Chicago Equity Partners LLC Grows Stake in BJ’s Restaurants, Inc. (BJRI)

Chicago Equity Partners LLC lifted its stake in shares of BJ’s Restaurants, Inc. (NASDAQ:BJRI) by 253.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,960 shares of the restaurant operator’s stock after purchasing an additional 55,895 shares during the period. Chicago Equity Partners LLC’s holdings in BJ’s Restaurants were worth $5,629,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of BJ’s Restaurants by 10.2% during the second quarter. BlackRock Inc. now owns 3,168,825 shares of the restaurant operator’s stock worth $190,129,000 after purchasing an additional 292,172 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of BJ’s Restaurants by 98.8% during the third quarter. Acadian Asset Management LLC now owns 765,717 shares of the restaurant operator’s stock worth $55,285,000 after purchasing an additional 380,544 shares in the last quarter. Rothschild Asset Management Inc. purchased a new stake in shares of BJ’s Restaurants during the second quarter worth about $28,901,000. Hennessy Advisors Inc. purchased a new stake in shares of BJ’s Restaurants during the third quarter worth about $26,635,000. Finally, Renaissance Technologies LLC increased its stake in shares of BJ’s Restaurants by 66.5% during the second quarter. Renaissance Technologies LLC now owns 309,058 shares of the restaurant operator’s stock worth $18,543,000 after purchasing an additional 123,458 shares in the last quarter. 95.27% of the stock is owned by institutional investors and hedge funds.

In other news, Director Patrick Walsh sold 12,000 shares of the stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $63.33, for a total value of $759,960.00. Following the completion of the sale, the director now owns 18,603 shares of the company’s stock, valued at approximately $1,178,127.99. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Noah A. Elbogen sold 888 shares of the stock in a transaction that occurred on Thursday, September 6th. The shares were sold at an average price of $76.05, for a total transaction of $67,532.40. The disclosure for this sale can be found here. In the last three months, insiders sold 296,782 shares of company stock valued at $21,474,320. Corporate insiders own 6.80% of the company’s stock.

Shares of NASDAQ BJRI opened at $65.19 on Wednesday. BJ’s Restaurants, Inc. has a 12-month low of $30.00 and a 12-month high of $76.50. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.44 and a quick ratio of 0.36. The stock has a market cap of $1.29 billion, a P/E ratio of 27.64, a price-to-earnings-growth ratio of 1.73 and a beta of 1.04.

BJ’s Restaurants (NASDAQ:BJRI) last posted its quarterly earnings results on Tuesday, October 30th. The restaurant operator reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.16. BJ’s Restaurants had a net margin of 5.80% and a return on equity of 16.70%. The business had revenue of $270.27 million during the quarter, compared to analysts’ expectations of $262.89 million. During the same quarter in the prior year, the company posted $0.15 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities analysts forecast that BJ’s Restaurants, Inc. will post 2.32 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 26th. Stockholders of record on Monday, November 12th will be paid a $0.12 dividend. This is a boost from BJ’s Restaurants’s previous quarterly dividend of $0.11. The ex-dividend date is Thursday, November 8th. This represents a $0.48 annualized dividend and a dividend yield of 0.74%. BJ’s Restaurants’s dividend payout ratio is 31.21%.

BJRI has been the subject of several research reports. Zacks Investment Research cut shares of BJ’s Restaurants from a “buy” rating to a “hold” rating in a research note on Monday, July 23rd. BidaskClub cut shares of BJ’s Restaurants from a “buy” rating to a “hold” rating in a research note on Monday, October 8th. Piper Jaffray Companies raised shares of BJ’s Restaurants from a “neutral” rating to an “overweight” rating in a research note on Friday, October 5th. Stifel Nicolaus cut shares of BJ’s Restaurants from a “buy” rating to a “hold” rating and dropped their price objective for the company from $75.00 to $70.00 in a research note on Tuesday, October 23rd. Finally, Wedbush upped their price objective on shares of BJ’s Restaurants from $66.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. BJ’s Restaurants has an average rating of “Hold” and a consensus price target of $66.75.

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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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Institutional Ownership by Quarter for BJ`s Restaurants (NASDAQ:BJRI)

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