|Bid||47.89 x 100|
|Ask||48.00 x 200|
|Day's Range||47.29 - 50.24|
|52 Week Range||47.29 - 81.09|
|PE Ratio (TTM)||18.81|
|Earnings Date||Jul 30, 2018 - Aug 3, 2018|
|Forward Dividend & Yield||0.90 (1.77%)|
|1y Target Est||59.80|
Shares of Papa John's International Inc. (pzza) sank 6% in morning trade Monday, after Stifel Nicolaus turned bearish on the pizza restaurant chain, and the company disclosed it adopted a "poison pill" in an attempt to discourage an entity from taking control. Stifel analyst Chris O'Cull cut his rating to sell from hold and slashed his stock price target to $38 from $50. O'Cull said his research suggests same-store sales have turned down in the mid-teens percentage range since last week's media reports about Founder John Schnatter using a racial slur.
The battle between Papa John's and its founder is putting the company in a precarious position, threatening not just future sales, but employee and franchisee commitment to the brand. Stifel analyst Chris O'Cull lowered his third- and fourth-quarter estimates for the company's domestic same-store sales, calling for a decline of 12 percent and 10 percent, respectively. The ongoing battle between Papa John's PZZA and its founder is putting the company in a precarious position, threatening not just future sales, but employee and franchisee commitment to the brand, an analyst said, as he downgraded the stock to sell from hold.
said late Sunday that it will adopt a so-called "poison pill" to avoid outside investors from taking control of the company without compensating shareholders, but added that the current holdings of its controversial founder and former CEO, John Schnatter, would be grandfathered in to the new plan. The strategy, which will trigger once an investor or a group of investors assumes control of 15% of the company, will see each existing shareholder receive the right to one additional share for each outstanding common share. "The adoption of the Rights Plan is intended to enable all Papa John's stockholders to realize the full potential value of their investment in the company and to protect the interests of the company and its stockholders by reducing the likelihood that any person or group gains control of Papa John's through open market accumulation or other tactics without paying an appropriate control premium," the company said in a statement late Sunday.
LOUISVILLE, Ky. (AP) — Papa John's is attempting to ward off its controversial founder from amassing a controlling stake in the company by adopting a "poison-pill" plan.
Among the companies with shares expected to trade actively in Monday's session are Tesla, Alphabet, Papa John's, Mondelez and Hasbro.
Zacks Investment Ideas feature highlights: Wendy's, Papa John's, McDonald's, Domino's and Yum Brands
founder John Schnatter's PR nightmare it's that appearances can be deceiving. Shares of Papa John's have dropped 13% since Schnatter first made headlines with his comments on the NFL national anthem protests in December 2017. No one can predict the market, but you would be acting dumb as an investor not to do whatever possible to reduce the chances of finding yourself on the wrong side of a corporate governance scandal.
(Reuters) - Papa John's International Inc on Sunday adopted a shareholder rights plan, or a "poison pill", with a 15 percent trigger to deter existing stockholders from amassing a controlling stake in the company. The company also declared a dividend of one right for each outstanding common share. The rights plan expires on July 22, 2019 and the record date for dividend distribution is Aug. 2, the company said in a statement.
The company also declared a dividend of one right for each outstanding common share. The rights plan expires on July 22, 2019 and the record date for dividend distribution is Aug. 2, the company said in a statement. The pizza chain's former chief executive and founder, John Schnatter and his affiliates and associates who currently beneficially own common shares in excess of 30 percent have been grandfathered under the Rights Plan, the company said.
Papa John’s International Inc.’s ( PZZA) board voted over the weekend to adopt a so-called poison pill as it took steps to prevent ousted founder John Schnatter from gaining control of the company. The Wall Street Journal, citing people familiar with the matter, reported that the move comes as the board tries to end its relationship with Schnatter, who resigned as chairman earlier this month after making racial slurs during media training. Since Schnatter resigned as chairman earlier this month, he has said he regretted the incident and argued the board's investigation into the comments wasn't thorough enough.
Shooting in Toronto Kills One, Shooter Dead, Gun Stocks in Focus A man fired a handgun into a Toronto café this morning, killing one and injuring 14, before being killed himself in a shootout with the police. His motive is unclear so far, and Canadian authorities are not ruling out nationalistic motives. Several months ago, […] The post Market Morning: Trump v Iran, Toronto Shooting, Poison Pizza Pill, Japanese Yields Rise appeared first on Market Exclusive.
