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Major US bank halves stake in Papa John's

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A longtime major Papa John's International Inc. shareholder drastically reduced its stake in the pizza chain.

JPMorgan Chase & Co. (NYSE: JPM) dropped its stake by more than half, according to a U.S. Securities and Exchange Commission filing.

JPMorgan nows owns 765,736 shares in Papa John's, down from nearly 1.8 million.

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