GW&K Investment Management LLC Grows Position in BJ’s Restaurants, Inc. (NASDAQ:BJRI)
GW&K Investment Management LLC grew its stake in shares of BJ’s Restaurants, Inc. (NASDAQ:BJRI) by 23.3% in the second quarter, HoldingsChannel.com reports. The firm owned 436,099 shares of the restaurant operator’s stock after buying an additional 82,543 shares during the quarter. GW&K Investment Management LLC’s holdings in BJ’s Restaurants were worth $19,162,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its stake in shares of BJ’s Restaurants by 36.2% during the first quarter. Victory Capital Management Inc. now owns 7,173 shares of the restaurant operator’s stock valued at $339,000 after purchasing an additional 1,905 shares during the period. Fox Run Management L.L.C. purchased a new stake in BJ’s Restaurants in the second quarter worth $272,000. Bessemer Group Inc. lifted its stake in BJ’s Restaurants by 2.5% in the second quarter. Bessemer Group Inc. now owns 83,109 shares of the restaurant operator’s stock worth $3,652,000 after acquiring an additional 2,005 shares during the period. Kornitzer Capital Management Inc. KS purchased a new stake in BJ’s Restaurants in the second quarter worth $6,981,000. Finally, Marshall Wace LLP lifted its stake in BJ’s Restaurants by 141.1% in the first quarter. Marshall Wace LLP now owns 566,293 shares of the restaurant operator’s stock worth $26,774,000 after acquiring an additional 331,443 shares during the period.
In other news, Director Gerald W. Deitchle acquired 3,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was acquired at an average price of $33.81 per share, for a total transaction of $101,430.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Greg Trojan purchased 14,400 shares of BJ’s Restaurants stock in a transaction dated Thursday, August 15th. The shares were bought at an average price of $32.92 per share, with a total value of $474,048.00. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by corporate insiders.
BJ’s Restaurants (NASDAQ:BJRI) last posted its quarterly earnings data on Thursday, July 25th. The restaurant operator reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.06). The firm had revenue of $301.09 million during the quarter, compared to the consensus estimate of $300.35 million. BJ’s Restaurants had a return on equity of 14.63% and a net margin of 4.05%. BJ’s Restaurants’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.79 EPS. On average, equities research analysts predict that BJ’s Restaurants, Inc. will post 1.97 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Monday, August 12th will be issued a $0.12 dividend. The ex-dividend date is Friday, August 9th. This represents a $0.48 dividend on an annualized basis and a yield of 1.31%. BJ’s Restaurants’s dividend payout ratio (DPR) is 20.43%.
A number of brokerages recently commented on BJRI. Maxim Group reaffirmed a “buy” rating and issued a $55.00 price target (down previously from $59.00) on shares of BJ’s Restaurants in a research note on Friday, July 26th. Piper Jaffray Companies dropped their price target on BJ’s Restaurants from $70.00 to $56.00 and set an “overweight” rating for the company in a research note on Friday, July 26th. Barclays set a $32.00 price target on BJ’s Restaurants and gave the stock a “sell” rating in a research note on Friday, July 26th. Stifel Nicolaus dropped their price target on BJ’s Restaurants from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Finally, Zacks Investment Research lowered BJ’s Restaurants from a “buy” rating to a “hold” rating in a research note on Monday, May 20th. Four analysts have rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $50.67.
About BJ’s Restaurants
BJ's Restaurants, Inc owns and operates casual dining restaurants in the United States. Its restaurants offer pizzas, craft and other beers, appetizers, entrées, pastas, sandwiches, specialty salads, and desserts. As of April 16, 2019, the company owned and operated 204 casual dining restaurants that offer dine-in, take-out, delivery, and party catering services in 27 states of Alabama, Arizona, Arkansas, California, Colorado, Florida, Indiana, Kansas, Kentucky, Louisiana, Maryland, Michigan, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia, and Washington.
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