Brandes Investment (PZZA) holds 2.63M shares, 8.01% disclosed

Rhea-AI Filing Summary

Papa Johns International Inc. Schedule 13G shows Brandes Investment Partners, L.P. beneficially owned 2,633,585 common shares, equal to 8.01% of the class as of 03/31/2026. The filing reports shared voting power of 1,778,449 shares and shared dispositive power of 2,633,585 shares; the filer is identified as an IA (investment adviser). The form is signed by Glenn Carlson on 05/08/2026.

Insights

Institutional Ownership Analyst

Large passive holding disclosed: 2.63M shares (8.01%) as of 03/31/2026.

Brandes Investment Partners reports beneficial ownership of 2,633,585 shares with shared voting power of 1,778,449. The filing is a Schedule 13G entry identifying the filer as an IA (investment adviser), consistent with passive or investment-manager reporting.

Holder decisions will determine future activity; subsequent SEC reports would show changes in stake size or voting authority.

Regulatory Compliance Specialist

The Schedule 13G format and IA designation indicate reporting under passive/investment-manager rules.

As a Schedule 13G, this filing signals reliance on the fewer-disclosure pathway available to qualifying institutional investors. It lists CUSIP 698813102 and provides exact vote/dispositive counts.

Any change in ownership above reporting thresholds or a shift to active intent would require a different filing type; monitoring future SEC filings will show that transition if it occurs.

Key Figures

Reporting date: 03/31/2026 Beneficial ownership: 2,633,585 shares Percent of class: 8.01% +3 more

6 metrics

Reporting date 03/31/2026 Beneficial ownership as of this date

Beneficial ownership 2,633,585 shares Common Shares beneficially owned

Percent of class 8.01% Percent of common shares outstanding

Shared voting power 1,778,449 shares Shares with shared voting power

Shared dispositive power 2,633,585 shares Shares with shared dispositive power

CUSIP 698813102 Identifier for Papa Johns common shares

Key Terms

Schedule 13G, Beneficial ownership, Shared dispositive power, IA

4 terms

Schedule 13G regulatory

"Item 1. (a) Name of issuer: PAPA JOHNS INTERNATIONAL INC"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

Beneficial ownership financial

"Item 4. (a) Amount beneficially owned: 2,633,585"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Shared dispositive power regulatory

"Item 4. (c)(iv) Shared power to dispose: 2,633,585"

IA regulatory

"8.0 % 12 IA,"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/14/2026 - 05:08 PM Learn about SEC filing dates

FAQ

What stake does Brandes Investment Partners hold in Papa Johns (PZZA)?

Brandes Investment Partners beneficially owned 2,633,585 common shares, representing 8.01% of the class as of 03/31/2026. The filing is on Schedule 13G and is signed on 05/08/2026.

Does Brandes have voting control over Papa Johns shares?

The filer reports shared voting power of 1,778,449 shares and sole voting power of 0. Voting authority is reported as shared, not sole, in the disclosed position.

What does the "IA" designation mean on this Schedule 13G?

The filing lists the filer as an IA (investment adviser), indicating they reported under institutional/investment-manager rules for passive holdings rather than as an activist or beneficial owner with active intent.

What are the dispositive powers reported by Brandes for PZZA shares?

Brandes reports shared dispositive power of 2,633,585 shares and sole dispositive power of 0, indicating shared authority to direct disposition of the reported shares.

Which CUSIP and class are covered in this filing?

The filing covers Papa Johns Common Shares with CUSIP 698813102, as stated in the Schedule 13G excerpt.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

PAPA JOHNS INTERNATIONAL INC

(Name of Issuer)

Common Shares

(Title of Class of Securities)

698813102

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 698813102

1

Names of Reporting Persons

BRANDES INVESTMENT PARTNERS, LP

2

Check the appropriate box if a member of a Group (see instructions)

(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 0.00
6	Shared Voting Power 1,778,449.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,633,585.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,633,585.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

8.0 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: PAPA JOHNS INTERNATIONAL INC
(b)	Address of issuer's principal executive offices: 2002 PAPA JOHNS BOULEVARD, LOUISVILLE, KENTUCKY, 40299-2334.
Item 2.
(a)	Name of person filing: Brandes Investment Partners, L.P.
(b)	Address or principal business office or, if none, residence: 4275 Executive Square, 5th Floor, La Jolla, CA 92037
(c)	Citizenship: Delaware
(d)	Title of class of securities: Common Shares
(e)	CUSIP Number(s): 698813102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-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 § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations 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)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 2,633,585
(b)	Percent of class: 8.01%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 1,778,449
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 2,633,585
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BRANDES INVESTMENT PARTNERS, LP

Signature:	/s/ Glenn Carlson
Name/Title:	Executive Director
Date:	05/08/2026