Contravisory Investment Management Inc. Has $7,178,000 Stake in Panera Bread Co. (PNRA)
Contravisory Investment Management Inc. decreased its position in Panera Bread Co. (NASDAQ:PNRA) by 4.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,865 shares of the company’s stock after selling 1,830 shares during the period. Panera Bread comprises about 2.3% of Contravisory Investment Management Inc.’s portfolio, making the stock its 16th largest position. Contravisory Investment Management Inc. owned 0.16% of Panera Bread worth $7,178,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC increased its position in shares of Panera Bread by 1.7% in the first quarter. Geode Capital Management LLC now owns 147,463 shares of the company’s stock worth $30,204,000 after buying an additional 2,436 shares during the last quarter. Magnetar Financial LLC bought a new position in Panera Bread during the first quarter valued at about $290,000. Arizona State Retirement System increased its position in Panera Bread by 2.4% in the first quarter. Arizona State Retirement System now owns 12,681 shares of the company’s stock valued at $2,597,000 after buying an additional 300 shares in the last quarter. Seven Eight Capital LLC bought a new position in Panera Bread during the first quarter valued at about $225,000. Finally, BlueMountain Capital Management LLC bought a new position in Panera Bread during the first quarter valued at about $204,000. Hedge funds and other institutional investors own 97.72% of the company’s stock.
Panera Bread Co. (NASDAQ:PNRA) traded down 0.50% during trading on Friday, reaching $209.47. 472,235 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $194.44 and its 200-day moving average price is $208.00. Panera Bread Co. has a 52 week low of $172.35 and a 52 week high of $224.15. The stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of 34.83 and a beta of 0.27.
Panera Bread (NASDAQ:PNRA) last released its quarterly earnings results on Tuesday, October 25th. The company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.03. Panera Bread had a net margin of 5.24% and a return on equity of 39.44%. The company had revenue of $684.20 million for the quarter, compared to the consensus estimate of $682.04 million. During the same period in the previous year, the firm earned $1.32 EPS. Panera Bread’s revenue was up 2.9% on a year-over-year basis. On average, equities analysts expect that Panera Bread Co. will post $6.71 EPS for the current year.
Several equities analysts have issued reports on PNRA shares. BTIG Research restated a “buy” rating and issued a $240.00 price objective on shares of Panera Bread in a research note on Wednesday, October 26th. Vetr upgraded shares of Panera Bread from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. Robert W. Baird restated an “outperform” rating on shares of Panera Bread in a research note on Thursday, September 8th. Morgan Stanley restated an “overweight” rating and issued a $250.00 price objective on shares of Panera Bread in a research note on Thursday, October 27th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $210.00 price objective (up previously from $205.00) on shares of Panera Bread in a research note on Thursday, July 28th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the stock. Panera Bread presently has a consensus rating of “Buy” and an average price target of $231.54.
In related news, SVP Scott G. Blair sold 204 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $186.00, for a total value of $37,944.00. Following the sale, the senior vice president now directly owns 5,752 shares in the company, valued at approximately $1,069,872. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Scott G. Blair sold 202 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $217.95, for a total transaction of $44,025.90. The disclosure for this sale can be found here. Company insiders own 6.96% of the company’s stock.
Panera Bread Company Profile
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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