Traders Buy Large Volume of Papa John’s International Call Options (NASDAQ:PZZA)

Papa John’s International, Inc. (NASDAQ:PZZA) was the target of some unusual options trading on Monday. Investors bought 5,989 call options on the stock. This represents an increase of 55% compared to the average volume of 3,859 call options.

Institutional Investors Weigh In On Papa John’s International

Several hedge funds and other institutional investors have recently bought and sold shares of PZZA. Anson Funds Management LP acquired a new stake in shares of Papa John’s International in the 1st quarter valued at about $2,431,000. Arkadios Wealth Advisors bought a new position in Papa John’s International in the first quarter worth approximately $650,000. California State Teachers Retirement System boosted its holdings in Papa John’s International by 22.3% in the first quarter. California State Teachers Retirement System now owns 47,121 shares of the company’s stock worth $1,527,000 after acquiring an additional 8,584 shares in the last quarter. Royal Bank of Canada grew its stake in Papa John’s International by 76.8% in the first quarter. Royal Bank of Canada now owns 60,624 shares of the company’s stock valued at $1,964,000 after acquiring an additional 26,335 shares during the period. Finally, Excelsior Advisor Network LLC acquired a new stake in Papa John’s International in the first quarter valued at approximately $212,000.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Benchmark lowered their price target on shares of Papa John’s International from $50.00 to $45.00 and set a “buy” rating for the company in a report on Friday, May 8th. Mizuho decreased their price objective on shares of Papa John’s International from $33.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday. Weiss Ratings downgraded shares of Papa John’s International from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 18th. Bank of America restated an “underperform” rating and issued a $34.00 target price (down from $42.00) on shares of Papa John’s International in a report on Monday, July 13th. Finally, Piper Sandler cut their price target on shares of Papa John’s International from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, May 8th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $36.38.

Papa John’s International Stock Up 5.8%

PZZA traded up $1.73 during trading on Monday, hitting $31.63. The company’s stock had a trading volume of 421,443 shares, compared to its average volume of 1,147,035. Papa John’s International has a twelve month low of $29.55 and a twelve month high of $55.74. The stock’s fifty day moving average price is $33.41 and its 200-day moving average price is $34.11. The firm has a market capitalization of $1.04 billion, a P/E ratio of 38.12, a PEG ratio of 1.95 and a beta of 1.13.

Papa John’s International (NASDAQ:PZZA) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.08). The company had revenue of $478.61 million for the quarter, compared to analyst estimates 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 business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period last year, the business earned $0.36 EPS. Equities research analysts expect that Papa John’s International will post 1.48 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, May 29th. Investors of record on Monday, May 18th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.84 annualized dividend and a yield of 5.8%. Papa John’s International’s dividend payout ratio is currently 221.69%.

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.