Panera Bread Co. (NASDAQ:PNRA)‘s stock had its “outperform” rating reiterated by Wedbush in a report released on Saturday. They currently have a $220.00 target price on the stock, down from their prior target price of $250.00. Wedbush’s price target would suggest a potential upside of 15.00% from the stock’s previous close.
Other research analysts also recently issued research reports about the company. Cowen and Company set a $240.00 price target on Panera Bread and gave the company a “buy” rating in a report on Wednesday, July 27th. BTIG Research set a $240.00 price objective on Panera Bread and gave the company a “buy” rating in a research report on Wednesday, July 27th. Vetr cut Panera Bread from a “strong-buy” rating to a “buy” rating and set a $225.00 price objective for the company. in a research report on Tuesday, July 26th. Maxim Group reissued a “buy” rating and set a $230.00 price objective (down previously from $238.00) on shares of Panera Bread in a research report on Monday, July 18th. Finally, Canaccord Genuity began coverage on Panera Bread in a research report on Monday, August 22nd. They set a “buy” rating and a $255.00 price objective for the company. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twenty have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $229.59.
Shares of Panera Bread (NASDAQ:PNRA) traded up 0.26% during midday trading on Friday, reaching $191.31. The company’s stock had a trading volume of 383,860 shares. Panera Bread has a 12 month low of $165.17 and a 12 month high of $224.15. The stock’s 50-day moving average is $201.57 and its 200 day moving average is $210.58. The stock has a market capitalization of $4.51 billion, a P/E ratio of 32.38 and a beta of 0.66.
Panera Bread (NASDAQ:PNRA) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.04. Panera Bread had a return on equity of 34.45% and a net margin of 5.30%. The business had revenue of $698.90 million for the quarter, compared to the consensus estimate of $696.46 million. During the same quarter in the previous year, the company posted $1.61 earnings per share. Panera Bread’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts expect that Panera Bread will post $6.69 earnings per share for the current fiscal year.
In related news, insider Mark D. Wooldridge sold 164 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $222.18, for a total transaction of $36,437.52. Following the sale, the insider now directly owns 1,461 shares in the company, valued at approximately $324,604.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Scott G. Blair sold 228 shares of the stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $218.24, for a total value of $49,758.72. The disclosure for this sale can be found here. Corporate insiders own 6.96% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake in Panera Bread by 16.6% in the first quarter. Renaissance Technologies LLC now owns 270,392 shares of the company’s stock worth $55,384,000 after buying an additional 38,592 shares during the period. Hancock Holding Co. acquired a new stake in Panera Bread during the first quarter worth approximately $13,419,000. Geode Capital Management LLC raised its stake in Panera Bread by 1.7% in the first quarter. Geode Capital Management LLC now owns 147,463 shares of the company’s stock worth $30,204,000 after buying an additional 2,436 shares during the period. Loomis Sayles & Co. L P raised its stake in Panera Bread by 20.6% in the first quarter. Loomis Sayles & Co. L P now owns 12,364 shares of the company’s stock worth $2,533,000 after buying an additional 2,112 shares during the period. Finally, Nicholas Investment Partners LP acquired a new stake in Panera Bread during the first quarter worth approximately $3,746,000. Institutional investors and hedge funds own 92.95% of the company’s stock.
Panera Bread Company Profile
Panera Bread Company (Panera) is a food service provider. Panera is a national bakery-cafe concept with approximately 1,970 Company-owned and franchise-operated bakery-cafe locations in over 45 states, the District of Columbia, and Ontario, Canada. The Company operates through three segments: Company Bakery-Cafe Operations, Franchise Operations, and Fresh Dough and Other Product Operations.
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