Convergence Investment Partners LLC Lowers Stake in Papa John’s Int’l, Inc. (NASDAQ:PZZA)

Convergence Investment Partners LLC decreased its position in Papa John’s Int’l, Inc. (NASDAQ:PZZA) by 13.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,422 shares of the company’s stock after selling 1,314 shares during the period. Convergence Investment Partners LLC’s holdings in Papa John’s Int’l were worth $669,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of PZZA. Amundi Pioneer Asset Management Inc. bought a new position in Papa John’s Int’l during the first quarter valued at approximately $138,000. Victory Capital Management Inc. raised its holdings in Papa John’s Int’l by 11.4% in the 4th quarter. Victory Capital Management Inc. now owns 3,442 shares of the company’s stock valued at $217,000 after acquiring an additional 352 shares during the last quarter. UBS Asset Management Americas Inc. raised its holdings in Papa John’s Int’l by 9.8% in the 4th quarter. UBS Asset Management Americas Inc. now owns 26,378 shares of the company’s stock valued at $1,666,000 after acquiring an additional 2,360 shares during the last quarter. AQR Capital Management LLC acquired a new stake in Papa John’s Int’l in the 4th quarter valued at about $220,000. Finally, Baird Financial Group Inc. raised its holdings in Papa John’s Int’l by 22.0% in the 4th quarter. Baird Financial Group Inc. now owns 12,117 shares of the company’s stock valued at $766,000 after acquiring an additional 2,187 shares during the last quarter.

PZZA has been the subject of a number of recent research reports. Credit Suisse Group increased their price objective on shares of Papa John’s Int’l from $84.00 to $90.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Jefferies Financial Group restated a “hold” rating on shares of Papa John’s Int’l in a report on Wednesday, July 8th. MKM Partners raised their price target on shares of Papa John’s Int’l from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Longbow Research restated a “buy” rating and set a $95.00 price target on shares of Papa John’s Int’l in a report on Tuesday, June 23rd. Finally, UBS Group raised their price target on shares of Papa John’s Int’l from $67.00 to $78.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $81.73.

In related news, COO Jack H. Swaysland sold 1,420 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $82.07, for a total transaction of $116,539.40. Following the sale, the chief operating officer now owns 20,030 shares of the company’s stock, valued at $1,643,862.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 17.58% of the stock is currently owned by insiders.

Shares of Papa John’s Int’l stock traded up $1.42 during trading on Friday, hitting $94.67. 450,518 shares of the stock were exchanged, compared to its average volume of 525,206. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 4,733.50, a price-to-earnings-growth ratio of 9.30 and a beta of 0.95. The firm’s 50-day moving average price is $86.12 and its 200 day moving average price is $70.86. Papa John’s Int’l, Inc. has a 12-month low of $28.55 and a 12-month high of $96.43.

Papa John’s Int’l (NASDAQ:PZZA) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.25). The firm had revenue of $409.86 million for the quarter, compared to analysts’ expectations of $413.61 million. Papa John’s Int’l had a negative return on equity of 14.40% and a net margin of 0.92%. Papa John’s Int’l’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the firm posted $0.31 earnings per share. On average, equities analysts forecast that Papa John’s Int’l, Inc. will post 1.27 earnings per share for the current year.

Papa John’s Int’l Company Profile

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.

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

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