1st Global Advisors Inc. reduced its stake in Panera Bread Co (NASDAQ:PNRA) by 41.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,294 shares of the company’s stock after selling 924 shares during the quarter. 1st Global Advisors Inc.’s holdings in Panera Bread were worth $407,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of PNRA. FNY Managed Accounts LLC acquired a new stake in Panera Bread in the 1st quarter worth approximately $156,000. Krilogy Financial LLC lifted its holdings in shares of Panera Bread by 13.2% during the second quarter. Krilogy Financial LLC now owns 601 shares of the company’s stock worth $189,000 after buying an additional 70 shares during the last quarter. BT Investment Management Ltd acquired a new position in shares of Panera Bread during the second quarter worth approximately $203,000. United Capital Financial Advisers LLC acquired a new position in shares of Panera Bread during the first quarter worth approximately $206,000. Finally, Neuberger Berman Group LLC acquired a new position in shares of Panera Bread during the first quarter worth approximately $225,000. Hedge funds and other institutional investors own 96.66% of the company’s stock.
A number of brokerages have recently commented on PNRA. BidaskClub lowered Panera Bread from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Panera Bread in a report on Monday, July 3rd. Finally, Zacks Investment Research upgraded Panera Bread from a “hold” rating to a “buy” rating and set a $352.00 price target for the company in a report on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the stock. Panera Bread currently has a consensus rating of “Hold” and an average target price of $283.69.
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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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