First Trust Advisors LP lowered its position in Panera Bread Co. (NASDAQ:PNRA) by 0.7% during the third quarter, Holdings Channel reports. The institutional investor owned 79,211 shares of the company’s stock after selling 535 shares during the period. First Trust Advisors LP’s holdings in Panera Bread were worth $15,424,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Voloridge Investment Management LLC increased its stake in shares of Panera Bread by 9.7% in the second quarter. Voloridge Investment Management LLC now owns 56,750 shares of the company’s stock worth $12,028,000 after buying an additional 5,039 shares during the last quarter. Cookson Peirce & Co. Inc. increased its stake in shares of Panera Bread by 74.9% in the second quarter. Cookson Peirce & Co. Inc. now owns 52,430 shares of the company’s stock worth $11,112,000 after buying an additional 22,450 shares during the last quarter. Calamos Advisors LLC purchased a new stake in shares of Panera Bread during the second quarter worth approximately $28,251,000. BB&T Corp purchased a new stake in shares of Panera Bread during the second quarter worth approximately $2,291,000. Finally, Columbus Circle Investors increased its stake in shares of Panera Bread by 985.5% in the second quarter. Columbus Circle Investors now owns 409,650 shares of the company’s stock worth $86,821,000 after buying an additional 371,910 shares during the last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Panera Bread Co. (NASDAQ:PNRA) traded down 1.8729% during mid-day trading on Monday, reaching $213.0929. 302,443 shares of the company were exchanged. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 35.4328 and a beta of 0.27. The firm’s 50-day moving average is $197.68 and its 200-day moving average is $207.99. Panera Bread Co. has a 12 month low of $178.99 and a 12 month high of $224.15.
Panera Bread (NASDAQ:PNRA) last issued its earnings results on Tuesday, October 25th. The company reported $1.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.34 by $0.03. The firm earned $684.20 million during the quarter, compared to analysts’ expectations of $682.04 million. Panera Bread had a net margin of 5.24% and a return on equity of 39.44%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the firm posted $1.32 earnings per share. On average, equities analysts forecast that Panera Bread Co. will post $6.71 earnings per share for the current fiscal year.
A number of equities research analysts recently commented on PNRA shares. Canaccord Genuity started coverage on shares of Panera Bread in a research report on Monday, August 22nd. They issued a “buy” rating and a $255.00 price objective for the company. Vetr upgraded shares of Panera Bread from a “hold” rating to a “buy” rating in a research report on Tuesday, August 30th. Cowen and Company set a $240.00 price objective on shares of Panera Bread and gave the company a “buy” rating in a research report on Thursday, August 11th. Maxim Group raised their price objective on shares of Panera Bread from $230.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, September 29th. Finally, Longbow Research upgraded shares of Panera Bread from a “neutral” rating to a “buy” rating and set a $239.00 price objective for the company in a research report on Monday, October 10th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. Panera Bread presently has a consensus rating of “Buy” and an average price target of $233.33.
In related news, SVP Scott G. Blair sold 204 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The shares were 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 owns 5,752 shares of the company’s stock, valued at approximately $1,069,872. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.96% of the stock is currently owned by corporate insiders.
About Panera Bread
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.