28,200 Shares in BJ's Restaurants, Inc. $BJRI Acquired by Canada Pension Plan Investment Board

Key Points

• Canada Pension Plan Investment Board acquired 28,200 BJ’s Restaurants shares during the second quarter, worth approximately $1.7 million and representing 0.13% of the company. Institutional investors collectively own 99.95% of BJRI.
• BJ’s Restaurants exceeded quarterly expectations, reporting $0.94 in EPS versus the $0.90 consensus and revenue of $388.9 million, up 6.4% year over year.
• BJRI traded at $63.59, while analysts maintained a consensus “Hold” rating with a $56.88 price target; company insiders sold 124,077 shares worth approximately $7.7 million during the latest quarter.

Canada Pension Plan Investment Board purchased a new position in shares of BJ's Restaurants, Inc. (NASDAQ:BJRI - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 28,200 shares of the restaurant operator's stock, valued at approximately $1,713,000. Canada Pension Plan Investment Board owned 0.13% of BJ's Restaurants as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bard Associates Inc. purchased a new position in shares of BJ's Restaurants during the second quarter worth approximately $30,000. CWM LLC raised its position in BJ's Restaurants by 187.7% in the 4th quarter. CWM LLC now owns 699 shares of the restaurant operator's stock valued at $28,000 after purchasing an additional 456 shares during the last quarter. Quarry LP raised its position in BJ's Restaurants by 1,618.3% in the 3rd quarter. Quarry LP now owns 1,031 shares of the restaurant operator's stock valued at $31,000 after purchasing an additional 971 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new stake in BJ's Restaurants during the 4th quarter worth $63,000. Finally, BNP Paribas Financial Markets boosted its stake in BJ's Restaurants by 77.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,317 shares of the restaurant operator's stock worth $103,000 after purchasing an additional 1,012 shares during the period. Hedge funds and other institutional investors own 99.95% of the company's stock.

BJ's Restaurants Price Performance

Shares of NASDAQ BJRI opened at $63.59 on Tuesday. The stock has a fifty day moving average price of $64.54 and a 200 day moving average price of $49.05. BJ's Restaurants, Inc. has a 1-year low of $28.46 and a 1-year high of $74.60. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.29 and a quick ratio of 0.22. The company has a market cap of $1.35 billion, a PE ratio of 34.01, a P/E/G ratio of 1.96 and a beta of 1.31.

BJ's Restaurants (NASDAQ:BJRI - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The restaurant operator reported $0.94 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.04. The company had revenue of $388.89 million during the quarter, compared to the consensus estimate of $377.07 million. BJ's Restaurants had a net margin of 2.86% and a return on equity of 12.93%. BJ's Restaurants's quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.97 EPS. Sell-side analysts forecast that BJ's Restaurants, Inc. will post 2.37 EPS for the current year.

Insiders Place Their Bets

In other BJ's Restaurants news, Director Noah A. Elbogen sold 7,535 shares of the business's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $70.14, for a total transaction of $528,504.90. Following the sale, the director directly owned 71,655 shares in the company, valued at approximately $5,025,881.70. The trade was a 9.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brian S. Krakower sold 7,341 shares of the business's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $55.17, for a total transaction of $405,002.97. Following the sale, the executive vice president owned 4,721 shares in the company, valued at $260,457.57. The trade was a 60.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 124,077 shares of company stock valued at $7,676,952. Corporate insiders own 2.40% of the company's stock.

Analyst Ratings Changes

BJRI has been the topic of several research reports. William Blair raised shares of BJ's Restaurants from a "market perform" rating to an "outperform" rating in a research report on Friday, July 17th. Barclays reduced their target price on shares of BJ's Restaurants from $42.00 to $38.00 and set an "underweight" rating for the company in a report on Wednesday, May 6th. Citigroup increased their target price on shares of BJ's Restaurants from $68.00 to $75.00 and gave the stock a "neutral" rating in a research note on Friday, July 31st. Weiss Ratings raised BJ's Restaurants from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, August 21st. Finally, Mizuho set a $74.00 price target on BJ's Restaurants in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, BJ's Restaurants currently has an average rating of "Hold" and a consensus price target of $56.88.

BJ's Restaurants Company Profile

BJ's Restaurants, Inc is a publicly traded casual dining chain known for its deep‐dish pizzas, California‐style thin crust offerings and in‐house craft beer selections. Operating under the BJ's Restaurant & Brewhouse brand, the company combines a microbrewery concept with full‐service dining, offering an extensive menu that includes appetizers, salads, pasta dishes, sandwiches and the signature Pizookie dessert.

Founded in 1978 in Orange County, California, BJ's Restaurants began as BJ's Chicago Pizzeria, bringing a Chicago‐style pizza experience to the West Coast.

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