BJ’s Restaurants, Inc. $BJRI Position Lifted by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in BJ’s Restaurants, Inc. (NASDAQ:BJRI) by 433.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,324 shares of the restaurant operator’s stock after purchasing an additional 15,700 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in BJ’s Restaurants were worth $1,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in BJRI. Bank of America Corp DE acquired a new position in BJ’s Restaurants during the second quarter worth $9,476,000. Legal & General Group Plc purchased a new stake in BJ’s Restaurants in the 2nd quarter valued at $2,697,000. Bank of New York Mellon Corp acquired a new stake in shares of BJ’s Restaurants in the 2nd quarter worth $7,516,000. Canada Pension Plan Investment Board acquired a new stake in shares of BJ’s Restaurants in the 2nd quarter worth $1,713,000. Finally, Burney Co. purchased a new position in shares of BJ’s Restaurants during the 1st quarter worth $3,990,000. Institutional investors and hedge funds own 99.95% of the company’s stock.

BJ’s Restaurants Trading Up 1.9%

BJRI opened at $61.75 on Thursday. BJ’s Restaurants, Inc. has a 52 week low of $33.36 and a 52 week high of $74.60. The business has a fifty day simple moving average of $60.51 and a 200-day simple moving average of $51.16. The firm has a market cap of $1.31 billion, a P/E ratio of 27.43, a P/E/G ratio of 1.84 and a beta of 1.46. The company has a quick ratio of 0.22, a current ratio of 0.29 and a debt-to-equity ratio of 0.11.

Insider Buying and Selling

In other BJ’s Restaurants news, Director Noah A. Elbogen sold 7,535 shares of BJ’s Restaurants stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $70.14, for a total value of $528,504.90. Following the completion of the transaction, the director directly owned 71,655 shares of the company’s stock, valued at $5,025,881.70. The trade was a 9.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director C Richmond bought 753 shares of the company’s stock in a transaction on Monday, August 31st. The stock was purchased at an average cost of $63.25 per share, with a total value of $47,627.25. Following the completion of the transaction, the director owned 35,500 shares in the company, valued at $2,245,375. This represents a 2.17% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BJRI. Weiss Ratings raised shares of BJ’s Restaurants from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 2nd. DA Davidson set a $65.00 target price on shares of BJ’s Restaurants in a research note on Friday, July 31st. Benchmark lifted their target price on shares of BJ’s Restaurants from $68.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Citigroup decreased their target price on shares of BJ’s Restaurants from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, October 23rd. Finally, Mizuho raised shares of BJ’s Restaurants from a “neutral” rating to an “outperform” rating and increased their price target for the company from $74.00 to $76.00 in a research note on Thursday, October 1st. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $62.00.

BJ’s Restaurants Company Profile

BJ’s Restaurants, Inc (NASDAQ: BJRI) operates and develops casual dining restaurants under the BJ’s Restaurant & Brewhouse brand. Its restaurants offer a broad menu centered on deep-dish pizza, along with appetizers, salads, sandwiches, burgers, entrees, desserts and other American-style dishes.

The company is also known for producing and serving craft beer, including its proprietary BJ’s beers, at many of its locations. Its restaurants typically combine full-service dining with a brewery-inspired atmosphere and offer dine-in, takeout, delivery and catering services, depending on the location.

BJ’s traces its origins to 1978, when the first restaurant opened in Southern California.