Several other analysts also recently commented on the stock. Royal Bank of Canada restated a buy rating and set a $255.00 price objective (up from $250.00) on shares of Panera Bread in a research report on Sunday, February 5th. Vetr cut shares of Panera Bread from a hold rating to a sell rating in a research note on Friday, March 17th. Zacks Investment Research cut shares of Panera Bread from a hold rating to a sell rating in a research note on Thursday, January 5th. Goldman Sachs Group Inc raised shares of Panera Bread from a neutral rating to a buy rating and set a $227.00 target price for the company in a research note on Thursday, January 19th. Finally, Oppenheimer Holdings Inc. raised shares of Panera Bread from a market perform rating to an outperform rating and set a $240.00 target price for the company in a research note on Wednesday, January 4th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $271.87.
Panera Bread (NASDAQ:PNRA) traded down 0.04% during trading on Friday, hitting $314.27. The stock had a trading volume of 449,363 shares. The firm has a market capitalization of $7.12 billion, a PE ratio of 50.85 and a beta of 0.31. Panera Bread has a 1-year low of $185.69 and a 1-year high of $316.21. The firm has a 50 day moving average price of $266.20 and a 200-day moving average price of $223.54.
Panera Bread (NASDAQ:PNRA) last announced its quarterly earnings data on Tuesday, February 7th. The company reported $2.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.00 by $0.05. The firm had revenue of $727.11 million for the quarter, compared to the consensus estimate of $727.75 million. Panera Bread had a net margin of 5.21% and a return on equity of 42.93%. The company’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the firm earned $1.88 EPS. On average, equities research analysts expect that Panera Bread will post $7.73 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership acquired a new position in shares of Panera Bread during the fourth quarter worth about $69,996,000. Capital Research Global Investors raised its position in shares of Panera Bread by 18.7% in the third quarter. Capital Research Global Investors now owns 1,907,240 shares of the company’s stock worth $371,378,000 after buying an additional 300,000 shares during the period. Old Mutual Global Investors UK Ltd. raised its position in shares of Panera Bread by 363.9% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 354,240 shares of the company’s stock worth $68,977,000 after buying an additional 277,871 shares during the period. Norges Bank acquired a new position in shares of Panera Bread during the fourth quarter worth about $48,169,000. Finally, William Blair Investment Management LLC acquired a new position in shares of Panera Bread during the fourth quarter worth about $45,719,000. 93.32% of the stock is currently owned by institutional investors.
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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