Public Employees Retirement Association of Colorado decreased its stake in Panera Bread Co (NASDAQ:PNRA) by 0.8% during the second quarter, Holdings Channel reports. The firm owned 5,078 shares of the company’s stock after selling 42 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Panera Bread were worth $1,598,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Balasa Dinverno & Foltz LLC bought a new position in shares of Panera Bread during the second quarter valued at about $451,000. Longfellow Investment Management Co. LLC bought a new position in shares of Panera Bread during the second quarter valued at about $7,679,000. Oakbrook Investments LLC bought a new position in shares of Panera Bread during the second quarter valued at about $294,000. US Bancorp DE increased its position in shares of Panera Bread by 0.3% in the second quarter. US Bancorp DE now owns 5,283 shares of the company’s stock valued at $1,663,000 after buying an additional 14 shares during the period. Finally, State Treasurer State of Michigan increased its position in shares of Panera Bread by 1.1% in the second quarter. State Treasurer State of Michigan now owns 8,800 shares of the company’s stock valued at $2,769,000 after buying an additional 100 shares during the period. Institutional investors own 96.66% of the company’s stock.

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Several brokerages have recently issued reports on PNRA. BidaskClub downgraded shares of Panera Bread from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Zacks Investment Research upgraded shares of Panera Bread from a “hold” rating to a “buy” rating and set a $352.00 price target for the company in a report on Tuesday, July 4th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Panera Bread in a report on Monday, July 3rd. Finally, Canaccord Genuity downgraded shares of Panera Bread from a “buy” rating to a “hold” rating and set a $315.00 price target for the company. in a report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the stock. Panera Bread has a consensus rating of “Hold” and an average target price of $278.35.

About Panera Bread

Panera Bread Company is a food service company. The Company is a national bakery-cafe concept. As of December 27, 2016, the Company operated 2,036 own and franchise-operated bakery-cafe locations in 46 states, the District of Columbia, and Ontario, Canada. It operates through three segments: Company bakery-cafe operations, franchise operations, and fresh dough and other product operations.

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Institutional Ownership by Quarter for Panera Bread (NASDAQ:PNRA)

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