Columbus Circle Investors cut its stake in shares of Panera Bread Co (NASDAQ:PNRA) by 42.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 209,948 shares of the company’s stock after selling 152,532 shares during the period. Columbus Circle Investors’ holdings in Panera Bread were worth $54,979,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Capital Research Global Investors increased its stake in Panera Bread by 18.7% in the third quarter. Capital Research Global Investors now owns 1,907,240 shares of the company’s stock valued at $371,378,000 after buying an additional 300,000 shares in the last quarter. BlackRock Fund Advisors increased its stake in Panera Bread by 2.1% in the third quarter. BlackRock Fund Advisors now owns 825,865 shares of the company’s stock valued at $160,812,000 after buying an additional 17,143 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Panera Bread by 0.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 682,267 shares of the company’s stock valued at $132,851,000 after buying an additional 5,441 shares in the last quarter. Capital Guardian Trust Co. increased its stake in Panera Bread by 20.7% in the fourth quarter. Capital Guardian Trust Co. now owns 407,643 shares of the company’s stock valued at $83,604,000 after buying an additional 70,016 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. increased its stake in Panera Bread by 363.9% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 354,240 shares of the company’s stock valued at $68,977,000 after buying an additional 277,871 shares in the last quarter. Hedge funds and other institutional investors own 93.32% of the company’s stock.
Shares of Panera Bread Co (NASDAQ:PNRA) traded down 0.20% during midday trading on Thursday, reaching $314.36. The company’s stock had a trading volume of 366,564 shares. Panera Bread Co has a 12 month low of $185.69 and a 12 month high of $316.21. The stock’s 50 day moving average is $263.84 and its 200 day moving average is $222.88. The stock has a market capitalization of $7.12 billion, a PE ratio of 50.87 and a beta of 0.31.
Panera Bread (NASDAQ:PNRA) last posted its quarterly earnings data on Tuesday, February 7th. The company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.05. Panera Bread had a net margin of 5.21% and a return on equity of 42.93%. The firm had revenue of $727.11 million for the quarter, compared to analysts’ expectations of $727.75 million. During the same period in the previous year, the company posted $1.88 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. On average, analysts forecast that Panera Bread Co will post $7.73 EPS for the current fiscal year.
Several research analysts recently commented on PNRA shares. Telsey Advisory Group boosted their target price on Panera Bread from $250.00 to $270.00 and gave the stock an “outperform” rating in a research note on Friday, February 10th. Zacks Investment Research cut Panera Bread from a “hold” rating to a “sell” rating in a research note on Thursday, January 5th. Robert W. Baird reissued an “outperform” rating on shares of Panera Bread in a research note on Thursday, February 16th. Maxim Group reissued a “hold” rating and set a $315.00 target price on shares of Panera Bread in a research note on Tuesday, April 11th. Finally, William Blair cut Panera Bread from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 5th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $271.87.
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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