Vetr upgraded shares of Panera Bread Co (NASDAQ:PNRA) from a buy rating to a strong-buy rating in a research note released on Monday morning. The brokerage currently has $226.25 target price on the stock.
Several other research firms have also weighed in on PNRA. Royal Bank Of Canada initiated coverage on shares of Panera Bread in a research note on Wednesday, July 20th. They set an outperform rating and a $250.00 price objective on the stock. Robert W. Baird restated an outperform rating on shares of Panera Bread in a research note on Thursday, September 8th. BTIG Research set a $240.00 price objective on shares of Panera Bread and gave the stock a buy rating in a research note on Wednesday, July 27th. BMO Capital Markets restated a market perform rating and set a $210.00 price objective (up from $205.00) on shares of Panera Bread in a research note on Thursday, July 28th. Finally, Sanford C. Bernstein began coverage on shares of Panera Bread in a report on Thursday, May 26th. They set an outperform rating for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty have assigned a buy rating to the stock. Panera Bread has an average rating of Buy and a consensus target price of $229.61.
Panera Bread (NASDAQ:PNRA) opened at 198.34 on Monday. Panera Bread has a 52-week low of $165.17 and a 52-week high of $224.15. The company has a 50-day moving average of $213.48 and a 200 day moving average of $212.49. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of 33.57 and a beta of 0.71.
Panera Bread (NASDAQ:PNRA) last released its quarterly earnings data on Tuesday, July 26th. The company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.04. The company had revenue of $698.90 million for the quarter, compared to analyst estimates of $696.46 million. Panera Bread had a net margin of 5.30% and a return on equity of 34.45%. Panera Bread’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.61 EPS. On average, equities research analysts anticipate that Panera Bread will post $6.69 EPS for the current year.
In other news, SVP Scott G. Blair sold 306 shares of the company’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $221.38, for a total value of $67,742.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Mark D. Wooldridge sold 164 shares of the company’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $222.18, for a total transaction of $36,437.52. Following the completion of the sale, the insider now directly owns 1,461 shares in the company, valued at $324,604.98. The disclosure for this sale can be found here. 6.96% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the stock. Columbus Circle Investors raised its stake in Panera Bread by 985.5% in the second quarter. Columbus Circle Investors now owns 409,650 shares of the company’s stock worth $86,821,000 after buying an additional 371,910 shares in the last quarter. Alliancebernstein L.P. raised its stake in Panera Bread by 2,177.7% in the second quarter. Alliancebernstein L.P. now owns 384,637 shares of the company’s stock worth $81,520,000 after buying an additional 367,750 shares in the last quarter. Conatus Capital Management LP purchased a new stake in Panera Bread during the second quarter worth approximately $76,922,000. Bank of New York Mellon Corp raised its stake in Panera Bread by 75.0% in the second quarter. Bank of New York Mellon Corp now owns 721,181 shares of the company’s stock worth $152,846,000 after buying an additional 309,133 shares in the last quarter. Finally, FMR LLC raised its stake in Panera Bread by 40.0% in the second quarter. FMR LLC now owns 1,003,927 shares of the company’s stock worth $212,772,000 after buying an additional 286,619 shares in the last quarter. 92.95% of the stock is currently owned by institutional investors.
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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