IndexIQ Advisors LLC Buys Shares of 36,437 Panera Bread Co (PNRA)
IndexIQ Advisors LLC bought a new stake in Panera Bread Co (NASDAQ:PNRA) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 36,437 shares of the company’s stock, valued at approximately $11,465,000.
Several other institutional investors also recently bought and sold shares of the company. Coconut Grove Bank increased its position in Panera Bread by 94.7% in the first quarter. Coconut Grove Bank now owns 555 shares of the company’s stock valued at $145,000 after buying an additional 270 shares during the period. FNY Managed Accounts LLC bought a new position in Panera Bread during the first quarter valued at approximately $156,000. Intrust Bank NA bought a new position in Panera Bread during the first quarter valued at approximately $205,000. United Capital Financial Advisers LLC bought a new position in Panera Bread during the first quarter valued at approximately $206,000. Finally, YHB Investment Advisors Inc. bought a new position in Panera Bread during the first quarter valued at approximately $208,000. Institutional investors and hedge funds own 96.66% of the company’s stock.
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Several equities analysts recently commented on the company. Sanford C. Bernstein restated an “outperform” rating on shares of Panera Bread in a research report on Monday, July 3rd. Zacks Investment Research upgraded Panera Bread from a “hold” rating to a “buy” rating and set a $352.00 target price for the company in a research report on Tuesday, July 4th. Finally, BidaskClub upgraded Panera Bread from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $279.27.
Panera Bread Company Profile
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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