Empowered Funds LLC Takes $5.89 Million Position in BJ’s Restaurants, Inc. $BJRI

Empowered Funds LLC purchased a new stake in shares of BJ’s Restaurants, Inc. (NASDAQ:BJRI) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 97,007 shares of the restaurant operator’s stock, valued at approximately $5,892,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio bought a new position in BJ’s Restaurants in the 2nd quarter valued at approximately $28,000. Bank of America Corp DE acquired a new position in shares of BJ’s Restaurants during the second quarter worth $9,476,000. Jupiter Topco LLC acquired a new position in shares of BJ’s Restaurants during the second quarter worth $326,000. Meros Investment Management LP bought a new position in shares of BJ’s Restaurants in the 2nd quarter valued at $8,715,047. Finally, Hsbc Holdings PLC bought a new position in shares of BJ’s Restaurants in the 2nd quarter valued at $294,000. 99.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Gregory S. Lynds sold 25,350 shares of BJ’s Restaurants stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $67.47, for a total value of $1,710,364.50. Following the transaction, the executive vice president directly owned 46,474 shares of the company’s stock, valued at $3,135,600.78. The trade was a 35.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kendra D. Miller sold 19,261 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $55.60, for a total value of $1,070,911.60. Following the completion of the sale, the executive vice president owned 28,599 shares in the company, valued at $1,590,104.40. The trade was a 40.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 124,077 shares of company stock valued at $7,676,952 over the last three months. 2.40% of the stock is owned by insiders.

BJ’s Restaurants Stock Performance

Shares of BJ’s Restaurants stock opened at $65.12 on Monday. The company has a quick ratio of 0.22, a current ratio of 0.29 and a debt-to-equity ratio of 0.11. BJ’s Restaurants, Inc. has a twelve month low of $28.46 and a twelve month high of $74.60. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 34.82, a P/E/G ratio of 1.96 and a beta of 1.31. The company’s fifty day moving average is $64.36 and its 200 day moving average is $48.91.

BJ’s Restaurants (NASDAQ:BJRI) last announced its earnings results on Thursday, July 30th. The restaurant operator reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.04. The business had revenue of $388.89 million during the quarter, compared to analyst estimates of $377.07 million. BJ’s Restaurants had a return on equity of 12.93% and a net margin of 2.86%.BJ’s Restaurants’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $0.97 EPS. Sell-side analysts forecast that BJ’s Restaurants, Inc. will post 2.37 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BJRI shares. DA Davidson set a $65.00 price objective on BJ’s Restaurants in a report on Friday, July 31st. Citigroup increased their target price on BJ’s Restaurants from $68.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, July 31st. Weiss Ratings upgraded BJ’s Restaurants from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, August 21st. Benchmark boosted their price target on BJ’s Restaurants from $68.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, Barclays lowered their price objective on BJ’s Restaurants from $42.00 to $38.00 and set an “underweight” rating for the company in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, BJ’s Restaurants has a consensus rating of “Hold” and a consensus price target of $56.88.

BJ’s Restaurants Profile

BJ’s Restaurants, Inc is a publicly traded casual dining chain known for its deep?dish pizzas, California?style thin crust offerings and in?house craft beer selections. Operating under the BJ’s Restaurant & Brewhouse brand, the company combines a microbrewery concept with full?service dining, offering an extensive menu that includes appetizers, salads, pasta dishes, sandwiches and the signature Pizookie dessert.

Founded in 1978 in Orange County, California, BJ’s Restaurants began as BJ’s Chicago Pizzeria, bringing a Chicago?style pizza experience to the West Coast.