Skylands Capital LLC lowered its position in Panera Bread Co (NASDAQ:PNRA) by 62.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,125 shares of the company’s stock after selling 8,350 shares during the period. Skylands Capital LLC’s holdings in Panera Bread were worth $1,613,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the company. Oakbrook Investments LLC purchased a new stake in Panera Bread during the second quarter worth approximately $294,000. US Bancorp DE increased its stake in Panera Bread by 0.3% in the second quarter. US Bancorp DE now owns 5,283 shares of the company’s stock worth $1,663,000 after buying an additional 14 shares during the period. State Treasurer State of Michigan increased its stake in Panera Bread by 1.1% in the second quarter. State Treasurer State of Michigan now owns 8,800 shares of the company’s stock worth $2,769,000 after buying an additional 100 shares during the period. Exane Asset Management purchased a new stake in Panera Bread during the second quarter worth approximately $346,000. Finally, Aperio Group LLC increased its stake in Panera Bread by 84.0% in the second quarter. Aperio Group LLC now owns 48,475 shares of the company’s stock worth $15,252,000 after buying an additional 22,131 shares during the period. 96.66% of the stock is owned by hedge funds and other institutional investors.
Panera Bread (NASDAQ:PNRA) last issued its quarterly earnings data on Tuesday, April 25th. The company reported $1.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by $0.01. The firm had revenue of $727.60 million for the quarter, compared to analyst estimates of $717.36 million. Panera Bread had a return on equity of 59.38% and a net margin of 5.80%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.56 earnings per share.
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A number of brokerages have issued reports on PNRA. BidaskClub downgraded Panera Bread from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Zacks Investment Research raised 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. Sanford C. Bernstein reissued an “outperform” rating on shares of Panera Bread in a report on Monday, July 3rd. Canaccord Genuity downgraded Panera Bread from a “buy” rating to a “hold” rating and set a $315.00 price target for the company. in a report on Wednesday, April 26th. Finally, Maxim Group reissued a “hold” rating and issued a $315.00 price target on shares of Panera Bread in a report on Tuesday, April 11th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $273.65.
About Panera Bread
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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