Sandy Spring Bank trimmed its position in shares of Panera Bread Co (NASDAQ:PNRA) by 29.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,013 shares of the company’s stock after selling 2,995 shares during the period. Sandy Spring Bank’s holdings in Panera Bread were worth $2,207,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in PNRA. Great West Life Assurance Co. Can grew its holdings in Panera Bread by 27.0% during the first quarter. Great West Life Assurance Co. Can now owns 15,581 shares of the company’s stock valued at $4,080,000 after purchasing an additional 3,315 shares during the period. First Trust Advisors LP bought a new position in Panera Bread during the first quarter valued at $3,535,000. World Asset Management Inc grew its holdings in Panera Bread by 12.9% during the first quarter. World Asset Management Inc now owns 1,530 shares of the company’s stock valued at $401,000 after purchasing an additional 175 shares during the period. Gamco Investors INC. ET AL grew its holdings in Panera Bread by 3.9% during the first quarter. Gamco Investors INC. ET AL now owns 1,441 shares of the company’s stock valued at $377,000 after purchasing an additional 54 shares during the period. Finally, Sei Investments Co. grew its holdings in Panera Bread by 23.0% during the first quarter. Sei Investments Co. now owns 15,915 shares of the company’s stock valued at $4,167,000 after purchasing an additional 2,972 shares during the period. 96.66% of the stock is owned by institutional investors and hedge funds.
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Several brokerages have weighed in on PNRA. Sanford C. Bernstein reissued an “outperform” rating on shares of Panera Bread in a report on Monday, July 3rd. BidaskClub raised Panera Bread from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Finally, Zacks Investment Research raised Panera Bread from a “hold” rating to a “buy” rating and set a $352.00 price objective for the company in a report on Tuesday, July 4th. 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 company. Panera Bread presently has a consensus 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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