Trade Report: The Morgan Stanley Reiterates “Overweight” Rating for Panera Bread Co. (PNRA)

The Morgan Stanley Reiterates “Overweight” Rating for Panera Bread Co. (PNRA)

Panera Bread Co. (NASDAQ:PNRA)‘s stock had its “overweight” rating reiterated by Morgan Stanley in a report released on Thursday. They currently have a $250.00 price target on the stock. Morgan Stanley’s target price would indicate a potential upside of 28.69% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. BTIG Research restated a “buy” rating and issued a $240.00 target price on shares of Panera Bread in a research report on Wednesday, October 26th. RBC Capital Markets set a $250.00 target price on shares of Panera Bread and gave the company a “buy” rating in a research report on Friday, October 21st. Robert W. Baird restated an “outperform” rating and issued a $248.00 target price on shares of Panera Bread in a research report on Friday, October 21st. Wedbush restated an “outperform” rating and issued a $220.00 target price (down previously from $250.00) on shares of Panera Bread in a research report on Saturday, October 15th. Finally, Longbow Research upgraded shares of Panera Bread from a “neutral” rating to a “buy” rating and set a $239.00 target price on the stock in a research report on Monday, October 10th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the stock. Panera Bread has an average rating of “Buy” and an average price target of $230.35.

Panera Bread (NASDAQ:PNRA) opened at 194.26 on Thursday. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of 32.30 and a beta of 0.66. Panera Bread has a 52 week low of $165.17 and a 52 week high of $224.15. The company has a 50-day moving average of $195.72 and a 200-day moving average of $209.51.

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

In other Panera Bread news, insider Mark D. Wooldridge sold 164 shares of Panera Bread stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $222.18, for a total value of $36,437.52. Following the sale, the insider now owns 1,461 shares of the company’s stock, valued at $324,604.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Scott G. Blair sold 202 shares of Panera Bread stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $217.95, for a total transaction of $44,025.90. The disclosure for this sale can be found here. 6.96% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of Panera Bread by 1.7% in the first quarter. Geode Capital Management LLC now owns 147,463 shares of the company’s stock valued at $30,204,000 after buying an additional 2,436 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Panera Bread by 16.6% in the first quarter. Renaissance Technologies LLC now owns 270,392 shares of the company’s stock valued at $55,384,000 after buying an additional 38,592 shares in the last quarter. Calamos Advisors LLC bought a new stake in shares of Panera Bread during the second quarter valued at approximately $28,251,000. Westend Capital Management LLC bought a new stake in shares of Panera Bread during the first quarter valued at approximately $1,480,000. Finally, Nuveen Asset Management LLC raised its stake in shares of Panera Bread by 76.6% in the first quarter. Nuveen Asset Management LLC now owns 36,927 shares of the company’s stock valued at $7,564,000 after buying an additional 16,019 shares in the last quarter. 93.09% of the stock is currently owned by institutional investors and hedge funds.

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