The Panera Bread Co (NASDAQ:PNRA) Stake Cut by Skylands Capital LLC

The Panera Bread Co (NASDAQ:PNRA) Stake Cut by Skylands Capital LLC

A number of other large investors have also modified their holdings of PNRA. Narwhal Capital Management purchased a new position in Panera Bread during the first quarter worth $404,000. Shell Asset Management Co. acquired a new position in Panera Bread during the first quarter valued at about $570,000. Janney Montgomery Scott LLC raised its position in Panera Bread by 25.3% in the first quarter. Janney Montgomery Scott LLC now owns 17,526 shares of the company’s stock valued at $4,590,000 after buying an additional 3,535 shares during the period. Chickasaw Capital Management LLC acquired a new position in Panera Bread during the first quarter valued at about $209,000. Finally, Retirement Systems of Alabama boosted its stake in shares of Panera Bread by 6.4% in the first quarter. Retirement Systems of Alabama now owns 65,952 shares of the company’s stock valued at $17,271,000 after buying an additional 3,958 shares in the last quarter. Hedge funds and other institutional investors own 96.66% of the company’s stock.

Skylands Capital LLC cut its position in Panera Bread Co (NASDAQ:PNRA) by 62.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,125 shares of the company’s stock after selling 8,350 shares during the period. Skylands Capital LLC’s holdings in Panera Bread were worth $1,613,000 at the end of the most recent reporting period.

PNRA has been the topic of several research analyst reports. Zacks Investment Research cut shares of Panera Bread from a “buy” rating to a “hold” rating in a research note on Thursday, April 20th. BidaskClub cut shares of Panera Bread from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Maxim Group reissued a “hold” rating and set a $315.00 price target on shares of Panera Bread in a research note on Tuesday, April 11th. William Blair cut shares of Panera Bread from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 5th. Finally, Royal Bank Of Canada cut shares of Panera Bread from an “outperform” rating to a “sector perform” rating and increased their price target for the company from $255.00 to $315.00 in a research note on Thursday, April 6th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have given a buy rating to the stock. Panera Bread has an average rating of “Hold” and a consensus target price of $278.35.

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.

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