Russell Investments Group Ltd. raised its holdings in BJ’s Restaurants, Inc. (NASDAQ:BJRI) by 35.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 230,714 shares of the restaurant operator’s stock after buying an additional 60,109 shares during the period. Russell Investments Group Ltd.’s holdings in BJ’s Restaurants were worth $16,618,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. BlackRock Inc. increased its stake 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. Rothschild Asset Management Inc. acquired a new position in shares of BJ’s Restaurants during the 2nd quarter worth about $28,901,000. Acadian Asset Management LLC increased its stake in shares of BJ’s Restaurants by 434.7% during the 2nd quarter. Acadian Asset Management LLC now owns 385,173 shares of the restaurant operator’s stock worth $23,108,000 after purchasing an additional 313,144 shares during the last quarter. Hennessy Advisors Inc. acquired a new position in shares of BJ’s Restaurants during the 3rd quarter worth about $26,635,000. Finally, Renaissance Technologies LLC increased its stake in shares of BJ’s Restaurants by 66.5% during the 2nd quarter. Renaissance Technologies LLC now owns 309,058 shares of the restaurant operator’s stock worth $18,543,000 after purchasing an additional 123,458 shares during the last quarter. Hedge funds and other institutional investors own 95.27% of the company’s stock.
Shares of BJRI opened at $65.96 on Friday. BJ’s Restaurants, Inc. has a 52 week low of $30.45 and a 52 week high of $76.50. The stock has a market capitalization of $1.39 billion, a P/E ratio of 46.78, a P/E/G ratio of 1.85 and a beta of 1.04. The company has a current ratio of 0.49, a quick ratio of 0.36 and a debt-to-equity ratio of 0.30.
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, beating the Zacks’ 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 business had revenue of $270.27 million for the quarter, compared to analyst estimates of $262.89 million. During the same quarter in the prior year, the business earned $0.15 EPS. BJ’s Restaurants’s quarterly revenue was up 9.4% on a year-over-year basis. Equities analysts expect that BJ’s Restaurants, Inc. will post 2.32 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 26th. Investors of record on Monday, November 12th will be paid a $0.12 dividend. The ex-dividend date is Thursday, November 8th. This represents a $0.48 dividend on an annualized basis and a yield of 0.73%. This is a positive change from BJ’s Restaurants’s previous quarterly dividend of $0.11. BJ’s Restaurants’s dividend payout ratio is 31.21%.
Several research analysts have recently weighed in on BJRI shares. Morgan Stanley boosted their price objective on shares of BJ’s Restaurants from $48.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Monday, July 16th. Zacks Investment Research upgraded shares of BJ’s Restaurants from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Tuesday, July 17th. Barclays boosted their price objective on shares of BJ’s Restaurants from $47.00 to $49.00 and gave the stock a “$63.80” rating in a research note on Wednesday, July 18th. Stephens restated a “buy” rating and set a $70.00 price objective on shares of BJ’s Restaurants in a research note on Friday, July 20th. Finally, BidaskClub lowered shares of BJ’s Restaurants from a “buy” rating to a “hold” rating in a research note on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $66.75.
In related news, Director Patrick Walsh sold 12,000 shares of the company’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $63.33, for a total value of $759,960.00. Following the transaction, the director now owns 18,603 shares in the company, valued at approximately $1,178,127.99. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Noah A. Elbogen sold 888 shares of the company’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $76.05, for a total transaction of $67,532.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 301,210 shares of company stock worth $21,785,835. 6.80% of the stock is owned by company insiders.
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BJ’s Restaurants Profile
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.
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