River Road Asset Management LLC Lowers Stake in Papa Johns International, Inc. (NASDAQ:PZZA)

River Road Asset Management LLC lowered its position in shares of Papa Johns International, Inc. (NASDAQ:PZZA) by 6.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,138,084 shares of the company’s stock after selling 147,581 shares during the quarter. Papa Johns International accounts for about 1.2% of River Road Asset Management LLC’s investment portfolio, making the stock its 27th largest position. River Road Asset Management LLC owned approximately 6.55% of Papa Johns International worth $87,811,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Irth Capital Management LP purchased a new position in shares of Papa Johns International during the 4th quarter valued at $66,883,000. Stephens Investment Management Group LLC lifted its position in shares of Papa Johns International by 6.0% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,156,705 shares of the company’s stock valued at $47,506,000 after acquiring an additional 64,972 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Papa Johns International by 18.0% in the fourth quarter. Bank of New York Mellon Corp now owns 389,837 shares of the company’s stock valued at $16,011,000 after acquiring an additional 59,404 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Papa Johns International by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 383,892 shares of the company’s stock valued at $15,766,000 after acquiring an additional 5,216 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new position in Papa Johns International in the 3rd quarter worth approximately $15,845,000.

Papa Johns International Price Performance

Papa Johns International stock opened at $48.97 on Tuesday. The company’s 50-day moving average is $42.15 and its 200 day moving average is $46.76. Papa Johns International, Inc. has a 1-year low of $35.28 and a 1-year high of $72.88. The firm has a market capitalization of $1.60 billion, a P/E ratio of 17.06, a price-to-earnings-growth ratio of 2.41 and a beta of 1.16.

Papa Johns International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Monday, February 10th were paid a $0.46 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.84 dividend on an annualized basis and a yield of 3.76%. Papa Johns International’s payout ratio is 73.02%.

Analyst Upgrades and Downgrades

PZZA has been the topic of a number of research analyst reports. KeyCorp cut Papa Johns International from an “overweight” rating to a “sector weight” rating in a report on Thursday, November 14th. UBS Group decreased their price target on shares of Papa Johns International from $56.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Wedbush reiterated an “outperform” rating and issued a $60.00 target price on shares of Papa Johns International in a research report on Friday, February 28th. Northcoast Research raised Papa Johns International to a “hold” rating in a report on Monday, March 3rd. Finally, Stephens reaffirmed an “overweight” rating and set a $60.00 price target on shares of Papa Johns International in a research note on Thursday, February 27th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.67.

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.