Arrowstreet Capital Limited Partnership cut its holdings in shares of Panera Bread Co (NASDAQ:PNRA) by 91.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,400 shares of the company’s stock after selling 92,300 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Panera Bread were worth $2,643,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in PNRA. FNY Managed Accounts LLC acquired a new stake in Panera Bread during the 1st quarter worth approximately $156,000. BT Investment Management Ltd acquired a new stake in Panera Bread during the 2nd quarter worth approximately $203,000. United Capital Financial Advisers LLC acquired a new stake in Panera Bread during the 1st quarter worth approximately $206,000. Neuberger Berman Group LLC acquired a new stake in Panera Bread during the 1st quarter worth approximately $225,000. Finally, Forte Capital LLC ADV acquired a new stake in Panera Bread during the 2nd quarter worth approximately $225,000. Institutional investors own 96.66% of the company’s stock.
PNRA has been the topic of a number of research reports. BidaskClub lowered shares of Panera Bread from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Zacks Investment Research upgraded shares of Panera Bread from a “hold” rating to a “buy” rating and set a $352.00 target price on the stock in a report on Tuesday, July 4th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Panera Bread in a report on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $281.39.
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Panera Bread 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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