Meeder Asset Management Inc. raised its position in Panera Bread Co (NASDAQ:PNRA) by 627.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Chevy Chase Trust Holdings Inc. boosted its position in shares of Panera Bread by 0.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,780 shares of the company’s stock worth $466,000 after buying an additional 5 shares during the last quarter. Parsons Capital Management Inc. RI boosted its position in shares of Panera Bread by 0.4% in the first quarter. Parsons Capital Management Inc. RI now owns 1,274 shares of the company’s stock worth $334,000 after buying an additional 5 shares during the last quarter. Montag & Caldwell LLC boosted its position in shares of Panera Bread by 0.3% in the first quarter. Montag & Caldwell LLC now owns 4,518 shares of the company’s stock worth $1,183,000 after buying an additional 13 shares during the last quarter. Renaissance Investment Group LLC boosted its position in shares of Panera Bread by 2.6% in the first quarter. Renaissance Investment Group LLC now owns 1,185 shares of the company’s stock worth $310,000 after buying an additional 30 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its position in shares of Panera Bread by 3.9% in the first quarter. Gamco Investors INC. ET AL now owns 1,441 shares of the company’s stock worth $377,000 after buying an additional 54 shares during the last quarter. 96.66% of the stock is currently owned by hedge funds and other institutional investors.
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PNRA has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Panera Bread from a “buy” rating to a “hold” rating in a research note on Thursday, April 20th. Canaccord Genuity cut shares of Panera Bread from a “buy” rating to a “hold” rating and set a $315.00 price target on the stock. in a research note on Wednesday, April 26th. BidaskClub upgraded shares of Panera Bread from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Panera Bread in a research note on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the company. Panera Bread 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.
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