Wedbush Lowers Panera Bread Co. (PNRA) to Neutral
Wedbush lowered shares of Panera Bread Co. (NASDAQ:PNRA) from an outperform rating to a neutral rating in a report released on Monday. Wedbush currently has $220.00 price target on the stock. The analysts noted that the move was a valuation call.
A number of other equities analysts have also recently weighed in on PNRA. RBC Capital Markets set a $250.00 price objective on shares of Panera Bread and gave the stock a buy rating in a research report on Friday, October 21st. Vetr cut shares of Panera Bread from a buy rating to a hold rating and set a $226.25 price objective for the company. in a research report on Monday, August 29th. BTIG Research restated a buy rating and set a $240.00 price objective on shares of Panera Bread in a research report on Wednesday, October 26th. Morgan Stanley restated an overweight rating and set a $250.00 price objective on shares of Panera Bread in a research report on Thursday, October 27th. Finally, Cowen and Company set a $240.00 target price on shares of Panera Bread and gave the stock a buy rating in a report on Thursday, August 11th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have issued a buy rating to the company. Panera Bread presently has an average rating of Buy and an average target price of $233.33.
Shares of Panera Bread (NASDAQ:PNRA) opened at 212.11 on Monday. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 35.27 and a beta of 0.27. The company’s 50-day moving average is $198.33 and its 200-day moving average is $207.93. Panera Bread has a one year low of $178.99 and a one year high of $224.15.
Panera Bread (NASDAQ:PNRA) last posted its quarterly earnings data 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 company 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% on a year-over-year basis. During the same period in the prior year, the business posted $1.32 earnings per share. On average, equities analysts predict that Panera Bread will post $6.71 EPS for the current year.
In other news, SVP Scott G. Blair sold 204 shares of the stock in a transaction dated Wednesday, November 9th. The shares were 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 of the company’s stock, valued at $1,069,872. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.96% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Voloridge Investment Management LLC boosted 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 valued at $12,028,000 after buying an additional 5,039 shares in the last quarter. Cookson Peirce & Co. Inc. boosted 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 valued at $11,112,000 after buying an additional 22,450 shares in the last quarter. Calamos Advisors LLC acquired a new stake in shares of Panera Bread during the second quarter valued at about $28,251,000. BB&T Corp acquired a new stake in shares of Panera Bread during the second quarter valued at about $2,291,000. Finally, Columbus Circle Investors boosted 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 valued at $86,821,000 after buying an additional 371,910 shares in the last quarter. 94.19% of the stock is currently owned by institutional investors and hedge funds.
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.
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