Shares of Panera Bread Co. (NASDAQ:PNRA) gapped up prior to trading on Friday . The stock had previously closed at $209.00, but opened at $209.95. Panera Bread shares last traded at $214.69, with a volume of 277,767 shares.

PNRA has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Panera Bread from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. Vetr lowered shares of Panera Bread from a “buy” rating to a “hold” rating and set a $226.59 price objective for the company. in a report on Monday, May 30th. Telsey Advisory Group raised their price objective on shares of Panera Bread from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, May 2nd. BMO Capital Markets restated a “hold” rating on shares of Panera Bread in a report on Thursday, April 28th. Finally, Jefferies Group upgraded shares of Panera Bread from a “hold” rating to a “buy” rating and raised their price objective for the stock from $195.00 to $245.00 in a report on Tuesday, April 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $222.30.

The stock’s 50 day moving average price is $212.37 and its 200 day moving average price is $206.84. The firm has a market capitalization of $5.20 billion and a PE ratio of 35.61.

Panera Bread (NASDAQ:PNRA) last posted its earnings results on Tuesday, April 26th. The company reported $1.56 EPS for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.06. The firm had revenue of $685.10 million for the quarter, compared to analysts’ expectations of $674.12 million. The company’s revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.41 EPS. On average, analysts forecast that Panera Bread Co. will post $6.68 earnings per share for the current year.

In other Panera Bread news, SVP William Henry Jr. Simpson sold 650 shares of the firm’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $218.74, for a total value of $142,181.00. Following the completion of the transaction, the senior vice president now owns 4,171 shares of the company’s stock, valued at $912,364.54. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman William W. Moreton sold 1,500 shares of the firm’s stock in a transaction on Monday, June 20th. The stock was sold at an average price of $212.33, for a total transaction of $318,495.00. Following the completion of the transaction, the chairman now directly owns 14,656 shares of the company’s stock, valued at approximately $3,111,908.48. The disclosure for this sale can be found here.

Several hedge funds and institutional investors recently bought and sold shares of PNRA. Cambridge Investment Research Advisors Inc. boosted its position in Panera Bread by 6.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 5,384 shares of the company’s stock worth $1,049,000 after buying an additional 308 shares in the last quarter. Comerica Bank boosted its position in Panera Bread by 1.3% in the fourth quarter. Comerica Bank now owns 24,285 shares of the company’s stock worth $4,553,000 after buying an additional 319 shares in the last quarter. Wells Fargo & Company MN boosted its position in Panera Bread by 0.8% in the fourth quarter. Wells Fargo & Company MN now owns 129,757 shares of the company’s stock worth $25,276,000 after buying an additional 1,010 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Panera Bread by 26.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,238 shares of the company’s stock worth $1,215,000 after buying an additional 1,323 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its position in Panera Bread by 39.1% in the fourth quarter. GSA Capital Partners LLP now owns 5,180 shares of the company’s stock worth $1,009,000 after buying an additional 1,455 shares in the last quarter.

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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