IBM Retirement Fund reduced its position in shares of Panera Bread Company (NASDAQ:PNRA) by 7.3% during the third quarter, Holdings Channel reports. The fund owned 2,092 shares of the company’s stock after selling 164 shares during the period. IBM Retirement Fund’s holdings in Panera Bread Company were worth $407,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. LS Investment Advisors LLC raised its position in Panera Bread Company by 63.3% in the second quarter. LS Investment Advisors LLC now owns 1,396 shares of the company’s stock valued at $296,000 after buying an additional 541 shares in the last quarter. Old Mutual Global Investors UK Ltd. bought a new position in Panera Bread Company during the second quarter valued at about $16,185,000. Daiwa Securities Group Inc. raised its position in Panera Bread Company by 46.0% in the second quarter. Daiwa Securities Group Inc. now owns 7,300 shares of the company’s stock valued at $1,547,000 after buying an additional 2,300 shares in the last quarter. Bank of Montreal Can bought a new position in Panera Bread Company during the second quarter valued at about $5,439,000. Finally, Calamos Advisors LLC bought a new position in Panera Bread Company during the second quarter valued at about $28,251,000. Institutional investors and hedge funds own 94.10% of the company’s stock.
Panera Bread Company (NASDAQ:PNRA) traded up 0.78% on Wednesday, hitting $213.15. The company’s stock had a trading volume of 274,859 shares. The firm has a 50 day moving average of $211.40 and a 200-day moving average of $207.33. Panera Bread Company has a 12 month low of $178.99 and a 12 month high of $224.15. The stock has a market cap of $4.96 billion, a PE ratio of 35.44 and a beta of 0.33.
Panera Bread Company (NASDAQ:PNRA) last released its quarterly earnings results on Tuesday, October 25th. The company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.03. Panera Bread Company had a return on equity of 39.44% and a net margin of 5.24%. The firm had revenue of $684.20 million for the quarter, compared to analyst estimates of $682.04 million. During the same quarter in the previous year, the company posted $1.32 EPS. The business’s revenue was up 2.9% on a year-over-year basis. On average, analysts expect that Panera Bread Company will post $6.70 earnings per share for the current fiscal year.
Several brokerages have recently commented on PNRA. Wedbush cut Panera Bread Company from an “outperform” rating to a “neutral” rating and set a $220.00 target price on the stock. in a report on Monday, November 28th. They noted that the move was a valuation call. Zacks Investment Research upgraded Panera Bread Company from a “sell” rating to a “hold” rating in a report on Thursday, October 27th. Vetr cut Panera Bread Company from a “strong-buy” rating to a “buy” rating and set a $243.51 target price on the stock. in a report on Thursday, November 24th. Canaccord Genuity restated a “buy” rating and set a $255.00 target price on shares of Panera Bread Company in a report on Friday, December 9th. Finally, Maxim Group increased their target price on Panera Bread Company from $230.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, September 29th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and nineteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $232.38.
In other Panera Bread Company news, SVP Scott G. Blair sold 204 shares of the company’s stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $186.00, for a total value of $37,944.00. Following the sale, the senior vice president now owns 5,752 shares in the company, valued at approximately $1,069,872. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.96% of the stock is owned by company insiders.
About Panera Bread Company
Panera Bread Company (Panera) is a food service provider. Panera is a national bakery-cafe concept with approximately 1,970 Company-owned and franchise-operated bakery-cafe locations in over 45 states, the District of Columbia, and Ontario, Canada. The Company operates through three segments: Company Bakery-Cafe Operations, Franchise Operations, and Fresh Dough and Other Product Operations.
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