Tokio Marine Asset Management Co. Ltd. Raises Stake in Papa John’s Int’l, Inc. (NASDAQ:PZZA)

Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Papa John’s Int’l, Inc. (NASDAQ:PZZA) by 9.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,500 shares of the company’s stock after purchasing an additional 800 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Papa John’s Int’l were worth $425,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of PZZA. Jackson Square Partners LLC bought a new stake in shares of Papa John’s Int’l in the first quarter valued at about $121,272,000. FIL Ltd raised its holdings in shares of Papa John’s Int’l by 267.1% in the first quarter. FIL Ltd now owns 1,270,298 shares of the company’s stock valued at $67,262,000 after acquiring an additional 924,298 shares in the last quarter. Deprince Race & Zollo Inc. raised its holdings in shares of Papa John’s Int’l by 6.6% in the first quarter. Deprince Race & Zollo Inc. now owns 688,073 shares of the company’s stock valued at $36,433,000 after acquiring an additional 42,546 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Papa John’s Int’l by 106,517.1% in the first quarter. BNP Paribas Arbitrage SA now owns 429,667 shares of the company’s stock valued at $22,751,000 after acquiring an additional 429,264 shares in the last quarter. Finally, Granite Investment Partners LLC raised its holdings in shares of Papa John’s Int’l by 17.2% in the first quarter. Granite Investment Partners LLC now owns 339,613 shares of the company’s stock valued at $17,983,000 after acquiring an additional 49,884 shares in the last quarter. 93.81% of the stock is owned by hedge funds and other institutional investors.

In other news, major shareholder John H. Schnatter sold 114,061 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $52.69, for a total transaction of $6,009,874.09. Following the transaction, the insider now owns 9,239,507 shares in the company, valued at $486,829,623.83. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder John H. Schnatter sold 3,451,413 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $45.63, for a total transaction of $157,487,975.19. Following the transaction, the insider now owns 5,509,583 shares in the company, valued at approximately $251,402,272.29. The disclosure for this sale can be found here. Insiders sold 3,765,557 shares of company stock valued at $173,644,058 over the last quarter. 43.00% of the stock is currently owned by corporate insiders.

Papa John’s Int’l stock traded up $0.57 during trading hours on Tuesday, reaching $43.31. The stock had a trading volume of 24,571 shares, compared to its average volume of 761,357. The company has a market capitalization of $1.36 billion, a P/E ratio of 32.32, a price-to-earnings-growth ratio of 3.12 and a beta of 0.43. The stock has a 50 day moving average of $45.39. Papa John’s Int’l, Inc. has a 52 week low of $38.05 and a 52 week high of $60.56.

Papa John’s Int’l (NASDAQ:PZZA) last announced its earnings results on Tuesday, May 7th. The company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.10. The business had revenue of $398.41 million during the quarter, compared to the consensus estimate of $384.67 million. Papa John’s Int’l had a negative net margin of 1.09% and a negative return on equity of 13.51%. The firm’s revenue was down 11.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 earnings per share. Research analysts predict that Papa John’s Int’l, Inc. will post 1.13 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Monday, August 12th will be issued a $0.225 dividend. The ex-dividend date is Friday, August 9th. This represents a $0.90 dividend on an annualized basis and a yield of 2.08%. Papa John’s Int’l’s dividend payout ratio is presently 67.16%.

Several research firms recently weighed in on PZZA. Credit Suisse Group began coverage on Papa John’s Int’l in a report on Tuesday, June 25th. They issued a “neutral” rating and a $45.00 price objective for the company. ValuEngine downgraded Papa John’s Int’l from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Citigroup lifted their price objective on Papa John’s Int’l from $55.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Stephens lifted their price objective on Papa John’s Int’l from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Finally, BidaskClub upgraded shares of Papa John’s Int’l from a “sell” rating to a “hold” rating in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $54.20.

About Papa John’s Int’l

Papa John's International, Inc operates and franchises pizza delivery and carryout restaurants under the Papa John's trademark in the United States and internationally. It operates through four segments: Domestic Company-Owned Restaurants, North America Commissaries, North America Franchising, and International Operations.

Further Reading: Fundamental Analysis

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

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