Vetr downgraded shares of Panera Bread Co. (NASDAQ:PNRA) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday. The brokerage currently has $243.51 target price on the stock.
Several other research firms also recently weighed in on PNRA. Maxim Group raised their price target on Panera Bread from $230.00 to $250.00 and gave the stock a buy rating in a research report on Thursday, September 29th. Robert W. Baird reissued an outperform rating on shares of Panera Bread in a research report on Thursday, September 8th. Longbow Research raised Panera Bread from a neutral rating to a buy rating and set a $239.00 price target for the company in a research report on Monday, October 10th. Wedbush reissued an outperform rating and set a $220.00 price target (down previously from $250.00) on shares of Panera Bread in a research report on Saturday, October 15th. Finally, Canaccord Genuity started coverage on Panera Bread in a research report on Monday, August 22nd. They set a buy rating and a $255.00 price target for the company. Two research 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 currently has a consensus rating of Buy and an average target price of $233.33.
Panera Bread (NASDAQ:PNRA) opened at 212.19 on Thursday. Panera Bread has a 1-year low of $178.99 and a 1-year high of $224.15. The company’s 50-day moving average price is $198.33 and its 200 day moving average price is $207.93. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 35.28 and a beta of 0.27.
Panera Bread (NASDAQ:PNRA) last issued its quarterly earnings data on Tuesday, October 25th. The company reported $1.37 earnings per share (EPS) for the quarter, topping the 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 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 previous year, the firm posted $1.32 earnings per share. On average, equities analysts expect that Panera Bread will post $6.71 earnings per share for the current fiscal year.
In other Panera Bread news, SVP Scott G. Blair sold 204 shares of the company’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $186.00, for a total transaction of $37,944.00. Following the sale, the senior vice president now owns 5,752 shares in the company, valued at $1,069,872. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.96% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Voloridge Investment Management LLC raised its position in Panera Bread by 9.7% in the second quarter. Voloridge Investment Management LLC now owns 56,750 shares of the company’s stock valued at $12,028,000 after buying an additional 5,039 shares during the period. Cookson Peirce & Co. Inc. raised its position in Panera Bread by 74.9% in the second quarter. Cookson Peirce & Co. Inc. now owns 52,430 shares of the company’s stock valued at $11,112,000 after buying an additional 22,450 shares during the period. Calamos Advisors LLC bought a new position in Panera Bread during the second quarter valued at approximately $28,251,000. BB&T Corp bought a new position in Panera Bread during the second quarter valued at approximately $2,291,000. Finally, Columbus Circle Investors raised its position in Panera Bread by 985.5% in the second quarter. Columbus Circle Investors now owns 409,650 shares of the company’s stock valued at $86,821,000 after buying an additional 371,910 shares during the period. 94.19% of the stock is owned by institutional investors.
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.