Franklin Resources Inc. Buys New Holdings in Panera Bread Co (PNRA)
Franklin Resources Inc. bought a new stake in Panera Bread Co (NASDAQ:PNRA) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,172 shares of the company’s stock, valued at approximately $369,000.
A number of other institutional investors have also recently modified their holdings of PNRA. Omni Partners LLP acquired a new stake in Panera Bread during the 2nd quarter worth approximately $6,830,000. P Schoenfeld Asset Management LP acquired a new position in Panera Bread during the second quarter valued at approximately $7,246,000. Vivaldi Asset Management LLC acquired a new position in Panera Bread during the second quarter valued at approximately $35,154,000. Northwestern Mutual Investment Management Company LLC lifted its position in Panera Bread by 7.0% during the second quarter. Northwestern Mutual Investment Management Company LLC now owns 3,937 shares of the company’s stock valued at $834,000 after buying an additional 259 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Panera Bread by 1,272.6% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 42,797 shares of the company’s stock valued at $13,466,000 after buying an additional 39,679 shares in the last quarter. Hedge funds and other institutional investors own 96.66% of the company’s stock.
Several equities research analysts have issued reports on PNRA shares. Zacks Investment Research upgraded shares of Panera Bread from a “hold” rating to a “buy” rating and set a $352.00 price objective for the company in a research note on Tuesday, July 4th. BidaskClub raised shares of Panera Bread from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Panera Bread in a research note on Monday, July 3rd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $279.27.
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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