Papa John’s International, Inc. (PZZA) Stake Boosted by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lifted its stake in shares of Papa John’s International, Inc. (NASDAQ:PZZA) by 300.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 25,378 shares of the company’s stock after purchasing an additional 19,033 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.07% of Papa John’s International worth $1,821,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PZZA. BlackRock Inc. grew its stake in shares of Papa John’s International by 13,761.9% during the 1st quarter. BlackRock Inc. now owns 3,080,947 shares of the company’s stock worth $246,601,000 after purchasing an additional 3,058,721 shares during the period. Prudential Financial Inc. grew its stake in shares of Papa John’s International by 275.1% during the 2nd quarter. Prudential Financial Inc. now owns 420,107 shares of the company’s stock worth $30,147,000 after purchasing an additional 308,110 shares during the period. Marshall Wace North America L.P. grew its stake in shares of Papa John’s International by 391.8% during the 2nd quarter. Marshall Wace North America L.P. now owns 244,530 shares of the company’s stock worth $17,607,000 after purchasing an additional 194,804 shares during the period. Vanguard Group Inc. grew its stake in shares of Papa John’s International by 7.3% during the 1st quarter. Vanguard Group Inc. now owns 2,378,840 shares of the company’s stock worth $190,402,000 after purchasing an additional 160,913 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in shares of Papa John’s International by 55.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 418,386 shares of the company’s stock worth $30,021,000 after purchasing an additional 149,060 shares during the period. 83.77% of the stock is currently owned by institutional investors and hedge funds.

In other Papa John’s International news, SVP Timothy C. Ohern sold 9,218 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $75.08, for a total value of $692,087.44. Following the sale, the senior vice president now directly owns 35,650 shares in the company, valued at $2,676,602. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 27.70% of the stock is currently owned by insiders.

Shares of Papa John’s International, Inc. (NASDAQ:PZZA) traded up 1.35% during midday trading on Wednesday, reaching $71.40. 47,917 shares of the company were exchanged. Papa John’s International, Inc. has a 52-week low of $68.68 and a 52-week high of $90.49. The company has a market capitalization of $2.60 billion, a PE ratio of 24.87 and a beta of 0.50. The firm’s 50 day moving average is $73.49 and its 200-day moving average is $76.84.

Papa John’s International (NASDAQ:PZZA) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $0.65 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $434.78 million for the quarter, compared to analysts’ expectations of $438.51 million. During the same period in the previous year, the business earned $0.61 earnings per share. Papa John’s International’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities analysts forecast that Papa John’s International, Inc. will post $2.85 earnings per share for the current fiscal year.

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

A number of research firms have recently weighed in on PZZA. Zacks Investment Research cut shares of Papa John’s International from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Stifel Nicolaus began coverage on shares of Papa John’s International in a research note on Monday, October 2nd. They set a “hold” rating and a $65.00 price target on the stock. Citigroup Inc. began coverage on shares of Papa John’s International in a research note on Monday, September 18th. They set a “buy” rating and a $90.00 price target on the stock. BTIG Research reaffirmed a “buy” rating and set a $100.00 price target on shares of Papa John’s International in a research note on Tuesday, August 29th. Finally, Stephens upped their price target on shares of Papa John’s International from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $86.00.

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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.

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

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