Panera Bread Co (PNRA) Stake Increased by Thrivent Financial For Lutherans
Thrivent Financial For Lutherans grew its stake in shares of Panera Bread Co (NASDAQ:PNRA) by 7.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,310 shares of the company’s stock after acquiring an additional 310 shares during the quarter. Thrivent Financial For Lutherans’ holdings in Panera Bread were worth $1,356,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in PNRA. FNY Managed Accounts LLC bought a new stake in shares of Panera Bread in the first quarter worth approximately $156,000. BT Investment Management Ltd purchased a new position in shares of Panera Bread during the second quarter valued at approximately $203,000. United Capital Financial Advisers LLC purchased a new position in shares of Panera Bread during the first quarter valued at approximately $206,000. Neuberger Berman Group LLC purchased a new position in shares of Panera Bread during the first quarter valued at approximately $225,000. Finally, Forte Capital LLC ADV purchased a new position in shares of Panera Bread during the second quarter valued at approximately $225,000. 96.66% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on PNRA. Sanford C. Bernstein restated an “outperform” rating on shares of Panera Bread in a research report on Monday, July 3rd. BidaskClub downgraded shares of Panera Bread from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Finally, Zacks Investment Research raised shares of Panera Bread from a “hold” rating to a “buy” rating and set a $352.00 target price for the company in a research report on Tuesday, July 4th. 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 company. The stock currently has a consensus rating of “Hold” and an average target price of $279.27.
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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