Panera Bread Co (PNRA) Shares Sold by ProShare Advisors LLC
ProShare Advisors LLC lowered its position in shares of Panera Bread Co (NASDAQ:PNRA) by 15.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,895 shares of the company’s stock after selling 336 shares during the period. ProShare Advisors LLC’s holdings in Panera Bread were worth $496,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in PNRA. Farr Miller & Washington LLC DC raised its position in Panera Bread by 0.4% in the fourth quarter. Farr Miller & Washington LLC DC now owns 1,140 shares of the company’s stock worth $234,000 after buying an additional 5 shares during the period. Chevy Chase Trust Holdings Inc. increased its stake in shares of Panera Bread by 0.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,780 shares of the company’s stock worth $466,000 after buying an additional 5 shares in the last quarter. Dean Investment Associates LLC increased its stake in shares of Panera Bread by 0.3% in the third quarter. Dean Investment Associates LLC now owns 2,601 shares of the company’s stock worth $506,000 after buying an additional 9 shares in the last quarter. Renaissance Investment Group LLC increased its stake in shares of Panera Bread by 2.6% in the first quarter. Renaissance Investment Group LLC now owns 1,185 shares of the company’s stock worth $310,000 after buying an additional 30 shares in the last quarter. Finally, Brown Advisory Inc. increased its stake in shares of Panera Bread by 0.6% in the fourth quarter. Brown Advisory Inc. now owns 5,808 shares of the company’s stock worth $1,192,000 after buying an additional 34 shares in the last quarter. 93.32% of the stock is owned by institutional investors and hedge funds.
Shares of Panera Bread Co (NASDAQ:PNRA) opened at 313.70 on Thursday. Panera Bread Co has a 52 week low of $185.69 and a 52 week high of $316.21. The stock’s 50 day moving average price is $313.45 and its 200-day moving average price is $244.98. The stock has a market cap of $7.05 billion, a price-to-earnings ratio of 47.49 and a beta of 0.31.
Panera Bread (NASDAQ:PNRA) last issued its earnings results on Tuesday, April 25th. The company reported $1.83 earnings per share for the quarter, missing the consensus estimate of $1.84 by $0.01. Panera Bread had a return on equity of 42.93% and a net margin of 5.21%. The business had revenue of $727.60 million for the quarter, compared to analyst estimates of $717.36 million. During the same period last year, the business posted $1.56 EPS. Panera Bread’s revenue was up 6.2% on a year-over-year basis. Equities analysts anticipate that Panera Bread Co will post $7.70 earnings per share for the current fiscal year.
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PNRA has been the subject of several research analyst reports. Zacks Investment Research downgraded Panera Bread from a “buy” rating to a “hold” rating in a research report on Thursday, April 20th. Canaccord Genuity downgraded Panera Bread from a “buy” rating to a “hold” rating and set a $315.00 target price for the company. in a research report on Wednesday, April 26th. Maxim Group reiterated a “hold” rating and set a $315.00 target price on shares of Panera Bread in a research report on Tuesday, April 11th. BMO Capital Markets lifted their target price on Panera Bread from $210.00 to $270.00 and gave the stock a “market perform” rating in a research report on Thursday, April 6th. Finally, Royal Bank of Canada downgraded Panera Bread from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from $255.00 to $315.00 in a report on Thursday, April 6th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $274.02.
About Panera Bread
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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