State of Alaska Department of Revenue raised its stake in BJ’s Restaurants, Inc. (NASDAQ:BJRI) by 77.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,557 shares of the restaurant operator’s stock after buying an additional 1,557 shares during the period. State of Alaska Department of Revenue’s holdings in BJ’s Restaurants were worth $132,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of BJRI. BlackRock Inc. boosted its position in shares of BJ’s Restaurants by 132,808.6% in the first quarter. BlackRock Inc. now owns 2,518,618 shares of the restaurant operator’s stock valued at $101,752,000 after buying an additional 2,516,723 shares during the period. Norges Bank acquired a new position in shares of BJ’s Restaurants during the fourth quarter valued at about $7,030,000. GW&K Investment Management LLC boosted its position in shares of BJ’s Restaurants by 50.5% in the second quarter. GW&K Investment Management LLC now owns 352,993 shares of the restaurant operator’s stock valued at $13,149,000 after buying an additional 118,413 shares during the period. Segall Bryant & Hamill LLC acquired a new position in shares of BJ’s Restaurants during the first quarter valued at about $3,183,000. Finally, Wellington Management Group LLP boosted its position in shares of BJ’s Restaurants by 400.2% in the first quarter. Wellington Management Group LLP now owns 85,561 shares of the restaurant operator’s stock valued at $3,456,000 after buying an additional 68,455 shares during the period. 94.15% of the stock is owned by hedge funds and other institutional investors.
BJ’s Restaurants, Inc. (NASDAQ BJRI) traded up 0.15% during trading on Friday, reaching $33.10. 99,221 shares of the company were exchanged. The firm has a market capitalization of $709.86 million, a PE ratio of 19.51 and a beta of 1.08. BJ’s Restaurants, Inc. has a 12 month low of $30.40 and a 12 month high of $47.55. The stock has a 50 day moving average price of $35.30 and a 200 day moving average price of $39.07.
BJ’s Restaurants (NASDAQ:BJRI) last issued its quarterly earnings data on Thursday, July 27th. The restaurant operator reported $0.49 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.02. The business had revenue of $265.80 million during the quarter, compared to analyst estimates of $269.48 million. BJ’s Restaurants had a net margin of 3.82% and a return on equity of 14.51%. BJ’s Restaurants’s revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 earnings per share. On average, analysts expect that BJ’s Restaurants, Inc. will post $1.63 EPS for the current fiscal year.
BJ’s Restaurants announced that its Board of Directors has approved a share buyback plan on Thursday, April 27th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the restaurant operator to repurchase up to 5.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.
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BJRI has been the topic of several analyst reports. Wedbush restated a “neutral” rating and set a $45.00 price target (up previously from $41.00) on shares of BJ’s Restaurants in a research report on Friday, April 28th. Barclays PLC dropped their price target on shares of BJ’s Restaurants from $38.00 to $36.00 and set an “underweight” rating on the stock in a research report on Wednesday, July 19th. Canaccord Genuity upgraded shares of BJ’s Restaurants from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Friday, July 14th. TheStreet lowered shares of BJ’s Restaurants from a “b” rating to a “c+” rating in a research report on Friday, July 7th. Finally, BidaskClub lowered shares of BJ’s Restaurants from a “sell” rating to a “strong sell” rating in a research report on Wednesday, July 12th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $39.33.
In related news, VP Kevin E. Mayer sold 4,468 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $45.46, for a total value of $203,115.28. Following the sale, the vice president now directly owns 5,817 shares of the company’s stock, valued at approximately $264,440.82. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Alex Puchner sold 4,000 shares of the stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $44.75, for a total transaction of $179,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,914 shares of company stock worth $723,150. 6.80% of the stock is owned by corporate insiders.
BJ’s Restaurants Company Profile
BJ’s Restaurants, Inc owns and operates restaurants. The Company segment includes casual dining company-owned restaurants. Each of its restaurants is operated either as a BJ’s Restaurant & Brewhouse, a BJ’s Restaurant & Brewery, a BJ’s Pizza & Grill or a BJ’s Grill restaurant. The Company’s restaurants offer craft beers and other beers, as well as a selection of appetizers, entrees, pastas, burgers and sandwiches, specialty salads, and desserts, including its warm pizza cookie dessert, the Pizookie.
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