Jupiter Asset Management Ltd. Takes Position in BJ’s Restaurants, Inc. $BJRI

Jupiter Asset Management Ltd. bought a new position in shares of BJ’s Restaurants, Inc. (NASDAQ:BJRI) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 82,354 shares of the restaurant operator’s stock, valued at approximately $2,514,000. Jupiter Asset Management Ltd. owned approximately 0.37% of BJ’s Restaurants at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in BJRI. Ameritas Investment Partners Inc. increased its holdings in BJ’s Restaurants by 18.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,189 shares of the restaurant operator’s stock worth $98,000 after purchasing an additional 334 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of BJ’s Restaurants by 1.8% during the second quarter. Prudential Financial Inc. now owns 23,034 shares of the restaurant operator’s stock valued at $1,027,000 after buying an additional 397 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in BJ’s Restaurants by 6.3% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 7,879 shares of the restaurant operator’s stock worth $241,000 after buying an additional 470 shares in the last quarter. First Trust Advisors LP raised its position in BJ’s Restaurants by 0.9% in the 2nd quarter. First Trust Advisors LP now owns 71,617 shares of the restaurant operator’s stock valued at $3,194,000 after buying an additional 637 shares during the last quarter. Finally, Texas Permanent School Fund Corp raised its position in BJ’s Restaurants by 6.2% in the 2nd quarter. Texas Permanent School Fund Corp now owns 12,511 shares of the restaurant operator’s stock valued at $558,000 after buying an additional 725 shares during the last quarter. Institutional investors own 99.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BJRI shares. Mizuho lifted their price objective on shares of BJ’s Restaurants from $39.00 to $42.00 and gave the stock a “neutral” rating in a report on Friday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $50.00 price objective on shares of BJ’s Restaurants in a research report on Friday, October 31st. Weiss Ratings reissued a “hold (c-)” rating on shares of BJ’s Restaurants in a research report on Monday, December 29th. Benchmark reaffirmed a “buy” rating on shares of BJ’s Restaurants in a report on Tuesday, January 20th. Finally, Sanford C. Bernstein reiterated an “underweight” rating and set a $30.00 price target on shares of BJ’s Restaurants in a report on Friday, October 31st. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, BJ’s Restaurants presently has a consensus rating of “Hold” and an average price target of $40.83.

BJ’s Restaurants Stock Down 1.7%

BJRI opened at $41.20 on Friday. BJ’s Restaurants, Inc. has a twelve month low of $28.46 and a twelve month high of $47.02. The company’s 50-day moving average price is $42.30 and its two-hundred day moving average price is $36.73. The stock has a market cap of $870.97 million, a price-to-earnings ratio of 30.75, a PEG ratio of 1.30 and a beta of 1.33. The company has a quick ratio of 0.30, a current ratio of 0.36 and a debt-to-equity ratio of 0.25.

BJ’s Restaurants announced that its Board of Directors has approved a share buyback plan on Thursday, October 30th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the restaurant operator to purchase up to 11.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, EVP Brian S. Krakower sold 8,017 shares of BJ’s Restaurants stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $39.61, for a total value of $317,553.37. Following the completion of the sale, the executive vice president owned 4,409 shares of the company’s stock, valued at approximately $174,640.49. This trade represents a 64.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 4.30% of the company’s stock.

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.