Northern Trust Corp increased its stake in shares of Panera Bread Co. (NASDAQ:PNRA) by 0.6% during the third quarter, Holdings Channel reports. The institutional investor owned 340,173 shares of the company’s stock after buying an additional 1,889 shares during the period. Northern Trust Corp owned about 1.46% of Panera Bread worth $66,238,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of PNRA. Krilogy Financial LLC increased its position in shares of Panera Bread by 8.6% in the second quarter. Krilogy Financial LLC now owns 630 shares of the company’s stock worth $134,000 after buying an additional 50 shares during the period. IFP Advisors Inc increased its position in shares of Panera Bread by 8.6% in the second quarter. IFP Advisors Inc now owns 745 shares of the company’s stock worth $158,000 after buying an additional 59 shares during the period. Tower Research Capital LLC TRC increased its position in shares of Panera Bread by 17.9% in the second quarter. Tower Research Capital LLC TRC now owns 849 shares of the company’s stock worth $179,000 after buying an additional 129 shares during the period. Tocqueville Asset Management L.P. acquired a new position in shares of Panera Bread during the second quarter worth approximately $205,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Panera Bread by 10.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 994 shares of the company’s stock worth $211,000 after buying an additional 94 shares during the period. 94.10% of the stock is owned by hedge funds and other institutional investors.
Panera Bread Co. (NASDAQ:PNRA) opened at 213.15 on Thursday. The firm has a market cap of $4.96 billion, a P/E ratio of 35.44 and a beta of 0.33. Panera Bread Co. has a 52-week low of $178.99 and a 52-week high of $224.15. The company’s 50 day moving average is $211.40 and its 200 day moving average is $207.33.
Panera Bread (NASDAQ:PNRA) last issued its quarterly earnings data on Tuesday, October 25th. The company reported $1.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.03. Panera Bread had a net margin of 5.24% and a return on equity of 39.44%. The company had revenue of $684.20 million for the quarter, compared to the consensus estimate of $682.04 million. During the same period last year, the firm posted $1.32 EPS. Panera Bread’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities research analysts forecast that Panera Bread Co. will post $6.70 EPS for the current fiscal year.
PNRA has been the subject of a number of recent research reports. Longbow Research raised shares of Panera Bread from a “neutral” rating to a “buy” rating and set a $239.00 price objective for the company in a research note on Monday, October 10th. Canaccord Genuity reissued a “buy” rating and issued a $255.00 price objective on shares of Panera Bread in a research note on Friday, December 9th. Maxim Group boosted their price objective on shares of Panera Bread from $230.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, September 29th. RBC Capital Markets set a $250.00 price target on shares of Panera Bread and gave the stock a “buy” rating in a report on Friday, October 21st. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $250.00 price target on shares of Panera Bread in a report on Wednesday, December 7th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $232.38.
In other Panera Bread news, SVP Scott G. Blair sold 204 shares of the firm’s stock in a transaction on Wednesday, November 9th. The shares were sold at an average price of $186.00, for a total transaction of $37,944.00. Following the transaction, the senior vice president now directly owns 5,752 shares of the company’s stock, valued at approximately $1,069,872. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.96% of the company’s stock.
About Panera Bread
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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