Royal Bank of Canada Purchases 47,891 Shares of Papa John’s International, Inc. (PZZA)

Royal Bank of Canada raised its position in Papa John’s International, Inc. (NASDAQ:PZZA) by 59.5% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 128,392 shares of the company’s stock after buying an additional 47,891 shares during the quarter. Royal Bank of Canada owned about 0.35% of Papa John’s International worth $9,213,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PZZA. Fifth Third Bancorp increased its stake in Papa John’s International by 11.3% in the 1st quarter. Fifth Third Bancorp now owns 2,112 shares of the company’s stock valued at $169,000 after buying an additional 215 shares during the period. Victory Capital Management Inc. increased its stake in Papa John’s International by 55.0% in the 1st quarter. Victory Capital Management Inc. now owns 2,188 shares of the company’s stock valued at $175,000 after buying an additional 776 shares during the period. Trexquant Investment LP acquired a new position in Papa John’s International in the 2nd quarter valued at $201,000. Riverhead Capital Management LLC increased its stake in Papa John’s International by 87.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,996 shares of the company’s stock valued at $215,000 after buying an additional 1,396 shares during the period. Finally, LS Investment Advisors LLC increased its stake in Papa John’s International by 11.5% in the 2nd quarter. LS Investment Advisors LLC now owns 3,047 shares of the company’s stock valued at $219,000 after buying an additional 315 shares during the period. 83.77% of the stock is currently owned by institutional investors.

Several equities analysts have issued reports on PZZA shares. Zacks Investment Research cut shares of Papa John’s International from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. BTIG Research reissued a “buy” rating and issued a $100.00 price objective on shares of Papa John’s International in a research note on Tuesday, August 29th. BidaskClub cut shares of Papa John’s International from a “sell” rating to a “strong sell” rating in a research note on Friday, June 30th. Stifel Nicolaus started coverage on shares of Papa John’s International in a research note on Monday, October 2nd. They issued a “hold” rating and a $65.00 price objective on the stock. Finally, Instinet reissued a “neutral” rating and issued a $78.00 price objective (down from $84.00) on shares of Papa John’s International in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $84.75.

TRADEMARK VIOLATION NOTICE: This news story was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this news story on another domain, it was stolen and republished in violation of international copyright and trademark laws. The original version of this news story can be read at https://ledgergazette.com/2017/10/18/royal-bank-of-canada-purchases-47891-shares-of-papa-johns-international-inc-pzza.html.

In related news, SVP Timothy C. Ohern sold 9,218 shares of Papa John’s International stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $75.08, for a total value of $692,087.44. Following the transaction, the senior vice president now owns 35,650 shares of the company’s stock, valued at approximately $2,676,602. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 27.70% of the company’s stock.

Papa John’s International, Inc. (NASDAQ PZZA) opened at 70.43 on Wednesday. The firm has a 50-day moving average of $72.68 and a 200-day moving average of $76.67. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 24.53 and a beta of 0.50. Papa John’s International, Inc. has a 12-month low of $68.68 and a 12-month high of $90.49.

Papa John’s International (NASDAQ:PZZA) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.01. The firm had revenue of $434.78 million for the quarter, compared to analysts’ expectations of $438.51 million. Papa John’s International had a return on equity of 919.82% and a net margin of 6.13%. Papa John’s International’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $0.61 EPS. Equities research analysts forecast that Papa John’s International, Inc. will post $2.85 earnings per share for the current fiscal year.

Papa John’s International announced that its Board of Directors has approved a share buyback program on Tuesday, August 1st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 198% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management

A number of other institutional investors and hedge funds have also recently made changes to their positions in PZZA. Fifth Third Bancorp increased its stake in Papa John’s International by 11.3% in the 1st quarter. Fifth Third Bancorp now owns 2,112 shares of the company’s stock valued at $169,000 after buying an additional 215 shares during the period. Victory Capital Management Inc. increased its stake in Papa John’s International by 55.0% in the 1st quarter. Victory Capital Management Inc. now owns 2,188 shares of the company’s stock valued at $175,000 after buying an additional 776 shares during the period. Trexquant Investment LP acquired a new position in Papa John’s International in the 2nd quarter valued at $201,000. Riverhead Capital Management LLC increased its stake in Papa John’s International by 87.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,996 shares of the company’s stock valued at $215,000 after buying an additional 1,396 shares during the period. Finally, LS Investment Advisors LLC increased its stake in Papa John’s International by 11.5% in the 2nd quarter. LS Investment Advisors LLC now owns 3,047 shares of the company’s stock valued at $219,000 after buying an additional 315 shares during the period. 83.77% of the stock is currently owned by institutional investors.

Several equities analysts have issued reports on PZZA shares. Zacks Investment Research cut shares of Papa John’s International from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. BTIG Research reissued a “buy” rating and issued a $100.00 price objective on shares of Papa John’s International in a research note on Tuesday, August 29th. BidaskClub cut shares of Papa John’s International from a “sell” rating to a “strong sell” rating in a research note on Friday, June 30th. Stifel Nicolaus started coverage on shares of Papa John’s International in a research note on Monday, October 2nd. They issued a “hold” rating and a $65.00 price objective on the stock. Finally, Instinet reissued a “neutral” rating and issued a $78.00 price objective (down from $84.00) on shares of Papa John’s International in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $84.75.

TRADEMARK VIOLATION NOTICE: This news story was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this news story on another domain, it was stolen and republished in violation of international copyright and trademark laws. The original version of this news story can be read at https://ledgergazette.com/2017/10/18/royal-bank-of-canada-purchases-47891-shares-of-papa-johns-international-inc-pzza.html.

In related news, SVP Timothy C. Ohern sold 9,218 shares of Papa John’s International stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $75.08, for a total value of $692,087.44. Following the transaction, the senior vice president now owns 35,650 shares of the company’s stock, valued at approximately $2,676,602. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 27.70% of the company’s stock.

Papa John’s International, Inc. (NASDAQ PZZA) opened at 70.43 on Wednesday. The firm has a 50-day moving average of $72.68 and a 200-day moving average of $76.67. The stock has a market capitalization of $2.56 billion, a price-to-earnings ratio of 24.53 and a beta of 0.50. Papa John’s International, Inc. has a 12-month low of $68.68 and a 12-month high of $90.49.

Papa John’s International (NASDAQ:PZZA) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.01. The firm had revenue of $434.78 million for the quarter, compared to analysts’ expectations of $438.51 million. Papa John’s International had a return on equity of 919.82% and a net margin of 6.13%. Papa John’s International’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $0.61 EPS. Equities research analysts forecast that Papa John’s International, Inc. will post $2.85 earnings per share for the current fiscal year.

Papa John’s International announced that its Board of Directors has approved a share buyback program on Tuesday, August 1st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 198% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Papa John’s International Company Profile

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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