First Trust Advisors LP increased its stake in Panera Bread Co (NASDAQ:PNRA) by 35.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,333 shares of the company’s stock after buying an additional 4,834 shares during the period. First Trust Advisors LP’s holdings in Panera Bread were worth $5,768,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PNRA. JPMorgan Chase & Co. raised its position in shares of Panera Bread by 140.4% in the first quarter. JPMorgan Chase & Co. now owns 46,526 shares of the company’s stock valued at $12,184,000 after buying an additional 27,171 shares during the period. Investment House LLC raised its position in shares of Panera Bread by 1,016.0% in the first quarter. Investment House LLC now owns 16,628 shares of the company’s stock valued at $4,354,000 after buying an additional 15,138 shares during the period. State Treasurer State of Michigan raised its position in shares of Panera Bread by 1.1% in the second quarter. State Treasurer State of Michigan now owns 8,800 shares of the company’s stock valued at $2,769,000 after buying an additional 100 shares during the period. UBS Group AG raised its position in shares of Panera Bread by 116.2% in the first quarter. UBS Group AG now owns 45,877 shares of the company’s stock valued at $12,013,000 after buying an additional 24,657 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Panera Bread by 5.9% in the first quarter. Ameriprise Financial Inc. now owns 119,368 shares of the company’s stock valued at $31,259,000 after buying an additional 6,627 shares during the period. 96.66% of the stock is owned by institutional investors.

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PNRA has been the subject of several recent research reports. Zacks Investment Research raised shares of Panera Bread from a “hold” rating to a “buy” rating and set a $352.00 price objective for the company in a research note on Tuesday, July 4th. BidaskClub raised shares of Panera Bread from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Panera Bread in a research note on Monday, July 3rd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $279.27.

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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Institutional Ownership by Quarter for Panera Bread (NASDAQ:PNRA)

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