Louisiana State Employees Retirement System increased its position in shares of Panera Bread Co (NASDAQ:PNRA) by 3.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,600 shares of the company’s stock after buying an additional 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Panera Bread were worth $1,762,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in PNRA. Coconut Grove Bank increased its stake in Panera Bread by 94.7% in the first quarter. Coconut Grove Bank now owns 555 shares of the company’s stock worth $145,000 after buying an additional 270 shares in the last quarter. FNY Managed Accounts LLC bought a new stake in Panera Bread during the first quarter worth about $156,000. Intrust Bank NA acquired a new position in shares of Panera Bread during the first quarter worth $205,000. United Capital Financial Advisers LLC acquired a new position in shares of Panera Bread during the first quarter worth $206,000. Finally, YHB Investment Advisors Inc. acquired a new position in shares of Panera Bread during the first quarter worth $208,000. 96.66% of the stock is currently owned by institutional investors and hedge funds.
Panera Bread (NASDAQ:PNRA) last announced its quarterly earnings results on Tuesday, April 25th. The company reported $1.83 EPS for the quarter, missing the Thomson Reuters’ 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 firm 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 earned $1.56 earnings per share. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis.
WARNING: “Louisiana State Employees Retirement System Has $1.76 Million Stake in Panera Bread Co (NASDAQ:PNRA)” was posted by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this story on another publication, it was illegally copied and republished in violation of U.S. and international copyright and trademark laws. The original version of this story can be viewed at https://stocknewstimes.com/2017/07/29/panera-bread-company-nasdaqpnra-shares-bought-by-louisiana-state-employees-retirement-system-updated.html.
A number of brokerages have weighed in on PNRA. UBS AG set a $265.00 price target on Panera Bread and gave the stock a “buy” rating in a research report on Tuesday, April 4th. Royal Bank Of Canada downgraded Panera Bread from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from $255.00 to $315.00 in a research report on Thursday, April 6th. William Blair downgraded Panera Bread from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 5th. Sanford C. Bernstein reissued an “outperform” rating on shares of Panera Bread in a research report on Monday, July 3rd. Finally, Piper Jaffray Companies downgraded Panera Bread from an “overweight” rating to a “neutral” rating in a research report on Wednesday, April 5th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $278.35.
About Panera Bread
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.
Receive News & Ratings for Panera Bread Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Panera Bread Co and related companies with MarketBeat.com's FREE daily email newsletter.
