Bank of New York Mellon Corp grew its holdings in BJ’s Restaurants, Inc. (NASDAQ:BJRI) by 8.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 299,165 shares of the restaurant operator’s stock after purchasing an additional 22,738 shares during the period. Bank of New York Mellon Corp owned about 1.44% of BJ’s Restaurants worth $17,949,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of BJ’s Restaurants in the 2nd quarter valued at about $230,000. Bessemer Group Inc. bought a new stake in shares of BJ’s Restaurants in the 2nd quarter valued at approximately $234,000. Teacher Retirement System of Texas bought a new stake in shares of BJ’s Restaurants in the 2nd quarter valued at approximately $249,000. Piedmont Investment Advisors LLC bought a new stake in shares of BJ’s Restaurants in the 2nd quarter valued at approximately $255,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of BJ’s Restaurants in the 1st quarter valued at approximately $201,000. Institutional investors own 95.27% of the company’s stock.
Several equities research analysts recently commented on the company. Zacks Investment Research cut BJ’s Restaurants from a “strong-buy” rating to a “hold” rating in a research note on Monday. BidaskClub raised BJ’s Restaurants from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 28th. Stifel Nicolaus boosted their price target on BJ’s Restaurants from $66.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, July 27th. Piper Jaffray Companies boosted their price target on BJ’s Restaurants from $60.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, July 27th. Finally, Maxim Group assumed coverage on BJ’s Restaurants in a research note on Wednesday, August 22nd. They issued a “buy” rating and a $81.00 price target for the company. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $59.58.
Shares of BJ’s Restaurants stock opened at $72.00 on Tuesday. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 51.06, a P/E/G ratio of 2.25 and a beta of 0.74. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.44 and a quick ratio of 0.36. BJ’s Restaurants, Inc. has a 12-month low of $28.85 and a 12-month high of $76.50.
BJ’s Restaurants (NASDAQ:BJRI) last announced its earnings results on Thursday, July 26th. The restaurant operator reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.15. The firm had revenue of $287.63 million during the quarter, compared to analysts’ expectations of $283.22 million. BJ’s Restaurants had a return on equity of 15.76% and a net margin of 5.35%. The company’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 earnings per share. equities analysts predict that BJ’s Restaurants, Inc. will post 2.12 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, August 27th. Shareholders of record on Monday, August 13th were given a dividend of $0.11 per share. The ex-dividend date was Friday, August 10th. This represents a $0.44 dividend on an annualized basis and a yield of 0.61%. BJ’s Restaurants’s payout ratio is currently 31.21%.
In other BJ’s Restaurants news, insider Alex Puchner sold 3,907 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $62.63, for a total transaction of $244,695.41. Following the completion of the sale, the insider now owns 4,480 shares of the company’s stock, valued at $280,582.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Lon Ledwith sold 11,211 shares of the company’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $75.44, for a total value of $845,757.84. Following the sale, the vice president now directly owns 10,913 shares of the company’s stock, valued at approximately $823,276.72. The disclosure for this sale can be found here. Insiders have sold 301,614 shares of company stock valued at $21,777,152 in the last ninety days. Company insiders own 6.80% of the company’s stock.
BJ’s Restaurants Company 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 September 4, 2018, the company owned and operated 201 casual dining restaurants located in the 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, Rhode Island, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and Washington.
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