MainStreet Investment Advisors LLC acquired a new stake in shares of BJ’s Restaurants (NASDAQ:BJRI) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 38,608 shares of the restaurant operator’s stock, valued at approximately $1,405,000. MainStreet Investment Advisors LLC owned 0.19% of BJ’s Restaurants at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of BJRI. Victory Capital Management Inc. lifted its stake in shares of BJ’s Restaurants by 41.5% during the 3rd quarter. Victory Capital Management Inc. now owns 6,214 shares of the restaurant operator’s stock valued at $189,000 after buying an additional 1,823 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in BJ’s Restaurants by 59.5% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 7,020 shares of the restaurant operator’s stock worth $214,000 after purchasing an additional 2,620 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in BJ’s Restaurants in the 4th quarter worth $230,000. Stone Ridge Asset Management LLC purchased a new stake in BJ’s Restaurants in the 4th quarter worth $255,000. Finally, Macquarie Group Ltd. purchased a new stake in BJ’s Restaurants in the 3rd quarter worth $292,000. 94.61% of the stock is owned by hedge funds and other institutional investors.
BJRI has been the topic of several research analyst reports. Wedbush upgraded shares of BJ’s Restaurants from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $37.00 to $44.00 in a research note on Thursday, February 15th. Zacks Investment Research cut shares of BJ’s Restaurants from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. Barclays restated an “underweight” rating and set a $30.00 target price (up from $27.00) on shares of BJ’s Restaurants in a research report on Tuesday, January 16th. Stifel Nicolaus restated a “buy” rating and set a $48.00 target price on shares of BJ’s Restaurants in a research report on Friday, February 23rd. Finally, Canaccord Genuity reiterated a “buy” rating and set a $50.00 price target (up from $45.00) on shares of BJ’s Restaurants in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $40.56.
In other news, Director Gerald W. Deitchle sold 161,703 shares of the stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $43.55, for a total value of $7,042,165.65. Following the sale, the director now owns 80,548 shares in the company, valued at $3,507,865.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian S. Krakower sold 5,504 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $44.21, for a total transaction of $243,331.84. Following the completion of the sale, the insider now owns 3,318 shares in the company, valued at approximately $146,688.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 170,867 shares of company stock valued at $7,447,599. Corporate insiders own 6.80% of the company’s stock.
Shares of NASDAQ BJRI traded down $0.50 during midday trading on Friday, reaching $45.05. 263,551 shares of the company’s stock traded hands, compared to its average volume of 304,851. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.41 and a current ratio of 0.49. BJ’s Restaurants has a one year low of $28.00 and a one year high of $47.55. The company has a market cap of $933.97, a PE ratio of 31.95, a P/E/G ratio of 1.67 and a beta of 0.74.
BJ’s Restaurants (NASDAQ:BJRI) last posted its earnings results on Thursday, February 22nd. The restaurant operator reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.05. BJ’s Restaurants had a net margin of 4.34% and a return on equity of 12.07%. The company had revenue of $261.10 million during the quarter, compared to analysts’ expectations of $259.34 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. BJ’s Restaurants’s revenue for the quarter was down 1.7% compared to the same quarter last year. analysts forecast that BJ’s Restaurants will post 1.79 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 27th. Shareholders of record on Tuesday, March 13th were issued a $0.11 dividend. The ex-dividend date was Monday, March 12th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.98%. BJ’s Restaurants’s dividend payout ratio is currently 15.60%.
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BJ’s Restaurants Profile
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 February 26, 2018, the company owned and operated 197 casual dining restaurants located in the 26 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, South Carolina, Tennessee, Texas, Virginia, and Washington.
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