Credit Suisse AG decreased its position in shares of Panera Bread Co (NASDAQ:PNRA) by 3.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,312 shares of the company’s stock after selling 714 shares during the period. Credit Suisse AG owned 0.10% of Panera Bread worth $6,105,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of the stock. Coconut Grove Bank raised its stake in shares of 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 during the period. YHB Investment Advisors Inc. bought a new stake in shares of Panera Bread during the first quarter worth about $208,000. Intrust Bank NA acquired a new position in Panera Bread during the first quarter worth $205,000. United Capital Financial Advisers LLC acquired a new position in Panera Bread during the first quarter worth $206,000. Finally, Chickasaw Capital Management LLC acquired a new position in Panera Bread during the first quarter worth $209,000. 96.66% of the stock is owned by institutional investors.
PNRA has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Panera Bread from a “hold” rating to a “buy” rating and set a $352.00 price target on the stock in a report on Tuesday, July 4th. Credit Suisse Group raised their price target on shares of Panera Bread from $260.00 to $300.00 and gave the company an “outperform” rating in a report on Tuesday, April 4th. Maxim Group restated a “hold” rating and set a $315.00 price target (up previously from $260.00) on shares of Panera Bread in a report on Wednesday, April 5th. BidaskClub upgraded shares of Panera Bread from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Finally, Wells Fargo & Company downgraded shares of Panera Bread from an “outperform” rating to a “market perform” rating in a report on Friday, April 7th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company. Panera Bread has an average rating of “Hold” and a consensus price target 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.
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