GLG Partners LP Invests $2 Million in Panera Bread Co (PNRA)
GLG Partners LP bought a new position in Panera Bread Co (NASDAQ:PNRA) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,350 shares of the company’s stock, valued at approximately $1,998,000.
Other large investors have also recently bought and sold shares of the company. FNY Managed Accounts LLC bought a new stake in shares of Panera Bread during the first quarter valued at approximately $156,000. BT Investment Management Ltd purchased a new position in Panera Bread in the 2nd quarter worth approximately $203,000. Forte Capital LLC ADV purchased a new position in Panera Bread in the 2nd quarter worth approximately $225,000. Northwestern Mutual Wealth Management Co. raised its holdings in Panera Bread by 7.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 715 shares of the company’s stock worth $225,000 after acquiring an additional 49 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in Panera Bread by 627.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 727 shares of the company’s stock worth $228,000 after acquiring an additional 627 shares during the last quarter. Hedge funds and other institutional investors own 96.66% of the company’s stock.
PNRA has been the subject of several recent analyst reports. Sanford C. Bernstein restated an “outperform” rating on shares of Panera Bread in a research note on Monday, July 3rd. Zacks Investment Research raised Panera Bread from a “hold” rating to a “buy” rating and set a $352.00 price objective on the stock in a research report on Tuesday, July 4th. Finally, BidaskClub raised Panera Bread from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the company’s stock. Panera Bread presently has a consensus rating of “Hold” and an average target price of $279.27.
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About Panera Bread
Panera Bread Company is a food service company. The Company is a national bakery-cafe concept. As of December 27, 2016, the Company operated 2,036 own and franchise-operated bakery-cafe locations in 46 states, the District of Columbia, and Ontario, Canada. It operates through three segments: Company bakery-cafe operations, franchise operations, and fresh dough and other product operations.
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