American International Group Inc. increased its position in Panera Bread Company (NASDAQ:PNRA) by 1.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,608 shares of the company’s stock after buying an additional 591 shares during the period. American International Group Inc. owned 0.19% of Panera Bread Company worth $11,158,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in PNRA. Thrivent Financial for Lutherans raised its position in Panera Bread Company by 6.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 3,730 shares of the company’s stock worth $765,000 after buying an additional 220 shares in the last quarter. Retirement Systems of Alabama raised its position in Panera Bread Company by 6.4% in the first quarter. Retirement Systems of Alabama now owns 65,952 shares of the company’s stock worth $17,271,000 after buying an additional 3,958 shares in the last quarter. Huntington National Bank increased its stake in shares of Panera Bread Company by 34.8% in the first quarter. Huntington National Bank now owns 3,430 shares of the company’s stock worth $898,000 after buying an additional 885 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of Panera Bread Company by 5.1% in the first quarter. State of Alaska Department of Revenue now owns 32,819 shares of the company’s stock worth $8,594,000 after buying an additional 1,587 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Panera Bread Company during the fourth quarter worth approximately $48,169,000. 97.03% of the stock is currently owned by hedge funds and other institutional investors.
Panera Bread Company (NASDAQ:PNRA) traded up 0.04% during trading on Friday, hitting $314.57. 354,409 shares of the company traded hands. The firm has a 50 day moving average of $313.61 and a 200 day moving average of $257.22. The firm has a market cap of $7.07 billion, a P/E ratio of 47.62 and a beta of 0.20. Panera Bread Company has a one year low of $185.69 and a one year high of $316.21.
Panera Bread Company (NASDAQ:PNRA) last issued its earnings results on Tuesday, April 25th. The company reported $1.83 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.84 by $0.01. The firm had revenue of $727.60 million for the quarter, compared to analyst estimates of $717.36 million. Panera Bread Company had a return on equity of 51.13% and a net margin of 5.39%. Panera Bread Company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.56 earnings per share. On average, analysts expect that Panera Bread Company will post $7.71 earnings per share for the current fiscal year.
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A number of brokerages recently commented on PNRA. Wedbush restated a “hold” rating and issued a $315.00 price objective on shares of Panera Bread Company in a research report on Wednesday, April 5th. Canaccord Genuity restated a “buy” rating and issued a $270.00 price objective on shares of Panera Bread Company in a research report on Friday, February 24th. Piper Jaffray Companies downgraded shares of Panera Bread Company from an “overweight” rating to a “neutral” rating in a research report on Wednesday, April 5th. BTIG Research downgraded shares of Panera Bread Company from a “buy” rating to a “neutral” rating in a research report on Thursday, April 6th. Finally, Cowen and Company reiterated an “outperform” rating and set a $270.00 price target (up from $265.00) on shares of Panera Bread Company in a research report on Friday, March 17th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $274.02.
About Panera Bread Company
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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