Vetr cut shares of Panera Bread Co. (NASDAQ:PNRA) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday morning. They currently have $202.50 target price on the stock.

Analyst Recommendations for Panera Bread (NASDAQ:PNRA)

Other analysts also recently issued reports about the company. RBC Capital Markets began coverage on Panera Bread in a research report on Wednesday, July 20th. They set an outperform rating and a $250.00 price objective for the company. Sanford C. Bernstein began coverage on Panera Bread in a research report on Thursday, May 26th. They set an outperform rating for the company. Robert W. Baird reissued an outperform rating on shares of Panera Bread in a research report on Thursday, September 8th. Royal Bank Of Canada began coverage on Panera Bread in a research report on Wednesday, July 20th. They set an outperform rating and a $250.00 price objective for the company. Finally, Stifel Nicolaus downgraded Panera Bread from a hold rating to a sell rating and set a $175.00 price objective for the company. in a research report on Tuesday, July 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the company. The company has an average rating of Buy and an average price target of $229.61.

Panera Bread (NASDAQ:PNRA) opened at 197.68 on Wednesday. The stock has a 50 day moving average of $213.96 and a 200 day moving average of $212.59. Panera Bread has a 12-month low of $165.17 and a 12-month high of $224.15. The stock has a market cap of $4.66 billion, a P/E ratio of 33.46 and a beta of 0.71.

Panera Bread (NASDAQ:PNRA) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.74 by $0.04. Panera Bread had a return on equity of 34.45% and a net margin of 5.30%. The business had revenue of $698.90 million for the quarter, compared to analyst estimates of $696.46 million. During the same quarter in the previous year, the firm earned $1.61 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts anticipate that Panera Bread will post $6.69 earnings per share for the current fiscal year.

In related news, SVP Scott G. Blair sold 228 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $218.24, for a total transaction of $49,758.72. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mark D. Wooldridge sold 164 shares of the company’s stock in a transaction on 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 directly owns 1,461 shares in the company, valued at approximately $324,604.98. The disclosure for this sale can be found here. 6.96% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Palisade Capital Management LLC NJ acquired a new position in shares of Panera Bread during the first quarter worth $2,825,000. JPMorgan Chase & Co. raised its position in shares of Panera Bread by 164.5% in the first quarter. JPMorgan Chase & Co. now owns 63,670 shares of the company’s stock worth $13,043,000 after buying an additional 39,596 shares in the last quarter. BlackRock Group LTD raised its position in shares of Panera Bread by 22.5% in the first quarter. BlackRock Group LTD now owns 20,948 shares of the company’s stock worth $4,292,000 after buying an additional 3,844 shares in the last quarter. BlackRock Inc. raised its position in shares of Panera Bread by 19.2% in the first quarter. BlackRock Inc. now owns 10,499 shares of the company’s stock worth $2,150,000 after buying an additional 1,690 shares in the last quarter. Finally, Connable Office Inc. acquired a new position in shares of Panera Bread during the first quarter worth $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.

5 Day Chart for NASDAQ:PNRA

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