Wellington Management Discloses Passive Stake in Papa John's

TL;DR

**Wellington Management just revealed a big, passive stake in Papa John's, signaling institutional confidence.**

AI Summary

Wellington Management Group LLP, a Massachusetts-based investment firm, filed an SC 13G on February 8, 2024, disclosing its ownership of Papa John's International, Inc. (PZZA) common stock. This filing indicates that as of December 29, 2023, Wellington Management holds a significant, but passive, stake in the pizza chain. This matters to investors because it signals a major institutional investor sees value in Papa John's, potentially boosting confidence in the stock.

Why It Matters

This filing shows a large, reputable investment firm has taken a significant position in Papa John's, which can be seen as a vote of confidence in the company's future prospects.

Risk Assessment

Risk Level: low — This filing is a routine disclosure of a passive investment by an institutional investor, indicating no immediate risk or major change in company control.

Analyst Insight

A smart investor would view this as a positive signal, suggesting that a major institutional player sees value in Papa John's. It might prompt further research into Papa John's fundamentals and future growth prospects, potentially considering it for a long-term investment.

Key Players & Entities

• Wellington Management Group LLP (company) — the reporting person and institutional investor
• Papa John's International, Inc. (company) — the subject company (issuer) whose stock is being reported
• Massachusetts (person) — place of organization for Wellington Management Group LLP
• December 29, 2023 (person) — the date of the event requiring the filing
• February 8, 2024 (person) — the filing date of the SC 13G

Forward-Looking Statements

• Other institutional investors may increase their positions in Papa John's International, Inc. following Wellington Management's disclosure. (Papa John's International, Inc.) — medium confidence, target: Q2 2024
• The stock price of Papa John's International, Inc. may experience a slight positive bump due to increased investor confidence. (Papa John's International, Inc.) — low confidence, target: Q1 2024

FAQ

Filing Documents

• SEC13G_Filing.htm (SC 13G) — 30KB
• 0000902219-24-000196.txt ( ) — 32KB

From the Filing

SC 13G 1 SEC13G_Filing.htm SEC SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. _ ) * Papa John's International, Inc. (Name of Issuer) Common Stock (Title of Class of Securities) 698813102 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (the "Act") or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however, see the Notes.) CUSIP No. 698813102 1. NAMES OF REPORTING PERSONS Wellington Management Group LLP 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Massachusetts NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 1,426,502 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 1,698,833 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,698,833 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.19% 12. TYPE OF REPORTING PERSON HC CUSIP No. 698813102 1. NAMES OF REPORTING PERSONS Wellington Group Holdings LLP 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 1,426,502 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 1,698,833 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,698,833 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.19% 12. TYPE OF REPORTING PERSON HC CUSIP No. 698813102 1. NAMES OF REPORTING PERSONS Wellington Investment Advisors Holdings LLP 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 0 6. SHARED VOTING POWER 1,426,502 7. SOLE DISPOSITIVE POWER 0 8. SHARED DISPOSITIVE POWER 1,698,833 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,698,833 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 5.19% 12. TYPE OF REPORTING PERSON HC Item 1. (a) Name of Issuer Papa John's International, Inc. (b) Address of Issuer's Principal Executive Offices 2002 Papa John’s Boulevard Louisville, KY 40299-2367 Item 2. (a) Name of Person Filing Wellington Management Group LLP Wellington Group Holdings LLP Wellington Investment Advisors Holdings LLP (b) Address of Principal Business Office or, if None, Residence c/o Wellington Management Company LLP 280 Congress Street Boston, MA 02210 (c) Citizenship Wellington Management Group LLP - Massachusetts Wellington Group Holdings LLP - Delaware Wellington Investment Advisors Holdings LLP - Delaware (d) Title of Class of Securities Common Stock (e) CUSIP Number 698813102 Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment Company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) [ ] An investment adviser in accordance with Rule 240.13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with Rule 240.13d-1(b)(1)(ii)(F); (g) [X] A parent holding company or control person in accordance with Rule 240.13d-1(b)(1)(ii)(G); (h) [ ] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [

View Full Filing

View this SC 13G filing on SEC EDGAR