U.S. stock futures pointed lower on Monday, July 23, European shares fell and Asian stocks finished the session mixed as investors picked through a number of developments in the White House's ongoing trade disputes with its allies and trading partners. An official communique from a meeting of G-20 finance ministers and central bankers over the weekend in Buenos Aires reiterated the downside risks to global growth, saying they included "rising financial vulnerabilities, heightened trade and geopolitical tensions, global imbalances, inequality and structurally weak growth" following Donald Trump's declaration last week that he was "ready to go" in imposing tariffs on $500 billion worth of China-made goods in his effort to reduce a record trade deficit with the world's second-largest economy.
The following are the top stories in the Wall Street Journal. - Atos SE of France has struck a $3.4 billion deal to buy Syntel Inc, a U.S. based information-technology company, in a move that would give it access to some of the biggest U.S. financial-services companies. - Tesla Inc has asked some suppliers to refund a portion of what the electric-car company has spent previously, an appeal that reflects the auto maker's urgency to sustain operations during a critical production period.
Papa John’s International Inc.’s board approved a so-called poison-pill plan to fend off any attempt by founder John Schnatter to gain a controlling interest as the pizza chain seeks distance from its controversial namesake. Adopting the takeover defense is the latest effort by Louisville, Kentucky-based Papa John’s to loosen ties to the founder, who remains a director and owns a 29 percent stake that could be used to mount a challenge. The board adopted a limited-duration stockholder rights plan that would become exercisable if an investor acquired 15 percent or more of Papa John’s shares without the approval of directors, according to a company statement late Sunday.
Papa John’s International, Inc. (PZZA) today announced that its Board of Directors has approved the adoption of a limited duration stockholder rights plan (the “Rights Plan”) and declared a dividend distribution of one right (“Right”) for each outstanding share of common stock. The Rights Plan expires, without any further action being required to be taken by Papa John’s Board of Directors, on July 22, 2019. The adoption of the Rights Plan is intended to enable all Papa John’s stockholders to realize the full potential value of their investment in the company and to protect the interests of the company and its stockholders by reducing the likelihood that any person or group gains control of Papa John’s through open market accumulation or other tactics without paying an appropriate control premium.
Papa John’s International Inc.’s board members voted to adopt a “poison pill” on Sunday to prevent its controversial founder from gaining a controlling interest in the pizza chain, according to people familiar with the matter. The board has been trying to sever ties with John Schnatter, who founded Papa John’s 34 years ago, following revelations that he used a racial slur during a recent conference call. Mr. Schnatter owns 29% of Papa John’s shares and has indicated that he won’t cede control of the company without a fight.
Papa John's board is discussing whether to vote Sunday on blocking founder John Schnatter from gaining a controlling interest, WSJ reports #tictocnews (Source: Bloomberg)
Papa John's founder John Schnatter stepped down after it was revealed he had used a racial slur on a conference call. Schnatter stepped down as chairman of the pizza chain on July 11, after it came to light that he had used a racial slur during a conference call in May. He has been battling with board members since then, suggesting that he may have made a mistake in stepping down.
Inc. board members are planning to discuss and possibly vote Sunday morning on whether to adopt a “poison pill” to prevent its controversial founder from gaining a controlling interest in the pizza chain, according to people familiar with the matter. , who founded Papa John’s 34 years ago, following revelations that he used a racial slur during a recent conference call. Mr. Schnatter owns 29% of Papa John’s shares and has indicated that he won’t cede control of the company without a fight.
SAN DIEGO , July 21, 2018 /PRNewswire/ -- Shareholder Rights Law Firm Johnson Fistel, LLP is investigating potential claims against Papa John's International, Inc., and announces the filing of class action ...
Rosen Law Firm, a global investor rights law firm, announces it is investigating potential breaches of fiduciary duties by management of Papa John’s International, Inc. resulting from allegations that management may have issued materially misleading business information to the investing public.
NEW YORK , July 20, 2018 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Papa John's International, Inc. ("Papa ...
Papa John’s board voted to adopt a ‘poison pill’ aimed at preventing founder John Schnatter from getting a controlling stake in the company. FBN’s Cheryl Casone with more.