Canada Pension Plan Investment Board raised its stake in Panera Bread Co (NASDAQ:PNRA) by 903,000.0% during the second quarter, Holdings Channel reports. The institutional investor owned 90,310 shares of the company’s stock after buying an additional 90,300 shares during the period. Canada Pension Plan Investment Board’s holdings in Panera Bread were worth $28,415,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. BlackRock Inc. increased its stake in Panera Bread by 13,517.9% in the first quarter. BlackRock Inc. now owns 1,758,482 shares of the company’s stock worth $460,494,000 after buying an additional 1,745,569 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in Panera Bread during the first quarter worth $167,317,000. ING Groep NV purchased a new stake in Panera Bread during the first quarter worth $93,401,000. Renaissance Technologies LLC increased its stake in Panera Bread by 1,832.4% in the first quarter. Renaissance Technologies LLC now owns 115,792 shares of the company’s stock worth $30,322,000 after buying an additional 109,800 shares during the period. Finally, Harbour Capital Advisors LLC increased its stake in Panera Bread by 31,363.9% in the second quarter. Harbour Capital Advisors LLC now owns 105,404 shares of the company’s stock worth $335,000 after buying an additional 105,069 shares during the period. 96.66% of the stock is owned by hedge funds and other institutional investors.
PNRA has been the subject of a number of recent research reports. BidaskClub downgraded Panera Bread from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Zacks Investment Research downgraded Panera Bread from a “buy” rating to a “hold” rating in a research note on Thursday, April 20th. 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 research note on Wednesday, April 26th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Panera Bread in a report on Monday, July 3rd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $278.35.
Panera Bread Company Profile
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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