Stone Ridge Asset Management LLC Purchases New Position in Bojangles Inc (BOJA)

Stone Ridge Asset Management LLC purchased a new position in shares of Bojangles Inc (NASDAQ:BOJA) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 11,598 shares of the restaurant operator’s stock, valued at approximately $182,000.

Several other hedge funds have also recently bought and sold shares of BOJA. Cortina Asset Management LLC bought a new position in shares of Bojangles during the 2nd quarter worth $4,204,000. Dimensional Fund Advisors LP grew its stake in shares of Bojangles by 20.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,553,854 shares of the restaurant operator’s stock worth $22,376,000 after acquiring an additional 261,204 shares during the period. Citadel Advisors LLC grew its stake in shares of Bojangles by 399.7% during the 2nd quarter. Citadel Advisors LLC now owns 199,284 shares of the restaurant operator’s stock worth $2,870,000 after acquiring an additional 159,406 shares during the period. BlackRock Inc. grew its stake in shares of Bojangles by 9.7% during the 2nd quarter. BlackRock Inc. now owns 1,208,898 shares of the restaurant operator’s stock worth $17,409,000 after acquiring an additional 107,107 shares during the period. Finally, Millennium Management LLC grew its stake in shares of Bojangles by 30.1% during the 2nd quarter. Millennium Management LLC now owns 382,266 shares of the restaurant operator’s stock worth $5,505,000 after acquiring an additional 88,343 shares during the period. Institutional investors own 89.14% of the company’s stock.

Shares of NASDAQ BOJA opened at $16.06 on Friday. Bojangles Inc has a 52 week low of $11.35 and a 52 week high of $17.10. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $603.04 million, a price-to-earnings ratio of 21.41, a P/E/G ratio of 1.82 and a beta of 1.16.

Bojangles (NASDAQ:BOJA) last issued its earnings results on Thursday, November 8th. The restaurant operator reported $0.21 EPS for the quarter, topping the consensus estimate of $0.15 by $0.06. Bojangles had a return on equity of 9.95% and a net margin of 9.42%. The business had revenue of $138.67 million during the quarter, compared to the consensus estimate of $136.29 million. On average, equities analysts forecast that Bojangles Inc will post 0.71 earnings per share for the current fiscal year.

BOJA has been the subject of several research reports. BidaskClub upgraded Bojangles from a “hold” rating to a “buy” rating in a research note on Friday, November 16th. ValuEngine upgraded Bojangles from a “hold” rating to a “buy” rating in a research note on Friday, September 28th. TheStreet downgraded Bojangles from a “b-” rating to a “c+” rating in a research note on Monday, July 30th. Zacks Investment Research upgraded Bojangles from a “sell” rating to a “hold” rating and set a $18.00 target price for the company in a research note on Friday, November 9th. Finally, SunTrust Banks downgraded Bojangles from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a research note on Friday, November 9th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $15.00.

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Bojangles Profile

Bojangles', Inc develops, operates, and franchises limited service restaurants in the United States. Its restaurants offer made-from-scratch biscuit breakfast sandwiches, hand-breaded bone-in chicken, fixin's, and iced tea. As of July 1, 2018, the company operated 766 system-wide restaurants, including 325 company-operated and 441 franchised restaurants primarily located in the Southeastern United States.

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Institutional Ownership by Quarter for Bojangles (NASDAQ:BOJA)

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