ING Groep NV acquired a new stake in Papa John’s International, Inc. (NASDAQ:PZZA) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 3,220 shares of the company’s stock, valued at approximately $231,000.

Other large investors have also made changes to their positions in the company. Profund Advisors LLC increased its stake in Papa John’s International by 0.6% in the first quarter. Profund Advisors LLC now owns 4,278 shares of the company’s stock worth $342,000 after buying an additional 25 shares during the period. Capstone Asset Management Co. increased its stake in Papa John’s International by 3.6% in the first quarter. Capstone Asset Management Co. now owns 4,286 shares of the company’s stock worth $343,000 after buying an additional 150 shares during the period. Glen Harbor Capital Management LLC increased its stake in Papa John’s International by 20.4% in the first quarter. Glen Harbor Capital Management LLC now owns 1,820 shares of the company’s stock worth $146,000 after buying an additional 308 shares during the period. Bank of New York Mellon Corp increased its stake in Papa John’s International by 43.7% in the first quarter. Bank of New York Mellon Corp now owns 470,859 shares of the company’s stock worth $37,688,000 after buying an additional 143,192 shares during the period. Finally, BlackRock Inc. increased its stake in Papa John’s International by 13,761.9% in the first quarter. BlackRock Inc. now owns 3,080,947 shares of the company’s stock worth $246,601,000 after buying an additional 3,058,721 shares during the period. 79.33% of the stock is owned by hedge funds and other institutional investors.

Shares of Papa John’s International, Inc. (NASDAQ:PZZA) traded up 1.05% on Friday, hitting $78.69. The stock had a trading volume of 283,457 shares. The stock has a market capitalization of $2.87 billion, a PE ratio of 27.41 and a beta of 0.51. The firm’s 50 day moving average is $74.94 and its 200-day moving average is $78.66. Papa John’s International, Inc. has a one year low of $70.73 and a one year high of $90.49.

Papa John’s International (NASDAQ:PZZA) last released its earnings results on Tuesday, August 1st. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.01. Papa John’s International had a return on equity of 919.82% and a net margin of 6.13%. The business had revenue of $434.78 million for the quarter, compared to analyst estimates of $438.51 million. During the same quarter in the prior year, the company posted $0.61 earnings per share. Papa John’s International’s revenue was up 2.8% on a year-over-year basis. Equities research analysts expect that Papa John’s International, Inc. will post $2.86 earnings per share for the current fiscal year.

Papa John’s International announced that its board has initiated a stock repurchase program on Tuesday, August 1st that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 198% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, August 7th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.14%. The ex-dividend date is Thursday, August 3rd. This is a positive change from Papa John’s International’s previous quarterly dividend of $0.20. Papa John’s International’s dividend payout ratio is presently 31.36%.

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A number of equities research analysts have recently weighed in on PZZA shares. BidaskClub downgraded Papa John’s International from a “sell” rating to a “strong sell” rating in a research note on Friday, June 30th. Stephens reaffirmed an “overweight” rating and set a $90.00 price target (down from $100.00) on shares of Papa John’s International in a research note on Monday, June 26th. Zacks Investment Research raised Papa John’s International from a “strong sell” rating to a “hold” rating in a research note on Friday, July 7th. Jefferies Group LLC set a $83.00 price target on Papa John’s International and gave the stock a “hold” rating in a research note on Wednesday, April 19th. Finally, KeyCorp reaffirmed an “equal weight” rating on shares of Papa John’s International in a research note on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $89.17.

In related news, SVP Timothy C. Ohern sold 6,000 shares of the company’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $81.79, for a total transaction of $490,740.00. Following the sale, the senior vice president now owns 36,020 shares in the company, valued at $2,946,075.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steve M. Ritchie sold 10,396 shares of the company’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $80.00, for a total value of $831,680.00. Following the sale, the insider now owns 37,601 shares in the company, valued at approximately $3,008,080. The disclosure for this sale can be found here. Corporate insiders own 27.70% of the company’s stock.

About Papa John’s International

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.

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

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