New York State Teachers Retirement System grew its stake in BJ’s Restaurants, Inc. (NASDAQ:BJRI) by 7.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,324 shares of the restaurant operator’s stock after purchasing an additional 2,268 shares during the period. New York State Teachers Retirement System owned about 0.15% of BJ’s Restaurants worth $677,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. BNP Paribas Arbitrage SA grew its position in BJ’s Restaurants by 39.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,995 shares of the restaurant operator’s stock worth $111,000 after purchasing an additional 2,251 shares during the last quarter. Jane Street Group LLC acquired a new stake in BJ’s Restaurants in the 4th quarter worth $368,000. AdvisorShares Investments LLC grew its position in BJ’s Restaurants by 8.7% in the 2nd quarter. AdvisorShares Investments LLC now owns 11,709 shares of the restaurant operator’s stock worth $245,000 after purchasing an additional 936 shares during the last quarter. IndexIQ Advisors LLC acquired a new stake in BJ’s Restaurants in the 1st quarter worth $204,000. Finally, Thrivent Financial for Lutherans boosted its position in shares of BJ’s Restaurants by 5.2% during the 1st quarter. Thrivent Financial for Lutherans now owns 16,060 shares of the restaurant operator’s stock valued at $223,000 after acquiring an additional 801 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.
Several analysts have recently weighed in on the stock. Stifel Nicolaus decreased their target price on shares of BJ’s Restaurants from $26.00 to $24.00 and set a “hold” rating on the stock in a research report on Wednesday, April 15th. Jefferies Financial Group lifted their target price on shares of BJ’s Restaurants from $12.00 to $19.00 and gave the company a “hold” rating in a research report on Wednesday, April 22nd. Deutsche Bank reiterated a “hold” rating and set a $27.00 target price on shares of BJ’s Restaurants in a research report on Friday, June 26th. Morgan Stanley lifted their target price on shares of BJ’s Restaurants from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Friday, July 24th. Finally, CL King lifted their target price on shares of BJ’s Restaurants from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, June 17th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. BJ’s Restaurants presently has an average rating of “Hold” and an average target price of $28.65.
BJ’s Restaurants (NASDAQ:BJRI) last announced its earnings results on Thursday, July 23rd. The restaurant operator reported ($0.99) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.81) by $0.82. BJ’s Restaurants had a negative net margin of 1.58% and a negative return on equity of 2.98%. The company had revenue of $128.02 million during the quarter, compared to the consensus estimate of $126.38 million. As a group, equities research analysts forecast that BJ’s Restaurants, Inc. will post -1.88 earnings per share for the current year.
BJ’s Restaurants Company Profile
BJ's Restaurants, Inc owns and operates casual dining restaurants in the United States. Its restaurants offer pizzas, craft and other beers, appetizers, entrées, pastas, sandwiches, specialty salads, and desserts. As of April 16, 2019, the company owned and operated 204 casual dining restaurants that offer dine-in, take-out, delivery, and party catering services in 27 states of Alabama, Arizona, Arkansas, California, Colorado, Florida, Indiana, Kansas, Kentucky, Louisiana, Maryland, Michigan, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia, and Washington.
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