Parametric Portfolio Associates LLC lowered its position in Panera Bread Co (NASDAQ:PNRA) by 58.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,590 shares of the company’s stock after selling 47,791 shares during the period. Parametric Portfolio Associates LLC’s holdings in Panera Bread were worth $10,569,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. FNY Managed Accounts LLC acquired a new position in shares of Panera Bread during the 1st quarter worth about $156,000. BT Investment Management Ltd acquired a new position in shares of Panera Bread during the 2nd quarter worth about $203,000. Forte Capital LLC ADV acquired a new position in shares of Panera Bread during the 2nd quarter worth about $225,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Panera Bread by 7.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 715 shares of the company’s stock worth $225,000 after purchasing an additional 49 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its position in shares of Panera Bread by 627.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 727 shares of the company’s stock worth $228,000 after purchasing an additional 627 shares during the last quarter. Institutional investors and hedge funds own 96.66% of the company’s stock.
Several research firms recently weighed in on PNRA. Sanford C. Bernstein restated an “outperform” rating on shares of Panera Bread in a research report on Monday, July 3rd. BidaskClub downgraded shares of Panera Bread from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Finally, Zacks Investment Research upgraded shares of Panera Bread from a “hold” rating to a “buy” rating and set a $352.00 price target for the company in a research report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. Panera Bread presently has an average rating of “Hold” and an average price target of $281.39.
Panera Bread 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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