Bojangles’, Inc. (BOJA) Position Lifted by Vanguard Group Inc.
Vanguard Group Inc. increased its holdings in shares of Bojangles’, Inc. (NASDAQ:BOJA) by 9.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,362,803 shares of the restaurant operator’s stock after acquiring an additional 118,281 shares during the period. Vanguard Group Inc. owned approximately 3.68% of Bojangles’ worth $22,145,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in BOJA. Bank of New York Mellon Corp grew its holdings in Bojangles’ by 12.7% during the first quarter. Bank of New York Mellon Corp now owns 109,736 shares of the restaurant operator’s stock worth $2,249,000 after acquiring an additional 12,389 shares during the period. Swiss National Bank grew its holdings in Bojangles’ by 21.5% during the first quarter. Swiss National Bank now owns 27,100 shares of the restaurant operator’s stock worth $556,000 after acquiring an additional 4,800 shares during the period. Parametric Portfolio Associates LLC grew its holdings in Bojangles’ by 21.9% in the first quarter. Parametric Portfolio Associates LLC now owns 28,153 shares of the restaurant operator’s stock valued at $577,000 after purchasing an additional 5,062 shares during the last quarter. American International Group Inc. grew its holdings in Bojangles’ by 7.0% in the first quarter. American International Group Inc. now owns 6,030 shares of the restaurant operator’s stock valued at $124,000 after purchasing an additional 392 shares during the last quarter. Finally, Alliancebernstein L.P. acquired a new stake in Bojangles’ in the first quarter valued at $215,000. 91.48% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Bojangles’, Inc. (NASDAQ BOJA) opened at $12.20 on Tuesday. Bojangles’, Inc. has a 12-month low of $11.60 and a 12-month high of $22.35. The stock has a market capitalization of $450.39, a price-to-earnings ratio of 13.81, a PEG ratio of 1.38 and a beta of 1.91. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.64 and a quick ratio of 0.56.
Bojangles’ (NASDAQ:BOJA) last released its earnings results on Wednesday, November 1st. The restaurant operator reported $0.17 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.17. Bojangles’ had a return on equity of 15.11% and a net margin of 6.13%. The firm had revenue of $133.40 million for the quarter, compared to the consensus estimate of $133.88 million. During the same period in the prior year, the business posted $0.25 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. sell-side analysts anticipate that Bojangles’, Inc. will post 0.78 EPS for the current fiscal year.
Bojangles’ declared that its board has authorized a stock buyback program on Wednesday, November 1st that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the restaurant operator to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
Several analysts have weighed in on BOJA shares. Stephens lowered Bojangles’ from an “overweight” rating to an “equal weight” rating in a report on Wednesday, October 11th. Barclays PLC lowered their target price on Bojangles’ from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 18th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $16.00 target price (down previously from $20.00) on shares of Bojangles’ in a report on Sunday, July 30th. SunTrust Banks, Inc. reissued a “buy” rating and issued a $21.00 target price on shares of Bojangles’ in a report on Thursday, October 12th. Finally, Zacks Investment Research lowered Bojangles’ from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $17.38.
Bojangles’, Inc is a restaurant operator and franchisor. The Company offers food made from its Southern recipes. The Company’s menu includes its made-from-scratch, buttermilk biscuits baked fresh every 20 minutes; its fresh, never-frozen bone-in fried chicken; its fixin’s; its Bo-Smart menu featuring items, such as salads, grilled chicken sandwiches, roasted chicken bites and fat-free green beans; its freshly baked and delicious sweets menu, and its Legendary Iced Tea.
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