Papa John's (PZZA)

• Market cap: $1.28B
• 1 day: 0.54%
• 5 days: -2.01%
• 1 month: -2.52%
• 3 months: -24.04%
• 6 months: -10.78%
• Year to date: -9.70%
• 1 year: -48.52%
• 5 years: -40.28%
• 10 years: -38.42%
• Sector: Consumer Discretionary
• Industry: Eating Places

About: Papa John's is one of the largest players in the global QSR, or quick-service restaurant, pizza market, boasting more than 5,900 restaurants across nearly 50 countries at the end of 2023. The firm operates a predominantly franchised system, owning 11% of its restaurants and generating revenue from franchise royalties, sales of pizza and related products at its company-owned stores, and sales from its commissary supply chain. The firm is the fourth-largest limited-service pizza chain both in the US and globally, with a sizable presence in the UK, China, South Korea, and Chile.

Employees: 13,200

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

67% more first-time investments, than exits

New positions opened: 70 | Existing positions closed: 42

18% more capital invested

Capital invested by funds: $1.9B [Q2] → $2.25B (+$349M) [Q3]

11% more funds holding

Funds holding: 240 [Q2] → 266 (+26) [Q3]

5.25% more ownership

Funds ownership: 122.52% [Q2] → 127.78% (+5.25%) [Q3]

8% more repeat investments, than reductions

Existing positions increased: 86 | Existing positions reduced: 80

5% less call options, than puts

Call options by funds: $288M | Put options by funds: $304M

Research analyst outlook

5 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $42 7% upside
• Avg. target: $54 38% upside
• High target: $62 59% upside

5 analyst ratings

• positive: 3 60%
• neutral: 2 40%
• negative: 0 0%

Loop Capital Alton Stump 0 / 0 met price target	54% upside $60	Buy Maintained	21 Jan 2025
Jefferies Andy Barish 0 / 0 met price target	7% upside $42	Hold Maintained	15 Jan 2025
Wedbush Nick Setyan 0 / 0 met price target	54% upside $60	Outperform Reiterated	15 Jan 2025
Stephens & Co. Jim Salera 65% 1-year accuracy 22 / 34 met price target	59% upside $62	Overweight Reiterated	13 Jan 2025
UBS Dennis Geiger 50% 1-year accuracy 8 / 16 met price target	15% upside $45	Neutral Maintained	7 Jan 2025