Wedbush restated their outperform rating on shares of Panera Bread Co. (NASDAQ:PNRA) in a research report released on Saturday. The brokerage currently has a $220.00 price objective on the stock, down from their previous price objective of $250.00.
PNRA has been the subject of a number of other research reports. Longbow Research raised Panera Bread from a neutral rating to a buy rating and set a $239.00 target price for the company in a report on Monday, October 10th. Vetr lowered Panera Bread from a buy rating to a hold rating and set a $226.25 target price for the company. in a report on Tuesday, August 23rd. Maxim Group lifted their target price on Panera Bread from $230.00 to $250.00 and gave the stock a buy rating in a report on Thursday, September 29th. Robert W. Baird reissued an outperform rating on shares of Panera Bread in a report on Thursday, September 8th. Finally, RBC Capital Markets initiated coverage on Panera Bread in a report on Wednesday, July 20th. They issued an outperform rating and a $250.00 target price for the company. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twenty have issued a buy rating to the company. Panera Bread has a consensus rating of Buy and a consensus price target of $229.59.
Shares of Panera Bread (NASDAQ:PNRA) traded up 0.26% during mid-day trading on Friday, reaching $191.31. The company had a trading volume of 383,860 shares. The stock has a market capitalization of $4.51 billion, a P/E ratio of 32.38 and a beta of 0.66. Panera Bread has a one year low of $165.17 and a one year high of $224.15. The firm has a 50 day moving average of $201.57 and a 200-day moving average of $210.58.
Panera Bread (NASDAQ:PNRA) last posted its earnings results on Tuesday, July 26th. The company reported $1.78 EPS for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.04. The business earned $698.90 million during the quarter, compared to analyst estimates of $696.46 million. Panera Bread had a return on equity of 34.45% and a net margin of 5.30%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.61 EPS. Analysts forecast that Panera Bread will post $6.69 EPS for the current fiscal year.
In other news, SVP Scott G. Blair sold 228 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $218.24, for a total transaction of $49,758.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark D. Wooldridge sold 164 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $222.18, for a total value of $36,437.52. Following the transaction, the insider now directly owns 1,461 shares in the company, valued at approximately $324,604.98. The disclosure for this sale can be found here. Company insiders own 6.96% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Krilogy Financial LLC boosted its position in 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 in the last quarter. IFP Advisors Inc boosted its position in 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 in the last quarter. Tower Research Capital LLC TRC boosted its position in 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 in the last quarter. Rockefeller Financial Services Inc. acquired a new position in Panera Bread during the second quarter worth approximately $196,000. Finally, Tocqueville Asset Management L.P. acquired a new position in Panera Bread during the second quarter worth approximately $205,000. 92.95% of the stock is currently owned by hedge funds and other institutional investors.
Panera Bread Company Profile
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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