Great Lakes Advisors LLC reduced its holdings in BJ’s Restaurants, Inc. (NASDAQ:BJRI – Free Report) by 15.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 111,573 shares of the restaurant operator’s stock after selling 19,905 shares during the quarter. Great Lakes Advisors LLC’s holdings in BJ’s Restaurants were worth $3,548,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in BJ’s Restaurants by 37.2% during the 1st quarter. JPMorgan Chase & Co. now owns 30,829 shares of the restaurant operator’s stock worth $873,000 after buying an additional 8,363 shares during the period. Citigroup Inc. boosted its stake in BJ’s Restaurants by 19.2% in the 1st quarter. Citigroup Inc. now owns 21,113 shares of the restaurant operator’s stock worth $598,000 after purchasing an additional 3,404 shares during the period. Bank of Montreal Can boosted its stake in BJ’s Restaurants by 23.4% in the 1st quarter. Bank of Montreal Can now owns 7,502 shares of the restaurant operator’s stock worth $210,000 after purchasing an additional 1,423 shares during the period. MetLife Investment Management LLC raised its stake in shares of BJ’s Restaurants by 57.0% in the 1st quarter. MetLife Investment Management LLC now owns 14,264 shares of the restaurant operator’s stock valued at $404,000 after purchasing an additional 5,181 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of BJ’s Restaurants by 3.3% in the 1st quarter. Rhumbline Advisers now owns 60,302 shares of the restaurant operator’s stock valued at $1,707,000 after purchasing an additional 1,941 shares during the period. Institutional investors and hedge funds own 99.95% of the company’s stock.
Analyst Upgrades and Downgrades
BJRI has been the subject of a number of research reports. Citigroup decreased their price objective on BJ’s Restaurants from $40.00 to $29.00 and set a “neutral” rating for the company in a report on Tuesday, October 24th. Barclays reduced their target price on shares of BJ’s Restaurants from $31.00 to $23.00 and set an “underweight” rating for the company in a report on Monday, October 23rd. Robert W. Baird lifted their price target on shares of BJ’s Restaurants from $28.00 to $36.00 and gave the company a “neutral” rating in a research note on Friday, July 28th. Piper Sandler increased their price objective on shares of BJ’s Restaurants from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Wedbush reiterated an “outperform” rating and set a $33.00 target price on shares of BJ’s Restaurants in a report on Wednesday, November 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $35.20.
BJ’s Restaurants Stock Performance
NASDAQ:BJRI opened at $30.88 on Tuesday. BJ’s Restaurants, Inc. has a fifty-two week low of $21.64 and a fifty-two week high of $37.83. The company has a 50 day simple moving average of $25.34 and a two-hundred day simple moving average of $29.52. The company has a market capitalization of $717.65 million, a PE ratio of 46.79, a P/E/G ratio of 2.72 and a beta of 1.95. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.26 and a current ratio of 0.34.
BJ’s Restaurants (NASDAQ:BJRI – Get Free Report) last issued its quarterly earnings data on Thursday, October 26th. The restaurant operator reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.15). BJ’s Restaurants had a return on equity of 4.37% and a net margin of 1.15%. The company had revenue of $318.64 million for the quarter, compared to the consensus estimate of $325.54 million. Research analysts anticipate that BJ’s Restaurants, Inc. will post 0.76 earnings per share for the current year.
About BJ’s Restaurants
BJ's Restaurants, Inc owns and operates casual dining restaurants in the United States. The company's restaurants offer pizzas, craft and other beers, appetizers, entrées, pastas, sandwiches, specialty salads, and desserts. BJ's Restaurants, Inc was founded in 1978 and is based in Huntington Beach, California.
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