M&T Bank Corp Sells 3,446 Shares of Panera Bread Co (PNRA)
M&T Bank Corp cut its stake in Panera Bread Co (NASDAQ:PNRA) by 69.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,540 shares of the company’s stock after selling 3,446 shares during the quarter. M&T Bank Corp’s holdings in Panera Bread were worth $484,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of PNRA. JPMorgan Chase & Co. increased its stake in shares of Panera Bread by 140.4% in the 1st quarter. JPMorgan Chase & Co. now owns 46,526 shares of the company’s stock worth $12,184,000 after acquiring an additional 27,171 shares during the last quarter. Stifel Financial Corp increased its stake in shares of Panera Bread by 12.1% in the 1st quarter. Stifel Financial Corp now owns 2,521 shares of the company’s stock worth $662,000 after acquiring an additional 272 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Panera Bread by 178.8% in the 1st quarter. SG Americas Securities LLC now owns 3,942 shares of the company’s stock worth $1,032,000 after acquiring an additional 2,528 shares during the last quarter. Neuberger Berman Group LLC acquired a new stake in shares of Panera Bread in the 1st quarter worth $225,000. Finally, Cornerstone Capital Management Holdings LLC. increased its stake in shares of Panera Bread by 120.7% in the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 6,967 shares of the company’s stock worth $1,823,000 after acquiring an additional 3,810 shares during the last quarter. 96.66% of the stock is owned by institutional investors and hedge funds.
A number of analysts have issued reports on PNRA shares. BidaskClub raised Panera Bread from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Panera Bread in a research note on Monday, July 3rd. Finally, Zacks Investment Research raised Panera Bread from a “hold” rating to a “buy” rating and set a $352.00 target price for the company in a research note on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $279.27.
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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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