Cramer Rosenthal Mcglynn LLC Increases Position in BJ's Restaurants, Inc. $BJRI

Key Points

• Cramer Rosenthal Mcglynn LLC increased its stake in BJ's Restaurants by 50% in Q3, buying an additional 137,283 shares to hold 411,750 shares (about 1.95% of the company) worth roughly $12.57 million.
• BJ's beat quarterly expectations with $0.66 EPS vs. $0.60 expected and revenue of $355.4 million (up 3.2% year-over-year); analysts have a consensus "Hold" rating and an average price target of $43.00.
• Notable insider activity: EVP Brian S. Krakower sold 8,017 shares (a large reduction), while Director C. Bradford Richmond purchased 1,200 shares, and insiders now own about 4.30% of the company.

Cramer Rosenthal Mcglynn LLC increased its stake in shares of BJ's Restaurants, Inc. (NASDAQ:BJRI - Free Report) by 50.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 411,750 shares of the restaurant operator's stock after purchasing an additional 137,283 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned approximately 1.95% of BJ's Restaurants worth $12,571,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. lifted its position in shares of BJ's Restaurants by 18.0% during the second quarter. Ameritas Investment Partners Inc. now owns 2,189 shares of the restaurant operator's stock valued at $98,000 after buying an additional 334 shares during the last quarter. Prudential Financial Inc. lifted its position in BJ's Restaurants by 1.8% during the second quarter. Prudential Financial Inc. now owns 23,034 shares of the restaurant operator's stock valued at $1,027,000 after acquiring an additional 397 shares during the last quarter. US Bancorp DE boosted its stake in BJ's Restaurants by 14.5% in the third quarter. US Bancorp DE now owns 3,305 shares of the restaurant operator's stock valued at $101,000 after acquiring an additional 418 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in BJ's Restaurants by 6.3% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 7,879 shares of the restaurant operator's stock worth $241,000 after purchasing an additional 470 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of BJ's Restaurants by 0.9% during the second quarter. First Trust Advisors LP now owns 71,617 shares of the restaurant operator's stock worth $3,194,000 after purchasing an additional 637 shares in the last quarter. Hedge funds and other institutional investors own 99.95% of the company's stock.

BJ's Restaurants Stock Performance

BJRI opened at $35.83 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.30 and a debt-to-equity ratio of 0.23. BJ's Restaurants, Inc. has a 12-month low of $28.46 and a 12-month high of $47.02. The firm has a 50 day moving average of $41.79 and a two-hundred day moving average of $36.94. The firm has a market capitalization of $759.60 million, a PE ratio of 16.67, a P/E/G ratio of 1.12 and a beta of 1.32.

BJ's Restaurants (NASDAQ:BJRI - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The restaurant operator reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.06. BJ's Restaurants had a net margin of 3.49% and a return on equity of 13.82%. The firm had revenue of $355.40 million for the quarter, compared to analyst estimates of $353.71 million. During the same quarter in the prior year, the business earned $0.47 earnings per share. The business's quarterly revenue was up 3.2% compared to the same quarter last year. On average, analysts anticipate that BJ's Restaurants, Inc. will post 1.5 EPS for the current year.

Analyst Upgrades and Downgrades

BJRI has been the subject of a number of recent analyst reports. Benchmark raised their price objective on BJ's Restaurants from $44.00 to $48.00 and gave the stock a "buy" rating in a research report on Thursday, February 26th. Wall Street Zen lowered BJ's Restaurants from a "buy" rating to a "hold" rating in a research note on Sunday, November 9th. Barclays increased their price objective on shares of BJ's Restaurants from $39.00 to $42.00 and gave the company an "underweight" rating in a research report on Thursday, February 26th. Mizuho boosted their target price on shares of BJ's Restaurants from $39.00 to $42.00 and gave the stock a "neutral" rating in a research report on Friday, February 20th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of BJ's Restaurants in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $43.00.

Insider Transactions at BJ's Restaurants

In other BJ's Restaurants news, EVP Brian S. Krakower sold 8,017 shares of BJ's Restaurants stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $39.61, for a total transaction of $317,553.37. Following the completion of the transaction, the executive vice president owned 4,409 shares in the company, valued at approximately $174,640.49. This trade represents a 64.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director C Bradford Richmond bought 1,200 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was bought at an average price of $35.10 per share, for a total transaction of $42,120.00. Following the purchase, the director directly owned 16,700 shares of the company's stock, valued at approximately $586,170. The trade was a 7.74% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 4.30% 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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