GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Panera Bread Co (NASDAQ:PNRA) during the second quarter, according to its most recent filing with the SEC. The institutional investor purchased 112,396 shares of the company’s stock, valued at approximately $35,364,000. Panera Bread makes up about 3.8% of GABELLI & Co INVESTMENT ADVISERS INC.’s holdings, making the stock its 4th largest position.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PNRA. Teachers Advisors LLC boosted its position in Panera Bread by 28.1% in the fourth quarter. Teachers Advisors LLC now owns 24,478 shares of the company’s stock valued at $5,020,000 after buying an additional 5,370 shares in the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in shares of Panera Bread by 0.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 1,780 shares of the company’s stock valued at $466,000 after buying an additional 5 shares in the last quarter. Capstone Asset Management Co. boosted its position in shares of Panera Bread by 4.3% in the first quarter. Capstone Asset Management Co. now owns 2,814 shares of the company’s stock valued at $737,000 after buying an additional 116 shares in the last quarter. Howland Capital Management LLC acquired a new position in shares of Panera Bread during the first quarter valued at approximately $262,000. Finally, Huntington National Bank boosted its position in shares of Panera Bread by 34.8% in the first quarter. Huntington National Bank now owns 3,430 shares of the company’s stock valued at $898,000 after buying an additional 885 shares in the last quarter. 96.66% of the stock is currently owned by hedge funds and other institutional investors.
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Several research analysts have recently commented on the stock. Zacks Investment Research cut shares of Panera Bread from a “buy” rating to a “hold” rating in a report on Thursday, April 20th. BidaskClub cut shares of Panera Bread from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Panera Bread in a report on Monday, July 3rd. Finally, Canaccord Genuity cut shares of Panera Bread from a “buy” rating to a “hold” rating and set a $315.00 target price on the stock. in a report on Wednesday, April 26th. 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 company. Panera Bread currently has an average rating of “Hold” and a consensus price target of $278.35.
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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