Today, World Asset Management Inc invests in Panera Bread Co. (PNRA) Shares

Today, World Asset Management Inc invests in Panera Bread Co. (PNRA) Shares

World Asset Management Inc increased its stake in Panera Bread Co. (NASDAQ:PNRA) by 30.4% during the third quarter, Holdings Channel reports. The institutional investor owned 1,457 shares of the company’s stock after buying an additional 340 shares during the period. World Asset Management Inc’s holdings in Panera Bread were worth $284,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PNRA. Old Mutual Global Investors UK Ltd. raised its position 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 during the last quarter. Chicago Equity Partners LLC raised its position in Panera Bread by 28.6% in the third quarter. Chicago Equity Partners LLC now owns 8,010 shares of the company’s stock valued at $1,560,000 after buying an additional 1,780 shares during the last quarter. State of Alaska Department of Revenue raised its position in Panera Bread by 6.1% in the third quarter. State of Alaska Department of Revenue now owns 29,346 shares of the company’s stock valued at $5,714,000 after buying an additional 1,692 shares during the last quarter. Sumitomo Life Insurance Co. acquired a new position in Panera Bread during the third quarter valued at approximately $441,000. Finally, Henderson Group PLC raised its position in Panera Bread by 8.3% in the third quarter. Henderson Group PLC now owns 301,484 shares of the company’s stock valued at $58,705,000 after buying an additional 23,219 shares during the last quarter. Hedge funds and other institutional investors own 96.57% of the company’s stock.

Shares of Panera Bread Co. (NASDAQ:PNRA) traded down 0.34% during midday trading on Friday, hitting $217.16. 213,488 shares of the company were exchanged. The company’s 50 day moving average price is $197.68 and its 200 day moving average price is $207.99. Panera Bread Co. has a one year low of $178.99 and a one year high of $224.15. The firm has a market cap of $5.05 billion, a P/E ratio of 36.11 and a beta of 0.27.

Panera Bread (NASDAQ:PNRA) last issued its earnings results on Tuesday, October 25th. The company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.03. The business earned $684.20 million during the quarter, compared to analyst estimates of $682.04 million. Panera Bread had a return on equity of 39.44% and a net margin of 5.24%. Panera Bread’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.32 earnings per share. Equities analysts expect that Panera Bread Co. will post $6.71 EPS for the current year.

Several research firms recently commented on PNRA. Vetr lowered shares of Panera Bread from a “strong-buy” rating to a “buy” rating and set a $243.51 price target on the stock. in a report on Thursday. Zacks Investment Research upgraded shares of Panera Bread from a “sell” rating to a “hold” rating in a report on Thursday, October 27th. Morgan Stanley restated an “overweight” rating and issued a $250.00 price target on shares of Panera Bread in a report on Thursday, October 27th. BTIG Research restated a “buy” rating and issued a $240.00 price target on shares of Panera Bread in a report on Wednesday, October 26th. Finally, RBC Capital Markets set a $250.00 price target on shares of Panera Bread and gave the company a “buy” rating in a report on Friday, October 21st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $233.33.

In related news, SVP Scott G. Blair sold 204 shares of the company’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $186.00, for a total value of $37,944.00. Following the completion of the transaction, the senior vice president now directly owns 5,752 shares in the company, valued at $1,069,872. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.96% of the stock is owned by corporate insiders.

Panera Bread Company Profile

Panera Bread Company (Panera) is a food service provider. Panera is a national bakery-cafe concept with approximately 1,970 Company-owned and franchise-operated bakery-cafe locations in over 45 states, the District of Columbia, and Ontario, Canada. The Company operates through three segments: Company Bakery-Cafe Operations, Franchise Operations, and Fresh Dough and Other Product Operations.

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