BT Investment Management Ltd Invests $203,000 in Panera Bread Co (PNRA)
BT Investment Management Ltd bought a new stake in shares of Panera Bread Co (NASDAQ:PNRA) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 645 shares of the company’s stock, valued at approximately $203,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in PNRA. FNY Managed Accounts LLC bought a new position in shares of Panera Bread during the first quarter valued at approximately $156,000. United Capital Financial Advisers LLC bought a new position in shares of Panera Bread during the first quarter valued at approximately $206,000. PICTET BANK & TRUST Ltd bought a new position in shares of Panera Bread during the first quarter valued at approximately $209,000. Neuberger Berman Group LLC bought a new position in Panera Bread in the first quarter worth approximately $225,000. Finally, Forte Capital LLC ADV bought a new position in Panera Bread in the second quarter worth approximately $225,000. 96.66% of the stock is currently owned by hedge funds and other institutional investors.
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Several research analysts recently issued reports on PNRA shares. BidaskClub cut Panera Bread from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Zacks Investment Research raised Panera Bread from a “hold” rating to a “buy” rating and set a $352.00 price objective on the stock in a research note on Tuesday, July 4th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Panera Bread in a research note on Monday, July 3rd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $279.27.
Panera Bread 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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