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Panera Bread in advanced sale talks with JAB Holdings

Panera Bread in advanced sale talks with JAB Holdings

Yesterday, shares of Panera Bread (PNRA) soared on reports that it's considering selling itself, with Dunkin' Brands (DNKN) and Domino's Pizza (DPZ) mentioned as potential acquirers.

Baird's David Tarantino and team think they have. After this sale, 6,509 common shares of PNRA are directly owned by the insider, with total stake valued at $1,839,639. Moreover, Morgan Stanley has 0.01% invested in Panera Bread Co (NASDAQ:PNRA) for 217,416 shares. The stock now shows its YTD (Year to Date) performance of 37.81 percent while its Weekly performance value is 11.6%.

The bakery chain, which has a market value of about $6.5 billion, is working with advisers to study the options, said the people, who asked not to be named discussing the private process. Panera Bread earned a media sentiment score of 0.13 on AlphaOne's scale.

The company operates more than 2,000 bakery-cafes across the United States and Canada, offering breads, pastries, soups, salads, and sandwiches. The stock is now 19.36% away from its 50-day simple moving average and 29.55% away from the 200 day average.

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Shares of Panera shot up more than 10% immediately following the Bloomberg report; shares of the stock are now up 9.2%. LYNCH THOMAS E had sold 449 shares worth $95,884.

Since October 28, 2016, it had 0 insider purchases, and 5 sales for $740,437 activity. The most optimistic analyst sees the stock reaching $27.00 while the most conventional predicts the target price at $210.00. During the same quarter past year, the firm earned $1.88 EPS. PNRA's profit will be $44.14M for 39.25 P/E if the $1.79 EPS becomes a reality.

Shares of the St. Louis-based restaurant operator were trading at $288.49, up $26.62, at 12:50 p.m. ET after Bloomberg News quoted sources as saying the company has received takeover interest. Finally, Oppenheimer Holdings Inc. reiterated an "outperform" rating and set a $260.00 price objective (up previously from $240.00) on shares of Panera Bread in a research note on Thursday, February 16th. Contrarius Investment Management Ltd owns 7.52 million shares or 7.49% of their USA portfolio. Focused Wealth Mngmt holds 33 shares. Moreton William W. sold $580,041 worth of Panera Bread Co (NASDAQ:PNRA) on Friday, February 10. It has outperformed by 21.23% the S&P500. These shares are worth $580,050 and were traded at $232.02 each.

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