Whittier Trust Co. of Nevada Inc. held its stake in shares of Panera Bread Co. (NASDAQ:PNRA) during the second quarter, Holdings Channel reports. The firm owned 1,000 shares of the company’s stock at the end of the second quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Panera Bread were worth $212,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of PNRA. Renaissance Technologies LLC boosted its stake in shares of Panera Bread by 16.6% in the first quarter. Renaissance Technologies LLC now owns 270,392 shares of the company’s stock worth $55,384,000 after buying an additional 38,592 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Panera Bread by 1.7% in the first quarter. Geode Capital Management LLC now owns 147,463 shares of the company’s stock worth $30,204,000 after buying an additional 2,436 shares in the last quarter. Calamos Advisors LLC bought a new stake in shares of Panera Bread during the second quarter worth $28,251,000. Old Mutual Global Investors UK Ltd. bought a new stake in shares of Panera Bread during the second quarter worth $16,185,000. Finally, Hancock Holding Co. bought a new stake in shares of Panera Bread during the first quarter worth $13,419,000. Institutional investors and hedge funds own 92.95% of the company’s stock.
Shares of Panera Bread Co. (NASDAQ:PNRA) traded up 0.84% on Wednesday, hitting $190.37. The stock had a trading volume of 318,678 shares. Panera Bread Co. has a 52 week low of $165.17 and a 52 week high of $224.15. The stock’s 50-day moving average price is $203.85 and its 200 day moving average price is $210.97. The company has a market cap of $4.49 billion, a PE ratio of 32.22 and a beta of 0.66.
Panera Bread (NASDAQ:PNRA) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $1.78 earnings per share (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 return on equity of 34.45% and a net margin of 5.30%. Panera Bread’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the company earned $1.61 earnings per share. On average, analysts predict that Panera Bread Co. will post $6.69 EPS for the current year.
A number of equities research analysts recently weighed in on PNRA shares. Royal Bank Of Canada started 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. Vetr upgraded shares of Panera Bread from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. Robert W. Baird reiterated an “outperform” rating on shares of Panera Bread in a research report on Thursday, September 8th. BTIG Research set a $240.00 price target on shares of Panera Bread and gave the stock a “buy” rating in a research report on Wednesday, July 27th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $210.00 price target (up from $205.00) on shares of Panera Bread in a research report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $230.89.
In related news, SVP Scott G. Blair sold 228 shares of the stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark D. Wooldridge sold 164 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $222.18, for a total value of $36,437.52. Following 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. Corporate insiders own 6.96% of the company’s stock.
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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