After I started covering the fast food and dining sector, I found that quite a few companies in it are overvalued and show mediocre financial results. Myrecent article on Red Robin Gourmet Burgers (NASDAQ:RRGB) is an example of that. I also learned that my opinion on these stocks is completely different from the grades that analysts from major banks and brokerage companies give them. Perhaps one of the reasons is that I look for stocks that offer good margins of safety. Many companies that I have analyzed so far simply do not fit the category. I also believe that using your own required rate of return instead of the market's is a good way to build a portfolio of stocks tailored to your needs. Papa John's International (NASDAQ:PZZA) also is one of the stocks that currently has a buy rating from the majority of analysts. The company has been shareholder-friendly in the past three years: buybacks totaled $342M, and the company paid over $30M in dividends since it started doing that in 2013. As a result, the total number of shares outstanding decreased by 20%-plus since 2010 to 39.9M shares. This sounds great, but there are two reasons why this shareholder-friendly behavior is nothing more than a balance sheet reshuffling. Read more