Russell Investments Group Ltd. Sells 200,996 Shares of Panera Bread Co (PNRA)
Russell Investments Group Ltd. reduced its position in shares of Panera Bread Co (NASDAQ:PNRA) by 99.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,407 shares of the company’s stock after selling 200,996 shares during the period. Russell Investments Group Ltd.’s holdings in Panera Bread were worth $443,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of PNRA. BlackRock Inc. lifted its position in shares of Panera Bread by 13,517.9% during the first quarter. BlackRock Inc. now owns 1,758,482 shares of the company’s stock worth $460,494,000 after purchasing an additional 1,745,569 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Panera Bread during the first quarter worth $167,317,000. Renaissance Technologies LLC lifted its position in shares of Panera Bread by 1,832.4% during the first quarter. Renaissance Technologies LLC now owns 115,792 shares of the company’s stock worth $30,322,000 after purchasing an additional 109,800 shares in the last quarter. Chicago Capital Management LLC acquired a new position in shares of Panera Bread during the second quarter worth $32,153,000. Finally, Bank of Montreal Can lifted its position in shares of Panera Bread by 336.7% during the second quarter. Bank of Montreal Can now owns 92,213 shares of the company’s stock worth $29,016,000 after purchasing an additional 71,097 shares in the last quarter. 96.66% of the stock is currently owned by institutional investors and hedge funds.
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A number of research firms have recently commented on PNRA. Sanford C. Bernstein reissued an “outperform” rating on shares of Panera Bread in a research report on Monday, July 3rd. BidaskClub raised shares of Panera Bread from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Finally, Zacks Investment Research raised shares of Panera Bread from a “hold” rating to a “buy” rating and set a $352.00 target price on the stock in a research report on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Panera Bread presently has an average rating of “Hold” and an average target price of $279.27.
Panera Bread Company Profile
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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