First Midwest Bank Trust Division cut its position in shares of Panera Bread Co (NASDAQ:PNRA) by 14.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,090 shares of the company’s stock after selling 190 shares during the period. First Midwest Bank Trust Division’s holdings in Panera Bread were worth $343,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of PNRA. Coconut Grove Bank raised its stake in Panera Bread by 94.7% in the first quarter. Coconut Grove Bank now owns 555 shares of the company’s stock worth $145,000 after buying an additional 270 shares in the last quarter. FNY Managed Accounts LLC acquired a new stake in Panera Bread during the first quarter worth approximately $156,000. Intrust Bank NA acquired a new stake in Panera Bread during the first quarter worth approximately $205,000. United Capital Financial Advisers LLC acquired a new stake in Panera Bread during the first quarter worth approximately $206,000. Finally, YHB Investment Advisors Inc. acquired a new stake in Panera Bread during the first quarter worth approximately $208,000. 96.66% of the stock is owned by institutional investors and hedge funds.
PNRA has been the subject of a number of analyst 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 raised shares of Panera Bread from a “hold” rating to a “buy” rating and set a $352.00 price target on the stock in a research report on Tuesday, July 4th. Canaccord Genuity cut shares of Panera Bread from a “buy” rating to a “hold” rating and set a $315.00 price target on the stock. in a research report on Wednesday, April 26th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Panera Bread in a research report on Monday, July 3rd. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $279.27.
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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