Victory Capital Management Inc. cut its holdings in Panera Bread Co (NASDAQ:PNRA) by 87.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,782 shares of the company’s stock after selling 47,537 shares during the period. Victory Capital Management Inc.’s holdings in Panera Bread were worth $2,134,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. FNY Managed Accounts LLC bought a new position in shares of Panera Bread in the first quarter worth about $156,000. United Capital Financial Advisers LLC bought a new position in Panera Bread during the first quarter valued at about $206,000. YHB Investment Advisors Inc. bought a new position in Panera Bread during the first quarter valued at about $208,000. PICTET BANK & TRUST Ltd bought a new position in Panera Bread during the first quarter valued at about $209,000. Finally, Neuberger Berman Group LLC bought a new position in Panera Bread during the first quarter valued at about $225,000. Institutional investors and hedge funds own 96.66% of the company’s stock.
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Several brokerages recently issued reports on PNRA. BidaskClub lowered Panera Bread from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Zacks Investment Research upgraded Panera Bread from a “hold” rating to a “buy” rating and set a $352.00 price target on the stock in a research note on Tuesday, July 4th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Panera Bread in a research note on Monday, July 3rd. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the stock. Panera Bread currently has an average rating of “Hold” and a consensus target price 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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