Papa Johns International, Inc. (NASDAQ:PZZA) Sees Significant Drop in Short Interest

Papa Johns International, Inc. (NASDAQ:PZZA) was the recipient of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 3,810,000 shares, a drop of 30.9% from the February 13th total of 5,510,000 shares. Currently, 11.9% of the company’s shares are sold short. Based on an average daily trading volume, of 1,560,000 shares, the days-to-cover ratio is presently 2.4 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB lifted its position in Papa Johns International by 300.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 600 shares of the company’s stock valued at $25,000 after purchasing an additional 450 shares in the last quarter. CIBC Private Wealth Group LLC bought a new position in Papa Johns International in the 4th quarter worth $30,000. US Bancorp DE increased its stake in Papa Johns International by 225.4% in the 3rd quarter. US Bancorp DE now owns 1,331 shares of the company’s stock worth $72,000 after buying an additional 922 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Papa Johns International by 111.9% during the fourth quarter. Jones Financial Companies Lllp now owns 1,358 shares of the company’s stock valued at $56,000 after acquiring an additional 717 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Papa Johns International in the fourth quarter valued at about $58,000.

Papa Johns International Stock Performance

Shares of PZZA stock traded up $3.74 during mid-day trading on Monday, hitting $47.10. The company’s stock had a trading volume of 574,682 shares, compared to its average volume of 1,699,041. The business has a 50-day moving average price of $42.49 and a 200 day moving average price of $46.68. Papa Johns International has a 52-week low of $35.28 and a 52-week high of $72.23. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 2.41 and a beta of 1.16.

Papa Johns International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Monday, February 10th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date was Monday, February 10th. Papa Johns International’s dividend payout ratio (DPR) is presently 73.02%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PZZA shares. Jefferies Financial Group cut their target price on shares of Papa Johns International from $55.00 to $42.00 and set a “hold” rating on the stock in a research note on Wednesday, January 15th. UBS Group reduced their target price on Papa Johns International from $56.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Northcoast Research raised Papa Johns International to a “hold” rating in a research report on Monday, March 3rd. Stephens restated an “overweight” rating and set a $60.00 price target on shares of Papa Johns International in a research report on Thursday, February 27th. Finally, Wedbush reiterated an “outperform” rating and issued a $60.00 price objective on shares of Papa Johns International in a report on Friday, February 28th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Papa Johns International has an average rating of “Hold” and a consensus target price of $55.67.

Papa Johns International Company Profile

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.