Meeder Asset Management Inc. Purchases 627 Shares of Panera Bread Co (PNRA)

Meeder Asset Management Inc. boosted its stake in shares of Panera Bread Co (NASDAQ:PNRA) by 627.0% during the second quarter, Holdings Channel reports. The institutional investor owned 727 shares of the company’s stock after buying an additional 627 shares during the period. Meeder Asset Management Inc.’s holdings in Panera Bread were worth $228,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PNRA. Coconut Grove Bank boosted its position in shares of Panera Bread by 94.7% in the first quarter. Coconut Grove Bank now owns 555 shares of the company’s stock valued at $145,000 after buying an additional 270 shares in the last quarter. FNY Managed Accounts LLC purchased a new position in shares of Panera Bread during the first quarter valued at about $156,000. Intrust Bank NA purchased a new position in shares of Panera Bread during the first quarter valued at about $205,000. United Capital Financial Advisers LLC purchased a new position in shares of Panera Bread during the first quarter valued at about $206,000. Finally, YHB Investment Advisors Inc. purchased a new position in shares of Panera Bread during the first quarter valued at about $208,000. 96.66% of the stock is currently owned by institutional investors.

Panera Bread (NASDAQ:PNRA) last issued its quarterly earnings data on Tuesday, April 25th. The company reported $1.83 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.84 by $0.01. Panera Bread had a net margin of 5.80% and a return on equity of 59.38%. The company had revenue of $727.60 million during the quarter, compared to the consensus estimate of $717.36 million. During the same period in the previous year, the business posted $1.56 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis.

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Several brokerages have issued reports on PNRA. Sanford C. Bernstein reissued an “outperform” rating on shares of Panera Bread in a research note on Monday, July 3rd. Wedbush reaffirmed a “hold” rating and set a $315.00 price target on shares of Panera Bread in a research note on Wednesday, April 5th. Piper Jaffray Companies cut shares of Panera Bread from an “overweight” rating to a “neutral” rating in a research note on Wednesday, April 5th. Zacks Investment Research raised shares of Panera Bread from a “hold” rating to a “buy” rating and set a $352.00 price target on the stock in a research note on Tuesday, July 4th. Finally, BTIG Research cut shares of Panera Bread from a “buy” rating to a “neutral” rating in a research note on Thursday, April 6th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $273.65.

Panera Bread Company Profile

Panera Bread Company is a food service company. The Company is a national bakery-cafe concept. As of December 27, 2016, the Company operated 2,036 own and franchise-operated bakery-cafe locations in 46 states, the District of Columbia, and Ontario, Canada. It operates through three segments: Company bakery-cafe operations, franchise operations, and fresh dough and other product operations.

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