Krilogy Financial LLC boosted its holdings in Panera Bread Co (NASDAQ:PNRA) by 13.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 601 shares of the company’s stock after acquiring an additional 70 shares during the period. Krilogy Financial LLC’s holdings in Panera Bread were worth $189,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. raised its position in Panera Bread by 13,517.9% in the first quarter. BlackRock Inc. now owns 1,758,482 shares of the company’s stock valued at $460,494,000 after purchasing an additional 1,745,569 shares during the period. Vanguard Group Inc. raised its position in Panera Bread by 1.2% in the second quarter. Vanguard Group Inc. now owns 1,724,662 shares of the company’s stock valued at $542,648,000 after purchasing an additional 20,513 shares during the period. State Street Corp raised its position in Panera Bread by 1.2% in the first quarter. State Street Corp now owns 583,129 shares of the company’s stock valued at $152,708,000 after purchasing an additional 6,907 shares during the period. BlueMountain Capital Management LLC purchased a new stake in Panera Bread in the second quarter valued at approximately $136,868,000. Finally, CNH Partners LLC purchased a new stake in Panera Bread in the second quarter valued at approximately $114,846,000. Hedge funds and other institutional investors own 96.66% of the company’s stock.
A number of brokerages have issued reports on PNRA. BidaskClub lowered Panera Bread from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Sanford C. Bernstein reissued an “outperform” rating on shares of Panera Bread in a research report on Monday, July 3rd. Finally, Zacks Investment Research raised Panera Bread from a “hold” rating to a “buy” rating and set a $352.00 target price on the stock in a research report on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $281.39.
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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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