Vanguard Amends Papa John's Stake to 15.7%, Holding 5.0M Shares

Ticker: PZZA · Form: SC 13G/A · Filed: 2024-02-13T00:00:00.000Z

Sentiment: neutral

Topics: institutional-ownership, amendment, passive-investing

TL;DR

**Vanguard still owns a huge chunk of Papa John's, but slightly less than before.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, indicating its beneficial ownership of Papa John's International Inc. common stock as of December 29, 2023. This amendment, the 10th for Vanguard regarding Papa John's, shows that Vanguard holds 5,009,006 shares, representing 15.7% of the company's outstanding common stock. This matters to investors because Vanguard is a passive institutional investor, and its significant, albeit slightly reduced, stake suggests continued confidence in Papa John's, but the decrease in ownership could signal a slight shift in their portfolio allocation.

Why It Matters

This filing shows that a major institutional investor, The Vanguard Group, continues to hold a significant stake in Papa John's, providing a vote of confidence, though a slight reduction in their ownership percentage could be a minor concern.

Risk Assessment

Risk Level: low — This filing is a routine update from a passive institutional investor and does not indicate any immediate high-risk events for the company.

Analyst Insight

Investors should note that a major institutional investor like Vanguard continues to hold a substantial, albeit slightly reduced, position in Papa John's, suggesting long-term stability but not necessarily strong bullish momentum from this specific filing.

Key Numbers

5,009,006 — Shares Beneficially Owned (Represents The Vanguard Group's total ownership in Papa John's International Inc. common stock.)
15.7% — Percentage of Class (Indicates The Vanguard Group's significant stake in Papa John's International Inc., making them a major shareholder.)
10 — Amendment Number (Shows this is the tenth amendment to Vanguard's Schedule 13G filing for Papa John's, indicating ongoing adjustments to their position.)
December 29, 2023 — Event Date (The specific date when the ownership change occurred that triggered this filing.)
0 — Sole Voting Power (Vanguard holds no sole voting power, indicating their passive investment strategy.)

Key Players & Entities

The Vanguard Group (company) — reporting person and institutional investor
Papa John's International Inc (company) — issuer of the securities
5,009,006 shares (dollar_amount) — total shares beneficially owned by Vanguard
15.7% (dollar_amount) — percentage of class beneficially owned by Vanguard
December 29, 2023 (date) — date of event requiring the filing
February 13, 2024 (date) — filing date of the SC 13G/A

Forward-Looking Statements

Vanguard will maintain a significant, but potentially slightly fluctuating, passive stake in Papa John's International Inc. over the next year. (The Vanguard Group) — high confidence, target: 2025-02-13

FAQ

What is the purpose of this SC 13G/A filing?

This SC 13G/A filing is an amendment (Amendment No. 10) by The Vanguard Group to update its beneficial ownership of Papa John's International Inc. common stock, as required by Rule 13d-1(b) of the Securities Exchange Act of 1934.

Who is the reporting person in this filing and what is their IRS Identification Number?

The reporting person is The Vanguard Group, and its I.R.S. Identification No. is 23-1945930, as stated in Item 1 of the filing.

What percentage of Papa John's International Inc. common stock does The Vanguard Group beneficially own according to this filing?

The Vanguard Group beneficially owns 15.7% of the class of common stock of Papa John's International Inc., as indicated in the filing's cover page.

How many shares of Papa John's International Inc. common stock does The Vanguard Group beneficially own?

The Vanguard Group beneficially owns 5,009,006 shares of Papa John's International Inc. common stock, as reported in the filing's cover page.

What was the date of the event that required this filing?

The date of the event which required the filing of this statement was December 29, 2023, as specified in the filing.

From the Filing

0001104659-24-021665.txt : 20240213 0001104659-24-021665.hdr.sgml : 20240213 20240213171214 ACCESSION NUMBER: 0001104659-24-021665 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240213 DATE AS OF CHANGE: 20240213 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PAPA JOHNS INTERNATIONAL INC CENTRAL INDEX KEY: 0000901491 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-EATING PLACES [5812] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 611203323 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-44487 FILM NUMBER: 24629291 BUSINESS ADDRESS: STREET 1: 2002 PAPA JOHNS BOULEVARD CITY: LOUISVILLE STATE: KY ZIP: 40299-2334 BUSINESS PHONE: 5022617272 MAIL ADDRESS: STREET 1: P O BOX 99900 CITY: LOUISVILLE STATE: KY ZIP: 40269-9990 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: VANGUARD GROUP INC CENTRAL INDEX KEY: 0000102909 ORGANIZATION NAME: IRS NUMBER: 231945930 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482-2600 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482-2600 SC 13G/A 1 tv01651-papajohnsinternation.htm SCHEDULE 13G/A papajohnsinternationalinc SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Exchange Act of 1934 (Amendment No.: 10)* Name of issuer:  Papa John's International Inc Title of Class of Securities:  Common Stock CUSIP Number:  698813102 Date of Event Which Requires Filing of this Statement: December 29, 2023 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: ☒ 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 ("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). (Continued on the following page(s))     13G CUSIP No.:  698813102 1.  NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON The Vanguard Group - 23-1945930 2.  CHECK THE APPROPRIATE [LINE] IF A MEMBER OF A GROUP A.  B.  X 3.  SEC USE ONLY 4.  CITIZENSHIP OF PLACE OF ORGANIZATION Pennsylvania (For questions 5-8, report the number of shares beneficially owned by each reporting person with:) 5.  SOLE VOTING POWER 0 6.  SHARED VOTING POWER 52,368 7.  SOLE DISPOSITIVE POWER 3,514,945 8.  SHARED DISPOSITIVE POWER 88,694 9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,603,639 10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES N/A 11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 11.00% 12.  TYPE OF REPORTING PERSON IA     SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Act of 1934 Item 1(a) - Name of Issuer: Papa John's International Inc Item 1(b) - Address of Issuer's Principal Executive Offices: 2002 Papa John's Boulevard Louisville, KY 40299-2367 Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930 Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355 Item 2(c) – Citizenship: Pennsylvania Item 2(d) - Title of Class of Securities: Common Stock Item 2(e) -