State Treasurer State of Michigan raised its stake in Panera Bread Co (NASDAQ:PNRA) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,800 shares of the company’s stock after buying an additional 100 shares during the period. State Treasurer State of Michigan’s holdings in Panera Bread were worth $2,769,000 at the end of the most recent reporting period.
Several other hedge funds have also 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 valued at $145,000 after buying an additional 270 shares during the period. FNY Managed Accounts LLC acquired a new stake in Panera Bread during the first quarter valued at $156,000. Intrust Bank NA acquired a new stake in Panera Bread during the first quarter valued at $205,000. United Capital Financial Advisers LLC acquired a new stake in Panera Bread during the first quarter valued at $206,000. Finally, YHB Investment Advisors Inc. acquired a new stake in Panera Bread during the first quarter valued at $208,000. Institutional investors and hedge funds own 96.66% of the company’s stock.
Several research firms have recently weighed in on PNRA. Sanford C. Bernstein reiterated an “outperform” rating on shares of Panera Bread in a research report on Monday, July 3rd. Wedbush reiterated a “hold” rating and set a $315.00 target price on shares of Panera Bread in a research report on Wednesday, April 5th. Piper Jaffray Companies downgraded Panera Bread from an “overweight” rating to a “neutral” rating in a research report on Wednesday, April 5th. Zacks Investment Research upgraded Panera Bread from a “hold” rating to a “buy” rating and set a $352.00 target price for the company in a research report on Tuesday, July 4th. Finally, BTIG Research downgraded Panera Bread from a “buy” rating to a “neutral” rating in a research report on Thursday, April 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $278.35.
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.
Want to see what other hedge funds are holding PNRA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Panera Bread Co (NASDAQ:PNRA).
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.
