Panera Bread Co. (NASDAQ:PNRA) Receives $228.83 Consensus PT from Brokerages
Panera Bread Co. (NASDAQ:PNRA) has received an average recommendation of “Buy” from the twenty-eight ratings firms that are covering the company. Two research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and nineteen have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $228.83.
Several research firms recently weighed in on PNRA. Maxim Group raised their target price on shares of Panera Bread from $230.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, September 29th. Vetr cut shares of Panera Bread from a “strong-buy” rating to a “hold” rating and set a $202.50 target price for the company. in a research note on Wednesday, September 21st. Robert W. Baird reissued an “outperform” rating on shares of Panera Bread in a research note on Thursday, September 8th. Canaccord Genuity began coverage on shares of Panera Bread in a research report on Monday, August 22nd. They set a “buy” rating and a $255.00 price objective for the company. Finally, Piper Jaffray Cos. lifted their price objective on shares of Panera Bread from $237.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, August 18th.
In related news, SVP Scott G. Blair sold 198 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $219.92, for a total value of $43,544.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark D. Wooldridge sold 164 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $222.18, for a total value of $36,437.52. Following the completion of the sale, the insider now owns 1,461 shares in the company, valued at $324,604.98. The disclosure for this sale can be found here. 6.96% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in PNRA. Columbus Circle Investors boosted its stake in shares of Panera Bread by 985.5% in the second quarter. Columbus Circle Investors now owns 409,650 shares of the company’s stock valued at $86,821,000 after buying an additional 371,910 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Panera Bread by 2,177.7% in the second quarter. Alliancebernstein L.P. now owns 384,637 shares of the company’s stock valued at $81,520,000 after buying an additional 367,750 shares during the last quarter. Conatus Capital Management LP bought a new stake in shares of Panera Bread during the second quarter valued at approximately $76,922,000. Bank of New York Mellon Corp boosted its stake in shares of Panera Bread by 75.0% in the second quarter. Bank of New York Mellon Corp now owns 721,181 shares of the company’s stock valued at $152,846,000 after buying an additional 309,133 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of Panera Bread by 40.0% in the second quarter. FMR LLC now owns 1,003,927 shares of the company’s stock valued at $212,772,000 after buying an additional 286,619 shares during the last quarter. Institutional investors and hedge funds own 92.95% of the company’s stock.
Panera Bread (NASDAQ:PNRA) opened at 192.20 on Monday. Panera Bread has a 52 week low of $165.17 and a 52 week high of $224.15. The firm has a market cap of $4.53 billion, a PE ratio of 32.53 and a beta of 0.66. The stock has a 50 day moving average of $206.95 and a 200-day moving average of $211.42.
Panera Bread (NASDAQ:PNRA) last released its earnings results on Tuesday, July 26th. The company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.04. Panera Bread had a net margin of 5.30% and a return on equity of 34.45%. The business earned $698.90 million during the quarter, compared to analysts’ expectations of $696.46 million. During the same period last year, the business earned $1.61 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis. Analysts expect that Panera Bread will post $6.69 earnings per share for the current year.
About Panera Bread
Panera Bread Company (Panera) is a food service provider. Panera is a national bakery-cafe concept with approximately 1,970 Company-owned and franchise-operated bakery-cafe locations in over 45 states, the District of Columbia, and Ontario, Canada. The Company operates through three segments: Company Bakery-Cafe Operations, Franchise Operations, and Fresh Dough and Other Product Operations.
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