Deutsche Bank AG Buys Shares of 20,650 BJ's Restaurants, Inc. $BJRI

Key Points

• Deutsche Bank initiated a position in BJ’s Restaurants by purchasing 20,650 shares valued at approximately $1.25 million. Institutional investors collectively own 99.95% of the company.
• Analyst sentiment is mixed: Benchmark raised its price target to $80 and Zacks upgraded the stock to “strong buy,” while Barclays maintained an “underweight” rating. The consensus rating remains “Hold,” with a $56.88 target price.
• BJ’s Restaurants exceeded quarterly expectations, reporting $0.94 in EPS versus the $0.90 estimate and revenue of $388.89 million. However, insiders sold 124,077 shares worth approximately $7.68 million during the latest quarter.

Deutsche Bank AG purchased a new position in shares of BJ's Restaurants, Inc. (NASDAQ:BJRI - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 20,650 shares of the restaurant operator's stock, valued at approximately $1,254,000. Deutsche Bank AG owned approximately 0.10% of BJ's Restaurants at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp acquired a new stake in shares of BJ's Restaurants during the second quarter worth $7,516,000. State of Wyoming acquired a new stake in BJ's Restaurants in the 2nd quarter worth about $393,000. Bank of America Corp DE grew its holdings in BJ's Restaurants by 73.5% in the 1st quarter. Bank of America Corp DE now owns 324,588 shares of the restaurant operator's stock valued at $11,393,000 after buying an additional 137,511 shares during the period. California State Teachers Retirement System increased its stake in shares of BJ's Restaurants by 31.7% during the 1st quarter. California State Teachers Retirement System now owns 19,737 shares of the restaurant operator's stock valued at $693,000 after acquiring an additional 4,746 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of BJ's Restaurants by 238.0% during the 1st quarter. Royal Bank of Canada now owns 16,272 shares of the restaurant operator's stock worth $572,000 after acquiring an additional 11,458 shares during the period. Institutional investors and hedge funds own 99.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BJRI. Barclays cut their price target on shares of BJ's Restaurants from $42.00 to $38.00 and set an "underweight" rating on the stock in a research note on Wednesday, May 6th. DA Davidson set a $65.00 target price on BJ's Restaurants in a research report on Friday, July 31st. Benchmark lifted their target price on BJ's Restaurants from $68.00 to $80.00 and gave the company a "buy" rating in a report on Friday, July 31st. Zacks Research raised BJ's Restaurants from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 3rd. Finally, Weiss Ratings upgraded BJ's Restaurants from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $56.88.

BJ's Restaurants Stock Up 2.2%

Shares of NASDAQ BJRI opened at $65.12 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.22 and a current ratio of 0.29. BJ's Restaurants, Inc. has a 1 year low of $28.46 and a 1 year high of $74.60. The stock's 50-day simple moving average is $64.36 and its 200-day simple moving average is $48.87. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 34.82, a PEG ratio of 1.96 and a beta of 1.32.

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

Insiders Place Their Bets

In related news, EVP Kendra D. Miller sold 2,978 shares of the company'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 sale, the executive vice president directly owned 25,621 shares of the company's stock, valued at $1,788,345.80. This represents a 10.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gregory S. Lynds sold 21,704 shares of the firm's stock in a transaction 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 of the company's stock, valued at approximately $1,704,423.70. This represents a 46.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 124,077 shares of company stock valued at $7,676,952. 2.40% of the stock is owned by insiders.

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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