Panera Bread Co (PNRA) Holdings Cut by Nationwide Fund Advisors
Nationwide Fund Advisors trimmed its position in Panera Bread Co (NASDAQ:PNRA) by 46.5% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 96,149 shares of the company’s stock after selling 83,528 shares during the period. Nationwide Fund Advisors’ holdings in Panera Bread were worth $30,252,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of PNRA. FNY Managed Accounts LLC bought a new stake in Panera Bread in the 1st quarter worth about $156,000. United Capital Financial Advisers LLC bought a new stake in Panera Bread in the 1st quarter worth about $206,000. YHB Investment Advisors Inc. bought a new stake in Panera Bread in the 1st quarter worth about $208,000. PICTET BANK & TRUST Ltd bought a new stake in Panera Bread in the 1st quarter worth about $209,000. Finally, Neuberger Berman Group LLC bought a new stake in Panera Bread in the 1st quarter worth about $225,000. 96.66% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have issued reports on PNRA. BidaskClub downgraded shares of Panera Bread from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Panera Bread in a research report on Monday, July 3rd. Finally, Zacks Investment Research raised shares of Panera Bread from a “hold” rating to a “buy” rating and set a $352.00 price objective for the company in a research report on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the stock. Panera Bread has a consensus rating of “Hold” and an average target price of $279.27.
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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