BlackRock Inc. Invests $200.01 Million in BJ's Restaurants, Inc. $BJRI

BlackRock Inc. bought a new stake in 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 bought 3,293,088 shares of the restaurant operator's stock, valued at approximately $200,006,000. BlackRock Inc. owned approximately 15.48% of BJ's Restaurants as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. UBS Group AG increased its position in BJ's Restaurants by 576.9% during the 3rd quarter. UBS Group AG now owns 1,451,883 shares of the restaurant operator's stock worth $44,326,000 after purchasing an additional 1,237,383 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of BJ's Restaurants by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,114,685 shares of the restaurant operator's stock valued at $39,125,000 after buying an additional 30,684 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of BJ's Restaurants by 48.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 935,375 shares of the restaurant operator's stock valued at $28,557,000 after buying an additional 306,930 shares in the last quarter. Raymond James Financial Inc. boosted its stake in shares of BJ's Restaurants by 67.3% in the third quarter. Raymond James Financial Inc. now owns 388,779 shares of the restaurant operator's stock valued at $11,869,000 after buying an additional 156,458 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of BJ's Restaurants by 8.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 385,230 shares of the restaurant operator's stock valued at $15,178,000 after buying an additional 30,269 shares in the last quarter. 99.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BJ's Restaurants

In related news, Director Noah A. Elbogen sold 7,535 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director owned 71,655 shares of the company's stock, valued at approximately $5,025,881.70. This represents a 9.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gregory S. Lynds sold 21,704 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $68.81, for a total transaction of $1,493,452.24. Following the transaction, the executive vice president directly owned 24,770 shares in the company, valued at approximately $1,704,423.70. This represents a 46.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 124,077 shares of company stock valued at $7,676,952 in the last quarter. Insiders own 2.40% of the company's stock.

Analyst Ratings Changes

BJRI has been the subject of several research analyst reports. Benchmark increased their price objective on BJ's Restaurants from $68.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Piper Sandler boosted their price target on BJ's Restaurants from $40.00 to $43.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Zacks Research raised shares of BJ's Restaurants from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 3rd. DA Davidson set a $65.00 target price on BJ's Restaurants in a report on Friday, July 31st. Finally, Citigroup upped their price objective on BJ's Restaurants from $68.00 to $75.00 and gave the company a "neutral" rating in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $56.88.

BJ's Restaurants Stock Performance

NASDAQ BJRI opened at $63.70 on Friday. The business's 50-day moving average price is $64.15 and its 200 day moving average price is $48.76. BJ's Restaurants, Inc. has a twelve month low of $28.46 and a twelve month high of $74.60. The company has a market capitalization of $1.35 billion, a PE ratio of 34.06, a price-to-earnings-growth ratio of 2.01 and a beta of 1.32. The company has a current ratio of 0.29, a quick ratio of 0.22 and a debt-to-equity ratio of 0.11.

BJ's Restaurants (NASDAQ:BJRI - Get Free Report) last posted its quarterly 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 company had revenue of $388.89 million during the quarter, compared to analysts' expectations of $377.07 million. BJ's Restaurants had a return on equity of 12.93% and a net margin of 2.86%.The firm's revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.97 EPS. On average, research analysts predict that BJ's Restaurants, Inc. will post 2.37 earnings per share for the current year.

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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