Keurig owner buys Panera for $7.5 billion
- Author: Zachary Reyes Apr 06, 2017,
Apr 06, 2017, 21:59
Now the shares of Panera Bread Company (PNRA) has a trading volume of 12.16 Million shares, with an average trading volume of 2.94 Million shares - with shares dropping to a 52 week low of $185.69 on Nov 9, 2016, and the company's shares hitting a 52 week high on April 5, 2017 of $313.41.
A number of other brokerages have also recently issued reports on PNRA.
Baird Downgrades Panera Bread Company (PNRA)'s stock to Neutral with the price target of $290.
RBC Capital Markets downgraded Panera's stock today to "sector perform" from "outperform" also with a price target of $315. Zacks Investment Research lowered Panera Bread from a "hold" rating to a "sell" rating in a report on Tuesday, December 27th.
Shares of Panera (PNRA) surged almost 15% in early trading Wednesday. Analyst forecasts, earnings estimates and price target projections are issued to help their clients make money through stock investments.
JAB is acquiring Panera through JAB BV, an investment vehicle of JAB Consumer Fund and JAB Holding Company. The stock presently has a consensus rating of "Hold" and an average price target of $255.70.
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute. Panera Bread has a 52 week low of $185.69 and a 52 week high of $313.41. 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 during the period. The research firm, a subsidiary of Accern, rates the sentiment of press coverage by monitoring more than 20 million news and blog sources in real time. Additionally, Company-owned comparable net bakery-cafe sales in fiscal Q1 2017 outperformed the Black Box all-industry composite by 690 basis points. Finally, Cornerstone Wealth Management LLC purchased a new stake in Panera Bread during the third quarter worth approximately $214,000. Thus the company showed an Earnings Surprise of 2.5 Percent. The stock, after opening at $310.96, closed at $312.94 by scoring 14.21%.
The firm's 50-day moving average is $242.41 and its 200-day moving average is $215.00.
Panera Bread Company (PNRA) has a market capitalization of 7.18 Billion. The company now has a Return on Equity (ROE) of 41.60% and a Return on Investment (ROI) of 21.70%. The high and low revenue estimates for the current quarter are $746.62 Million and $711.6 Million, respectively.
Among the polled analysts, the highest estimate sees the stock going to 315 in the next year. On Wednesday, it reported preliminary first-quarter company-owned sales-store growth of 5.3 per cent, which Setyan said comfortably beat Wall Street's expectations.
According to sentiments of 23 analysts the company is expected to report revenues of $715.97M for the current quarter.
JAB Holdings, the owner of Caribou Coffee and Krispy Kreme Doughnuts, said on Wednesday (April 5) it would buy bakery chain Panera Bread Co for US$7.2 billion (S$10.1 billion), as it expands its coffee and breakfast empire through the biggest-ever U.S. restaurant deal. If you are reading this report on another site, it was stolen and republished in violation of global trademark and copyright legislation.