simple moving average is $40.25.

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

Papa John’s International Announces Dividend

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

Analyst Ratings Changes

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

Papa John’s International Company Profile

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.