Janney Montgomery Scott LLC Purchases New Stake in BJ’s Restaurants, Inc. (BJRI)

Janney Montgomery Scott LLC purchased a new stake in BJ’s Restaurants, Inc. (NASDAQ:BJRI) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 7,522 shares of the restaurant operator’s stock, valued at approximately $543,000.

A number of other hedge funds have also modified their holdings of BJRI. Rothschild Asset Management Inc. purchased a new position in BJ’s Restaurants in the 2nd quarter valued at approximately $28,901,000. Acadian Asset Management LLC lifted its position in shares of BJ’s Restaurants by 98.8% during the 3rd quarter. Acadian Asset Management LLC now owns 765,717 shares of the restaurant operator’s stock worth $55,285,000 after purchasing an additional 380,544 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of BJ’s Restaurants during the 3rd quarter worth $26,635,000. BlackRock Inc. lifted its position in shares of BJ’s Restaurants by 10.2% during the 2nd quarter. BlackRock Inc. now owns 3,168,825 shares of the restaurant operator’s stock worth $190,129,000 after purchasing an additional 292,172 shares during the last quarter. Finally, OppenheimerFunds Inc. lifted its position in shares of BJ’s Restaurants by 1,796.2% during the 2nd quarter. OppenheimerFunds Inc. now owns 276,883 shares of the restaurant operator’s stock worth $16,613,000 after purchasing an additional 262,281 shares during the last quarter.

In related news, VP Kendra D. Miller sold 4,899 shares of BJ’s Restaurants stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $65.25, for a total transaction of $319,659.75. Following the sale, the vice president now directly owns 8,909 shares in the company, valued at approximately $581,312.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Greg Trojan sold 67,401 shares of BJ’s Restaurants stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $74.89, for a total transaction of $5,047,660.89. Following the sale, the chief executive officer now owns 64,783 shares in the company, valued at $4,851,598.87. The disclosure for this sale can be found here. Insiders have sold a total of 111,508 shares of company stock worth $8,214,117 over the last quarter. 6.80% of the stock is owned by company insiders.

BJ’s Restaurants stock opened at $54.32 on Friday. BJ’s Restaurants, Inc. has a 12-month low of $34.75 and a 12-month high of $76.50. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.49 and a quick ratio of 0.41. The firm has a market cap of $1.18 billion, a PE ratio of 24.95, a PEG ratio of 1.63 and a beta of 1.04.

BJ’s Restaurants (NASDAQ:BJRI) last announced its quarterly earnings results on Tuesday, October 30th. The restaurant operator reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.16. BJ’s Restaurants had a net margin of 5.80% and a return on equity of 16.70%. The firm had revenue of $270.27 million for the quarter, compared to analyst estimates of $262.89 million. During the same period last year, the business earned $0.15 EPS. BJ’s Restaurants’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, sell-side analysts forecast that BJ’s Restaurants, Inc. will post 2.35 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 26th. Investors of record on Monday, November 12th were paid a dividend of $0.12 per share. This is a positive change from BJ’s Restaurants’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Thursday, November 8th. BJ’s Restaurants’s dividend payout ratio (DPR) is currently 34.04%.

Several equities research analysts have recently issued reports on BJRI shares. BidaskClub cut shares of BJ’s Restaurants from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Wells Fargo & Co lifted their price objective on shares of BJ’s Restaurants from $58.00 to $59.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 31st. Zacks Investment Research cut shares of BJ’s Restaurants from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 17th. Stifel Nicolaus cut shares of BJ’s Restaurants from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $75.00 to $70.00 in a research report on Tuesday, October 23rd. Finally, Loop Capital started coverage on shares of BJ’s Restaurants in a research report on Wednesday, October 24th. They set a “hold” rating and a $70.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $65.50.

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About BJ’s Restaurants

BJ's Restaurants, Inc owns and operates casual dining restaurants in the United States. Its restaurants offer pizzas, craft and other beers, appetizers, entrées, pastas, sandwiches, specialty salads, and desserts. As of September 4, 2018, the company owned and operated 201 casual dining restaurants located in the 27 states of Alabama, Arizona, Arkansas, California, Colorado, Florida, Indiana, Kansas, Kentucky, Louisiana, Maryland, Michigan, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Rhode Island, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and Washington.

See Also: Leveraged Buyout (LBO) Explained

Want to see what other hedge funds are holding BJRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BJ’s Restaurants, Inc. (NASDAQ:BJRI).

Institutional Ownership by Quarter for BJ`s Restaurants (NASDAQ:BJRI)

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