Cadence Bank Reduces Papa John's International Stake

Hedge fund decreases holdings in pizza chain by nearly 50%

Mar. 14, 2026 at 7:36am

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Cadence Bank, a financial services firm, decreased its holdings in Papa John's International, Inc. (NASDAQ:PZZA) by 49.5% during the third quarter of 2025, according to a recent SEC filing. The bank now owns 56,255 shares of the company's stock, down from 111,378 shares previously.

Why it matters

This reduction in Cadence Bank's Papa John's stake could signal a shift in investor sentiment towards the pizza chain, which has faced challenges in recent years including declining sales and public relations issues. The move also highlights the volatility in Papa John's stock price, which has fluctuated significantly over the past 12 months.

The details

According to the SEC filing, Cadence Bank sold 55,123 shares of Papa John's during the third quarter, reducing its overall position by nearly half. The bank now owns approximately 0.17% of the company's outstanding shares, down from 0.34% previously. The filing did not provide specific reasons for the portfolio change.

  • Cadence Bank decreased its Papa John's holdings during the 3rd quarter of 2025.

The players

Cadence Bank

A financial services firm that previously held a sizable stake in Papa John's International.

Papa John's International, Inc.

A major American pizza restaurant chain known for its focus on high-quality ingredients.

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The takeaway

The reduction in Cadence Bank's Papa John's holdings suggests that some investors may be growing more cautious about the pizza chain's long-term prospects, despite recent efforts to turnaround the business. This move highlights the ongoing challenges facing Papa John's as it works to regain customer trust and improve its financial performance.