Panera Bread Company (NASDAQ:PNRA) Stake Increased by Bank of Montreal Can
Bank of Montreal Can raised its position in Panera Bread Company (NASDAQ:PNRA) by 336.7% during the second quarter, Holdings Channel reports. The firm owned 92,213 shares of the company’s stock after buying an additional 71,097 shares during the period. Bank of Montreal Can’s holdings in Panera Bread Company were worth $29,016,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the company. Credit Agricole S A raised its stake in Panera Bread Company by 10.9% in the fourth quarter. Credit Agricole S A now owns 1,028 shares of the company’s stock worth $211,000 after buying an additional 101 shares during the period. AQR Capital Management LLC raised its stake in Panera Bread Company by 10.4% in the fourth quarter. AQR Capital Management LLC now owns 27,171 shares of the company’s stock worth $5,573,000 after buying an additional 2,556 shares during the period. Thrivent Financial for Lutherans raised its stake in Panera Bread Company by 6.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 3,730 shares of the company’s stock worth $765,000 after buying an additional 220 shares during the period. Norges Bank acquired a new stake in Panera Bread Company during the fourth quarter worth $48,169,000. Finally, Teachers Advisors LLC raised its stake in Panera Bread Company by 28.1% in the fourth quarter. Teachers Advisors LLC now owns 24,478 shares of the company’s stock worth $5,020,000 after buying an additional 5,370 shares during the period. 96.66% of the stock is owned by institutional investors.
Panera Bread Company (PNRA) opened at 314.88 on Monday. The stock has a market capitalization of $7.08 billion, a price-to-earnings ratio of 47.67 and a beta of 0.25. The company has a 50 day moving average of $314.01 and a 200 day moving average of $263.79. Panera Bread Company has a 12 month low of $185.69 and a 12 month high of $316.21.
Panera Bread Company (NASDAQ:PNRA) last posted its earnings results on Tuesday, April 25th. The company reported $1.83 earnings per share for the quarter, missing the consensus estimate of $1.84 by $0.01. The business had revenue of $727.60 million for the quarter, compared to analysts’ expectations of $717.36 million. Panera Bread Company had a return on equity of 51.13% and a net margin of 5.39%. Panera Bread Company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.56 EPS. On average, equities analysts predict that Panera Bread Company will post $7.70 EPS for the current year.
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PNRA has been the subject of a number of research reports. Maxim Group lowered shares of Panera Bread Company from a “buy” rating to a “hold” rating and set a $260.00 price objective for the company. in a research note on Wednesday, March 29th. Robert W. Baird lowered shares of Panera Bread Company from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $265.00 to $290.00 in a research note on Tuesday, April 4th. Credit Suisse Group upped their price objective on shares of Panera Bread Company from $260.00 to $300.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 4th. Cowen and Company reaffirmed an “outperform” rating and issued a $270.00 price objective on shares of Panera Bread Company in a research note on Tuesday, April 4th. Finally, Piper Jaffray Companies lowered shares of Panera Bread Company from an “overweight” rating to a “neutral” rating in a research note on Wednesday, April 5th. Two analysts have 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 an average rating of “Hold” and an average target price of $273.65.
Panera Bread Company 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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