William Blair Comments on Panera Bread Co.’s Q4 2016 Earnings (PNRA)
Panera Bread Co. (NASDAQ:PNRA) – William Blair cut their Q4 2016 EPS estimates for shares of Panera Bread in a research report issued on Tuesday. William Blair analyst S. Zackfia now forecasts that the brokerage will post earnings per share of $1.98 for the quarter, down from their previous estimate of $2.01. William Blair also issued estimates for Panera Bread’s FY2017 earnings at $7.44 EPS.
Panera Bread (NASDAQ:PNRA) last announced its earnings results on Tuesday, July 26th. The company reported $1.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.74 by $0.04. Panera Bread had a return on equity of 34.45% and a net margin of 5.30%. The business earned $698.90 million during the quarter, compared to analysts’ expectations of $696.46 million. During the same quarter last year, the business posted $1.61 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis.
A number of other analysts also recently commented on the company. Wedbush reiterated an “outperform” rating and issued a $220.00 price objective (down previously from $250.00) on shares of Panera Bread in a research report on Saturday. Longbow Research upgraded Panera Bread from a “neutral” rating to a “buy” rating and set a $239.00 price objective for the company in a research report on Monday, October 10th. Maxim Group raised their price objective on Panera Bread from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, September 29th. Vetr downgraded Panera Bread from a “strong-buy” rating to a “hold” rating and set a $202.50 price objective for the company. in a research report on Wednesday, September 21st. Finally, Robert W. Baird reiterated an “outperform” rating on shares of Panera Bread in a research report on Thursday, September 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $229.59.
Shares of Panera Bread (NASDAQ:PNRA) traded up 2.05% on Wednesday, reaching $196.15. The company had a trading volume of 378,580 shares. The firm has a market cap of $4.62 billion, a P/E ratio of 33.20 and a beta of 0.66. The company has a 50-day moving average price of $200.58 and a 200-day moving average price of $210.40. Panera Bread has a one year low of $165.17 and a one year high of $224.15.
In related news, SVP Scott G. Blair sold 202 shares of the company’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $217.95, for a total transaction of $44,025.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark D. Wooldridge sold 164 shares of the company’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $222.18, for a total value of $36,437.52. Following the sale, the insider now owns 1,461 shares in the company, valued at approximately $324,604.98. The disclosure for this sale can be found here. 6.96% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in PNRA. Calvert Investment Management Inc. increased its position in shares of Panera Bread by 0.4% in the second quarter. Calvert Investment Management Inc. now owns 1,411 shares of the company’s stock worth $299,000 after buying an additional 5 shares during the period. Moody Lynn & Lieberson LLC increased its position in shares of Panera Bread by 1.2% in the second quarter. Moody Lynn & Lieberson LLC now owns 1,822 shares of the company’s stock worth $386,000 after buying an additional 22 shares during the period. M&T Bank Corp increased its position in shares of Panera Bread by 0.8% in the first quarter. M&T Bank Corp now owns 3,455 shares of the company’s stock worth $708,000 after buying an additional 29 shares during the period. Krilogy Financial LLC increased its position in shares of Panera Bread by 8.6% in the second quarter. Krilogy Financial LLC now owns 630 shares of the company’s stock worth $134,000 after buying an additional 50 shares during the period. Finally, IFP Advisors Inc increased its position in shares of Panera Bread by 8.6% in the second quarter. IFP Advisors Inc now owns 745 shares of the company’s stock worth $158,000 after buying an additional 59 shares during the period. 92.89% of the stock is currently owned by hedge funds and other institutional investors.
Panera Bread Company Profile
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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