First Trust Advisors LP Purchase New Holding in Panera Bread Co (PNRA)

First Trust Advisors LP Purchase New Holding in Panera Bread Co (PNRA)

First Trust Advisors LP acquired a new position in Panera Bread Co (NASDAQ:PNRA) during the first quarter, Holdings Channel reports. The firm acquired 13,499 shares of the company’s stock, valued at approximately $3,535,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Comerica Bank raised its position in shares of Panera Bread by 1.7% in the fourth quarter. Comerica Bank now owns 20,994 shares of the company’s stock worth $4,479,000 after buying an additional 359 shares in the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Panera Bread by 4.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 34,535 shares of the company’s stock worth $7,083,000 after buying an additional 1,518 shares in the last quarter. Commerzbank Aktiengesellschaft FI acquired a new position in shares of Panera Bread during the fourth quarter worth $208,000. Cavalier Investments LLC raised its position in shares of Panera Bread by 4.8% in the fourth quarter. Cavalier Investments LLC now owns 1,095 shares of the company’s stock worth $225,000 after buying an additional 50 shares in the last quarter. Finally, Radnor Capital Management LLC acquired a new position in shares of Panera Bread during the fourth quarter worth $441,000. 93.32% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Panera Bread Co (NASDAQ PNRA) opened at 314.17 on Tuesday. The company’s 50 day moving average price is $313.60 and its 200-day moving average price is $251.50. The firm has a market cap of $7.07 billion, a price-to-earnings ratio of 47.56 and a beta of 0.31. Panera Bread Co has a 1-year low of $185.69 and a 1-year high of $316.21.

Panera Bread (NASDAQ:PNRA) last issued its earnings results on Tuesday, April 25th. The company reported $1.83 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.84 by $0.01. The company had revenue of $727.60 million during the quarter, compared to analyst estimates of $717.36 million. Panera Bread had a return on equity of 59.38% and a net margin of 5.80%. The business’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.56 earnings per share. Equities analysts expect that Panera Bread Co will post $7.71 EPS for the current fiscal year.

A number of research analysts recently weighed in on the company. Zacks Investment Research lowered Panera Bread from a “buy” rating to a “hold” rating in a report on Thursday, April 20th. Canaccord Genuity lowered Panera Bread from a “buy” rating to a “hold” rating and set a $315.00 price objective on the stock. in a report on Wednesday, April 26th. Maxim Group reaffirmed a “hold” rating and set a $315.00 price objective on shares of Panera Bread in a report on Tuesday, April 11th. BMO Capital Markets upped their price objective on Panera Bread from $210.00 to $270.00 and gave the stock a “market perform” rating in a report on Thursday, April 6th. Finally, Telsey Advisory Group lowered Panera Bread from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $270.00 to $315.00 in a report on Thursday, April 6th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $274.02.

Panera Bread Company Profile

Panera Bread Company is a food service company. The Company is a national bakery-cafe concept. As of December 27, 2016, the Company operated 2,036 own and franchise-operated bakery-cafe locations in 46 states, the District of Columbia, and Ontario, Canada. It operates through three segments: Company bakery-cafe operations, franchise operations, and fresh dough and other product operations.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:PNRA”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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