AQR Capital Management LLC Has $6.76 Million Stake in Panera Bread Co (PNRA)
AQR Capital Management LLC lowered its stake in Panera Bread Co (NASDAQ:PNRA) by 5.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,820 shares of the company’s stock after selling 1,351 shares during the period. AQR Capital Management LLC owned about 0.11% of Panera Bread worth $6,761,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of PNRA. BlackRock Inc. raised its position in shares of Panera Bread by 13,517.9% in the first quarter. BlackRock Inc. now owns 1,758,482 shares of the company’s stock valued at $460,494,000 after buying an additional 1,745,569 shares during the last quarter. Vanguard Group Inc. raised its position in Panera Bread by 1.8% in the first quarter. Vanguard Group Inc. now owns 1,704,149 shares of the company’s stock worth $446,266,000 after buying an additional 29,673 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in Panera Bread during the first quarter worth about $167,317,000. State Street Corp raised its position in Panera Bread by 1.2% in the first quarter. State Street Corp now owns 583,129 shares of the company’s stock worth $152,708,000 after buying an additional 6,907 shares in the last quarter. Finally, ING Groep NV bought a new position in Panera Bread during the first quarter worth about $93,401,000. Institutional investors own 96.66% of the company’s stock.
A number of research firms recently issued reports on PNRA. Sanford C. Bernstein restated an “outperform” rating on shares of Panera Bread in a research report on Monday, July 3rd. BidaskClub downgraded Panera Bread from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Maxim Group reaffirmed a “hold” rating and set a $315.00 target price on shares of Panera Bread in a research note on Tuesday, April 11th. Zacks Investment Research raised Panera Bread from a “hold” rating to a “buy” rating and set a $351.00 target price on the stock in a research note on Tuesday, April 11th. Finally, Canaccord Genuity downgraded Panera Bread from a “buy” rating to a “hold” rating and set a $315.00 target price on the stock. in a research note on Wednesday, April 26th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $278.35.
Panera Bread Company 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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