JCP Investment Management LLC lowered its stake in shares of BJ’s Restaurants, Inc. (NASDAQ:BJRI – Free Report) by 62.0% in the first quarter, Holdings Channel reports. The firm owned 47,443 shares of the restaurant operator’s stock after selling 77,557 shares during the period. BJ’s Restaurants accounts for about 1.1% of JCP Investment Management LLC’s investment portfolio, making the stock its 15th largest position. JCP Investment Management LLC’s holdings in BJ’s Restaurants were worth $1,665,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in BJ’s Restaurants by 15.6% in the 1st quarter. AQR Capital Management LLC now owns 37,189 shares of the restaurant operator’s stock valued at $1,274,000 after purchasing an additional 5,013 shares in the last quarter. Caxton Associates LLP acquired a new stake in BJ’s Restaurants during the 1st quarter worth $291,000. Russell Investments Group Ltd. grew its holdings in shares of BJ’s Restaurants by 29.7% during the second quarter. Russell Investments Group Ltd. now owns 17,662 shares of the restaurant operator’s stock worth $788,000 after buying an additional 4,045 shares in the last quarter. Invesco Ltd. grew its holdings in shares of BJ’s Restaurants by 22.5% during the second quarter. Invesco Ltd. now owns 291,957 shares of the restaurant operator’s stock worth $13,021,000 after buying an additional 53,574 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of BJ’s Restaurants by 0.9% in the second quarter. First Trust Advisors LP now owns 71,617 shares of the restaurant operator’s stock valued at $3,194,000 after buying an additional 637 shares during the last quarter. 99.95% of the stock is currently owned by hedge funds and other institutional investors.
BJ’s Restaurants Price Performance
Shares of BJRI opened at $66.86 on Monday. BJ’s Restaurants, Inc. has a fifty-two week low of $28.46 and a fifty-two week high of $70.40. The firm’s 50 day moving average price is $54.09 and its 200 day moving average price is $44.69. The company has a market cap of $1.41 billion, a P/E ratio of 33.77, a PEG ratio of 2.14 and a beta of 1.31. The company has a quick ratio of 0.25, a current ratio of 0.31 and a debt-to-equity ratio of 0.17.
Insider Buying and Selling at BJ’s Restaurants
In other news, EVP Kendra D. Miller sold 19,261 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $55.60, for a total value of $1,070,911.60. Following the sale, the executive vice president directly owned 28,599 shares in the company, valued at approximately $1,590,104.40. This trade represents a 40.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lea Anne Ottinger sold 2,792 shares of BJ’s Restaurants stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $53.50, for a total value of $149,372.00. Following the completion of the transaction, the director owned 39,701 shares of the company’s stock, valued at approximately $2,124,003.50. This trade represents a 6.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 63,817 shares of company stock valued at $3,384,688. Insiders own 2.40% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the stock. Citigroup raised their price target on shares of BJ’s Restaurants from $47.00 to $68.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. William Blair upgraded BJ’s Restaurants from a “market perform” rating to an “outperform” rating in a research report on Friday, July 17th. Barclays cut their price objective on shares of BJ’s Restaurants from $42.00 to $38.00 and set an “underweight” rating for the company in a research report on Wednesday, May 6th. Benchmark lifted their target price on BJ’s Restaurants from $50.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Finally, Weiss Ratings lowered shares of BJ’s Restaurants from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $49.38.
View Our Latest Analysis on BJ’s Restaurants
BJ’s Restaurants Profile
BJ’s Restaurants, Inc is a publicly traded casual dining chain known for its deep‐dish pizzas, California‐style thin crust offerings and in‐house craft beer selections. Operating under the BJ’s Restaurant & Brewhouse brand, the company combines a microbrewery concept with full‐service dining, offering an extensive menu that includes appetizers, salads, pasta dishes, sandwiches and the signature Pizookie dessert.
Founded in 1978 in Orange County, California, BJ’s Restaurants began as BJ’s Chicago Pizzeria, bringing a Chicago‐style pizza experience to the West Coast.
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