97,007 Shares in BJ's Restaurants, Inc. $BJRI Acquired by Empowered Funds LLC

Key Points

• Empowered Funds LLC acquired 97,007 BJ’s Restaurants shares worth approximately $5.9 million, representing a 0.46% stake. Institutional investors and hedge funds collectively own 99.95% of the company.
• Analyst sentiment is mixed: BJRI has an average “Hold” rating and a consensus price target of $56.88, though Benchmark and William Blair recently issued more bullish assessments.
• BJ’s Restaurants beat quarterly expectations with $0.94 in earnings per share and $388.89 million in revenue, while revenue rose 6.4% year over year. However, insiders sold 124,077 shares worth about $7.7 million over the past three months.

Empowered Funds LLC purchased a new stake in BJ's Restaurants, Inc. (NASDAQ:BJRI - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 97,007 shares of the restaurant operator's stock, valued at approximately $5,892,000. Empowered Funds LLC owned 0.46% of BJ's Restaurants at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BJRI. CWM LLC lifted its holdings in shares of BJ's Restaurants by 187.7% during the fourth quarter. CWM LLC now owns 699 shares of the restaurant operator's stock worth $28,000 after buying an additional 456 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of BJ's Restaurants in the second quarter valued at about $28,000. Bard Associates Inc. acquired a new position in shares of BJ's Restaurants in the second quarter valued at about $30,000. Quarry LP grew its stake in shares of BJ's Restaurants by 1,618.3% in the third quarter. Quarry LP now owns 1,031 shares of the restaurant operator's stock valued at $31,000 after acquiring an additional 971 shares in the last quarter. Finally, Kemnay Advisory Services Inc. bought a new position in BJ's Restaurants during the fourth quarter worth about $63,000. 99.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. DA Davidson set a $65.00 price objective on shares of BJ's Restaurants in a research note on Friday, July 31st. Zacks Research upgraded shares of BJ's Restaurants from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 3rd. Benchmark raised their target price on shares of BJ's Restaurants from $68.00 to $80.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Citigroup lifted their price target on shares of BJ's Restaurants from $68.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. Finally, William Blair upgraded BJ's Restaurants from a "market perform" rating to an "outperform" rating in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $56.88.

BJ's Restaurants Stock Performance

BJRI opened at $65.12 on Monday. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 34.82, a P/E/G ratio of 1.96 and a beta of 1.31. The company has a quick ratio of 0.22, a current ratio of 0.29 and a debt-to-equity ratio of 0.11. BJ's Restaurants, Inc. has a twelve month low of $28.46 and a twelve month high of $74.60. The company has a 50-day simple moving average of $64.36 and a 200 day simple moving average of $48.91.

BJ's Restaurants (NASDAQ:BJRI - Get Free Report) last released its earnings results on Thursday, July 30th. The restaurant operator reported $0.94 EPS for the quarter, beating the consensus estimate of $0.90 by $0.04. The firm had revenue of $388.89 million for the quarter, compared to analyst estimates of $377.07 million. BJ's Restaurants had a net margin of 2.86% and a return on equity of 12.93%. The business's quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the firm earned $0.97 EPS. Analysts predict that BJ's Restaurants, Inc. will post 2.37 EPS for the current fiscal year.

Insider Buying and Selling at BJ's Restaurants

In other BJ's Restaurants news, EVP Brian S. Krakower sold 7,341 shares of the company'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 completion of the sale, the executive vice president directly owned 4,721 shares in the company, valued at $260,457.57. This represents a 60.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kendra D. Miller sold 2,978 shares of the firm's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $69.80, for a total value of $207,864.40. Following the completion of the sale, the executive vice president directly owned 25,621 shares in the company, valued at approximately $1,788,345.80. This represents a 10.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 124,077 shares of company stock worth $7,676,952 in the last three months. Company insiders own 2.40% of the company's stock.

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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