Principal Financial Group Inc. increased its stake in shares of Panera Bread Co. (NASDAQ:PNRA) by 17.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 91,271 shares of the company’s stock after buying an additional 13,463 shares during the period. Principal Financial Group Inc. owned approximately 0.39% of Panera Bread worth $19,344,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. IFP Advisors Inc increased its position in shares of Panera Bread by 3.6% in the first quarter. IFP Advisors Inc now owns 686 shares of the company’s stock valued at $141,000 after buying an additional 24 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new position in shares of Panera Bread during the first quarter valued at approximately $177,000. Rockefeller Financial Services Inc. bought a new position in shares of Panera Bread during the second quarter valued at approximately $196,000. BlueMountain Capital Management LLC bought a new position in shares of Panera Bread during the first quarter valued at approximately $204,000. Finally, Connable Office Inc. bought a new position in shares of Panera Bread during the first quarter valued at approximately $205,000. 92.95% of the stock is owned by institutional investors and hedge funds.
Panera Bread Co. (NASDAQ:PNRA) opened at 194.72 on Friday. The company has a market cap of $4.59 billion, a PE ratio of 32.96 and a beta of 0.71. Panera Bread Co. has a 52 week low of $165.17 and a 52 week high of $224.15. The stock has a 50 day moving average of $209.35 and a 200 day moving average of $211.80.
Panera Bread (NASDAQ:PNRA) last announced 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 the consensus estimate of $696.46 million. Panera Bread had a net margin of 5.30% and a return on equity of 34.45%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.61 earnings per share. Equities research analysts predict that Panera Bread Co. will post $6.69 EPS for the current fiscal year.
Several brokerages recently commented on PNRA. Piper Jaffray Cos. reissued an “overweight” rating and issued a $237.00 price objective on shares of Panera Bread in a research note on Tuesday, July 12th. Vetr raised shares of Panera Bread from a “hold” rating to a “strong-buy” rating and set a $250.00 price objective for the company in a research note on Wednesday, July 20th. Maxim Group reaffirmed a “buy” rating and set a $230.00 price target (down previously from $238.00) on shares of Panera Bread in a research note on Monday, July 18th. Cowen and Company set a $240.00 price target on shares of Panera Bread and gave the company a “buy” rating in a research note on Thursday, August 11th. Finally, Credit Suisse Group AG raised their price target on shares of Panera Bread from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nineteen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $230.52.
In other Panera Bread news, SVP Scott G. Blair sold 202 shares of the business’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $217.95, for a total value of $44,025.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark D. Wooldridge sold 164 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $222.18, for a total transaction of $36,437.52. Following the completion of the transaction, the insider now owns 1,461 shares of the company’s stock, valued at $324,604.98. The disclosure for this sale can be found here. 6.96% of the stock is currently owned by company insiders.
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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