Papa Johns International (NASDAQ:PZZA) Hits New 12-Month Low on Analyst Downgrade

Shares of Papa Johns International, Inc. (NASDAQ:PZZA) hit a new 52-week low during trading on Monday after Benchmark lowered their price target on the stock from $65.00 to $50.00. Benchmark currently has a buy rating on the stock. Papa Johns International traded as low as $30.18 and last traded at $30.68, with a volume of 98241 shares traded. The stock had previously closed at $31.16.

PZZA has been the subject of several other research reports. Northcoast Research upgraded Papa Johns International to a “hold” rating in a research report on Monday, March 3rd. UBS Group lowered their target price on shares of Papa Johns International from $56.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Stephens reiterated an “overweight” rating and set a $60.00 target price on shares of Papa Johns International in a research report on Thursday, February 27th. Loop Capital decreased their price objective on shares of Papa Johns International from $73.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Finally, Wedbush reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Papa Johns International in a report on Friday, February 28th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $53.00.

Institutional Investors Weigh In On Papa Johns International

Several hedge funds have recently modified their holdings of the company. Stifel Financial Corp lifted its holdings in shares of Papa Johns International by 39.4% during the third quarter. Stifel Financial Corp now owns 12,157 shares of the company’s stock worth $655,000 after purchasing an additional 3,433 shares during the period. MML Investors Services LLC bought a new position in shares of Papa Johns International during the third quarter worth about $266,000. Virtu Financial LLC bought a new stake in Papa Johns International in the third quarter valued at approximately $312,000. Optimist Retirement Group LLC bought a new stake in Papa Johns International in the third quarter valued at approximately $286,000. Finally, Irth Capital Management LP acquired a new stake in Papa Johns International during the 4th quarter valued at approximately $66,883,000.

Papa Johns International Trading Down 2.7 %

The stock’s 50-day moving average price is $42.11 and its 200-day moving average price is $44.42. The stock has a market cap of $992.06 million, a price-to-earnings ratio of 10.57, a P/E/G ratio of 2.41 and a beta of 1.25.

Papa Johns International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Monday, February 10th were issued a dividend of $0.46 per share. The ex-dividend date was Monday, February 10th. This represents a $1.84 annualized dividend and a dividend yield of 6.07%. Papa Johns International’s dividend payout ratio is currently 73.02%.

About Papa Johns International

Papa John’s International, Inc engages in the operation and franchise of pizza delivery and carryout restaurants. It operates through the following segments: Domestic Company-owned Restaurants, North America Franchising, North America Commissaries, International Operations, and All Others. The Domestic Company-Owned Restaurants segment consists of retail sales of pizza and side items, breadsticks, cheese sticks, chicken poppers and wings, dessert items, and canned and bottled beverages.