State Street Corp cut its stake in shares of Panera Bread Co (NASDAQ:PNRA) by 1.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 573,919 shares of the company’s stock after selling 9,210 shares during the period. State Street Corp’s holdings in Panera Bread were worth $180,574,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Panera Bread by 13,517.9% during the first quarter. BlackRock Inc. now owns 1,758,482 shares of the company’s stock valued at $460,494,000 after purchasing an additional 1,745,569 shares in the last quarter. Vanguard Group Inc. lifted its position in Panera Bread by 1.2% during the second quarter. Vanguard Group Inc. now owns 1,724,662 shares of the company’s stock valued at $542,648,000 after purchasing an additional 20,513 shares in the last quarter. BlueMountain Capital Management LLC purchased a new position in Panera Bread during the second quarter valued at $136,868,000. Pentwater Capital Management LP purchased a new position in Panera Bread during the second quarter valued at $102,258,000. Finally, Alpine Associates Management Inc. purchased a new position in Panera Bread during the second quarter valued at $93,567,000. Institutional investors own 96.66% of the company’s stock.

Several research firms recently weighed in on PNRA. BidaskClub downgraded Panera Bread from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Panera Bread in a research report on Monday, July 3rd. Finally, Zacks Investment Research upgraded Panera Bread from a “hold” rating to a “buy” rating and set a $352.00 target price on the stock in a research report on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $281.39.

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Panera Bread 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.

Institutional Ownership by Quarter for Panera Bread (NASDAQ:PNRA)

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