Emerald Acquisition Ltd. cut its stake in Panera Bread Co. (NASDAQ:PNRA) by 5.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,101 shares of the company’s stock after selling 8,646 shares during the period. Emerald Acquisition Ltd.’s holdings in Panera Bread were worth $27,861,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of PNRA. Moody Lynn & Lieberson LLC raised its stake in shares of Panera Bread by 1.2% in the second quarter. Moody Lynn & Lieberson LLC now owns 1,822 shares of the company’s stock valued at $386,000 after buying an additional 22 shares during the period. Chicago Equity Partners LLC acquired a new stake in shares of Panera Bread during the second quarter valued at $1,320,000. Concert Wealth Management Inc. acquired a new stake in shares of Panera Bread during the second quarter valued at $219,000. Montag & Caldwell LLC raised its stake in shares of Panera Bread by 15.1% in the second quarter. Montag & Caldwell LLC now owns 3,575 shares of the company’s stock valued at $757,000 after buying an additional 469 shares during the period. Finally, Capital Fund Management S.A. raised its stake in shares of Panera Bread by 563.3% in the second quarter. Capital Fund Management S.A. now owns 15,753 shares of the company’s stock valued at $3,339,000 after buying an additional 19,153 shares during the period. Institutional investors own 94.05% of the company’s stock.
Shares of Panera Bread Co. (NASDAQ:PNRA) traded down 0.55% during mid-day trading on Wednesday, hitting $209.25. 50,245 shares of the stock were exchanged. The stock has a market capitalization of $4.87 billion, a P/E ratio of 34.79 and a beta of 0.34. The stock’s 50 day moving average price is $210.31 and its 200-day moving average price is $207.56. Panera Bread Co. has a 12-month low of $178.99 and a 12-month high of $224.15.
Panera Bread (NASDAQ:PNRA) last issued its earnings results on Tuesday, October 25th. The company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.03. Panera Bread 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 the consensus estimate of $682.04 million. During the same quarter in the prior year, the business earned $1.32 earnings per share. The company’s revenue was up 2.9% compared to the same quarter last year. On average, equities research analysts expect that Panera Bread Co. will post $6.71 EPS for the current fiscal year.
Several analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Panera Bread from a “hold” rating to a “sell” rating in a research report on Tuesday. Sanford C. Bernstein reiterated an “outperform” rating and set a $250.00 target price on shares of Panera Bread in a research report on Wednesday, December 7th. Canaccord Genuity reissued a “buy” rating and set a $255.00 price target on shares of Panera Bread in a report on Friday, December 9th. RBC Capital Markets set a $250.00 price target on shares of Panera Bread and gave the company a “buy” rating in a report on Friday, October 21st. Finally, Morgan Stanley reissued an “overweight” rating and set a $250.00 price target on shares of Panera Bread in a report on Thursday, October 27th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the company. Panera Bread currently has a consensus rating of “Buy” and a consensus target price of $232.04.
In other Panera Bread news, SVP Scott G. Blair sold 204 shares of the stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $186.00, for a total transaction of $37,944.00. Following the transaction, the senior vice president now owns 5,752 shares in the company, valued at $1,069,872. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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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