O Shaughnessy Asset Management LLC increased its holdings in BJ’s Restaurants, Inc. (NASDAQ:BJRI) by 58.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,106 shares of the restaurant operator’s stock after purchasing an additional 61,082 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in BJ’s Restaurants were worth $11,859,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in BJRI. Rothschild Asset Management Inc. bought a new stake in shares of BJ’s Restaurants in the 2nd quarter worth approximately $28,901,000. Acadian Asset Management LLC raised its holdings in shares of BJ’s Restaurants by 98.8% in the 3rd 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. Hennessy Advisors Inc. acquired a new stake in shares of BJ’s Restaurants during the third quarter valued at approximately $26,635,000. BlackRock Inc. raised its holdings 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 valued at $190,129,000 after acquiring an additional 292,172 shares during the period. Finally, OppenheimerFunds Inc. raised its holdings in shares of BJ’s Restaurants by 1,796.2% during the second quarter. OppenheimerFunds Inc. now owns 276,883 shares of the restaurant operator’s stock valued at $16,613,000 after acquiring an additional 262,281 shares during the period. Institutional investors and hedge funds own 95.27% of the company’s stock.
A number of equities research analysts have recently issued reports on BJRI shares. Maxim Group started coverage on shares of BJ’s Restaurants in a report on Wednesday, August 22nd. They set a “buy” rating and a $81.00 price target on the stock. Piper Jaffray Companies upgraded shares of BJ’s Restaurants from a “neutral” rating to an “overweight” rating in a report on Friday, October 5th. Morgan Stanley boosted their price target on shares of BJ’s Restaurants from $57.00 to $61.00 and gave the company an “equal weight” rating in a report on Thursday, October 18th. Gordon Haskett started coverage on shares of BJ’s Restaurants in a report on Thursday, October 18th. They set an “underperform” rating on the stock. Finally, BidaskClub upgraded shares of BJ’s Restaurants from a “hold” rating to a “buy” rating in a report on Tuesday, August 14th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $66.75.
BJ’s Restaurants stock opened at $65.96 on Friday. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 46.78, a P/E/G ratio of 1.85 and a beta of 1.04. The company has a current ratio of 0.49, a quick ratio of 0.36 and a debt-to-equity ratio of 0.30. BJ’s Restaurants, Inc. has a twelve month low of $30.45 and a twelve month high of $76.50.
BJ’s Restaurants (NASDAQ:BJRI) last released its quarterly earnings data on Tuesday, October 30th. The restaurant operator reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.16. The firm had revenue of $270.27 million for the quarter, compared to analyst estimates of $262.89 million. BJ’s Restaurants had a net margin of 5.80% and a return on equity of 16.70%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.15 EPS. Equities research analysts forecast that BJ’s Restaurants, Inc. will post 2.32 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 26th. Shareholders of record on Monday, November 12th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.73%. The ex-dividend date is Thursday, November 8th. This is a positive change from BJ’s Restaurants’s previous quarterly dividend of $0.11. BJ’s Restaurants’s dividend payout ratio is currently 31.21%.
In other BJ’s Restaurants news, VP Kendra D. Miller sold 8,807 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $67.01, for a total value of $590,157.07. Following the transaction, the vice president now owns 12,370 shares in the company, valued at approximately $828,913.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Greg Trojan sold 26,979 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $74.65, for a total transaction of $2,013,982.35. Following the completion of the transaction, the chief executive officer now owns 66,783 shares in the company, valued at approximately $4,985,350.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 301,210 shares of company stock worth $21,785,835. Company insiders own 6.80% of the company’s stock.
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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 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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