BlackRock Inc. Increases Holdings in BJ’s Restaurants, Inc. (BJRI)
BlackRock Inc. raised its stake in BJ’s Restaurants, Inc. (NASDAQ:BJRI) by 10.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,168,825 shares of the restaurant operator’s stock after buying an additional 292,172 shares during the quarter. BlackRock Inc. owned about 15.08% of BJ’s Restaurants worth $190,129,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Martingale Asset Management L P increased its holdings in BJ’s Restaurants by 2.1% during the second quarter. Martingale Asset Management L P now owns 38,614 shares of the restaurant operator’s stock worth $2,317,000 after buying an additional 802 shares during the last quarter. Swiss National Bank increased its holdings in BJ’s Restaurants by 13.0% during the second quarter. Swiss National Bank now owns 35,700 shares of the restaurant operator’s stock worth $2,142,000 after buying an additional 4,100 shares during the last quarter. Spark Investment Management LLC acquired a new position in BJ’s Restaurants during the second quarter worth $1,044,000. Schwab Charles Investment Management Inc. increased its holdings in BJ’s Restaurants by 8.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 198,750 shares of the restaurant operator’s stock worth $11,925,000 after buying an additional 14,752 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of BJ’s Restaurants by 261.6% in the second quarter. Canada Pension Plan Investment Board now owns 64,000 shares of the restaurant operator’s stock valued at $3,840,000 after purchasing an additional 46,300 shares during the last quarter. 95.27% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:BJRI opened at $69.35 on Tuesday. BJ’s Restaurants, Inc. has a one year low of $29.40 and a one year high of $76.50. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 49.18, a P/E/G ratio of 2.15 and a beta of 0.73. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.36 and a current ratio of 0.44.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 27th. Investors of record on Monday, August 13th were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, August 10th. This represents a $0.44 annualized dividend and a dividend yield of 0.63%. BJ’s Restaurants’s dividend payout ratio (DPR) is presently 31.21%.
In related news, insider Alex Puchner sold 3,907 shares of the company’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $62.63, for a total value of $244,695.41. Following the transaction, the insider now directly owns 4,480 shares in the company, valued at $280,582.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Lon Ledwith sold 11,211 shares of the company’s stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $75.44, for a total transaction of $845,757.84. Following the completion of the transaction, the vice president now owns 10,913 shares in the company, valued at $823,276.72. The disclosure for this sale can be found here. Insiders sold 301,614 shares of company stock worth $21,777,152 over the last 90 days. 6.80% of the stock is currently owned by corporate insiders.
Several equities analysts have commented on the stock. BidaskClub downgraded shares of BJ’s Restaurants from a “strong-buy” rating to a “buy” rating in a report on Saturday. Zacks Investment Research downgraded shares of BJ’s Restaurants from a “strong-buy” rating to a “hold” rating in a report on Monday, September 17th. Maxim Group assumed coverage on shares of BJ’s Restaurants in a report on Wednesday, August 22nd. They issued a “buy” rating and a $81.00 price objective on the stock. ValuEngine upgraded shares of BJ’s Restaurants from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 28th. Finally, Wedbush upped their price objective on shares of BJ’s Restaurants from $66.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, July 27th. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. BJ’s Restaurants currently has an average rating of “Buy” and a consensus target price of $59.58.
About BJ’s Restaurants
BJ's Restaurants, Inc owns and operates casual dining restaurants in the United States. Its restaurants offer pizzas, craft and other beers, appetizers, entrées, pastas, sandwiches, specialty salads, and desserts. As of September 4, 2018, the company owned and operated 201 casual dining restaurants located in the 27 states of Alabama, Arizona, Arkansas, California, Colorado, Florida, Indiana, Kansas, Kentucky, Louisiana, Maryland, Michigan, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Rhode Island, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and Washington.
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