Panera Bread Co (NASDAQ:PNRA) has been given an average rating of “Buy” by the twenty-five brokerages that are presently covering the firm. Three analysts have rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $246.35.
Several research analysts have issued reports on the stock. Vetr cut shares of Panera Bread from a “hold” rating to a “sell” rating in a report on Friday. Cowen and Company reaffirmed an “outperform” rating and issued a $270.00 target price (up from $265.00) on shares of Panera Bread in a report on Friday. Maxim Group reaffirmed a “buy” rating on shares of Panera Bread in a report on Wednesday, March 15th. Canaccord Genuity reaffirmed a “buy” rating and issued a $270.00 target price on shares of Panera Bread in a report on Friday, February 24th. Finally, Robert W. Baird reaffirmed an “outperform” rating on shares of Panera Bread in a report on Thursday, February 16th.
A number of hedge funds have recently made changes to their positions in PNRA. Artisan Partners Limited Partnership acquired a new stake in shares of Panera Bread during the fourth quarter valued at about $69,996,000. Victory Capital Management Inc. raised its stake in shares of Panera Bread by 14,891.0% in the third quarter. Victory Capital Management Inc. now owns 319,458 shares of the company’s stock valued at $62,205,000 after buying an additional 317,327 shares during the period. Capital Research Global Investors raised its stake in shares of Panera Bread by 18.7% in the third quarter. Capital Research Global Investors now owns 1,907,240 shares of the company’s stock valued at $371,378,000 after buying an additional 300,000 shares during the period. Old Mutual Global Investors UK Ltd. raised its stake in shares of Panera Bread by 363.9% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 354,240 shares of the company’s stock valued at $68,977,000 after buying an additional 277,871 shares during the period. Finally, Norges Bank acquired a new stake in shares of Panera Bread during the fourth quarter valued at about $48,169,000. Institutional investors own 93.32% of the company’s stock.
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Shares of Panera Bread (NASDAQ:PNRA) opened at 238.61 on Thursday. The company’s 50 day moving average is $227.62 and its 200-day moving average is $210.45. The stock has a market capitalization of $5.40 billion, a PE ratio of 38.61 and a beta of 0.31. Panera Bread has a 52 week low of $185.69 and a 52 week high of $239.76.
Panera Bread (NASDAQ:PNRA) last issued its earnings results on Tuesday, February 7th. The company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.05. The business earned $727.11 million during the quarter, compared to analysts’ expectations of $727.75 million. Panera Bread had a net margin of 5.21% and a return on equity of 42.93%. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.88 earnings per share. On average, equities analysts predict that Panera Bread will post $7.69 earnings per share for the current year.
About Panera Bread
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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