Papa John’s International Target of Unusually High Options Trading (NASDAQ:PZZA)

Papa John’s International, Inc. (NASDAQ:PZZA) saw some unusual options trading activity on Thursday. Traders acquired 9,858 call options on the stock. This is an increase of 144% compared to the typical volume of 4,045 call options.

Analysts Set New Price Targets

Several brokerages have commented on PZZA. UBS Group decreased their price target on shares of Papa John’s International from $42.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, March 2nd. Benchmark decreased their target price on Papa John’s International from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft cut their price target on Papa John’s International from $45.00 to $35.00 and set a “hold” rating for the company in a report on Friday, February 27th. Weiss Ratings cut Papa John’s International from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 18th. Finally, Wall Street Zen raised shares of Papa John’s International from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $38.50.

Papa John’s International Stock Performance

PZZA stock traded up $0.10 during midday trading on Thursday, reaching $36.12. 179,056 shares of the company traded hands, compared to its average volume of 1,207,109. Papa John’s International has a 52-week low of $29.55 and a 52-week high of $55.74. The business has a 50 day moving average of $34.30 and a 200-day moving average of $35.36. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 43.42, a P/E/G ratio of 1.96 and a beta of 1.15.

Papa John’s International (NASDAQ:PZZA) last posted its quarterly earnings data 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 company had revenue of $478.61 million during the quarter, compared to the consensus estimate of $485.51 million. Papa John’s International had a net margin of 1.37% and a negative return on equity of 10.71%. Papa John’s International’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 earnings per share. Research analysts anticipate that Papa John’s International will post 1.51 earnings per share for the current year.

Papa John’s International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were given a $0.46 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.84 dividend on an annualized basis and a yield of 5.1%. Papa John’s International’s dividend payout ratio (DPR) is currently 221.69%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada increased its position in Papa John’s International by 32.8% during the first quarter. Royal Bank of Canada now owns 19,028 shares of the company’s stock valued at $781,000 after acquiring an additional 4,705 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Papa John’s International in the 1st quarter worth about $600,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Papa John’s International by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,785 shares of the company’s stock worth $813,000 after acquiring an additional 879 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Papa John’s International by 25.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 310,653 shares of the company’s stock worth $12,762,000 after purchasing an additional 62,103 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Papa John’s International by 81.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 112,592 shares of the company’s stock worth $4,625,000 after purchasing an additional 50,536 shares during the period.

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.