JCP Investment Management LLC Sells 77,557 Shares of BJ's Restaurants, Inc. $BJRI

Key Points

• JCP Investment Management cut its BJ’s Restaurants position by 62% in the first quarter, selling 77,557 shares and retaining 47,443 shares valued at approximately $1.67 million.
• Analysts maintain a consensus “Hold” rating with an average price target of $49.38, although targets range as high as $68.00. Institutional investors collectively own 99.95% of BJRI shares.
• BJRI shares opened at $66.86, near their 52-week high of $70.40. The company reported quarterly revenue of $358.12 million, slightly above estimates, but earnings of $0.57 per share missed the $0.61 consensus.

JCP Investment Management LLC lowered its holdings in shares of BJ's Restaurants, Inc. (NASDAQ:BJRI - Free Report) by 62.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,443 shares of the restaurant operator's stock after selling 77,557 shares during the quarter. BJ's Restaurants makes up approximately 1.1% of JCP Investment Management LLC's holdings, making the stock its 15th biggest position. JCP Investment Management LLC owned about 0.23% of BJ's Restaurants worth $1,665,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of BJRI. GAMMA Investing LLC increased its position in BJ's Restaurants by 39.3% in the fourth quarter. GAMMA Investing LLC now owns 939 shares of the restaurant operator's stock worth $37,000 after buying an additional 265 shares in the last quarter. US Bancorp DE raised its position in shares of BJ's Restaurants by 14.5% during the third quarter. US Bancorp DE now owns 3,305 shares of the restaurant operator's stock valued at $101,000 after buying an additional 418 shares during the last quarter. CWM LLC increased its holdings 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 acquiring an additional 456 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of BJ's Restaurants by 4.3% in the fourth quarter. Franklin Resources Inc. now owns 11,904 shares of the restaurant operator's stock worth $469,000 after purchasing an additional 494 shares during the last quarter. Finally, Diversified Trust Co grew its holdings in BJ's Restaurants by 8.6% during the 1st quarter. Diversified Trust Co now owns 6,524 shares of the restaurant operator's stock valued at $229,000 after buying an additional 517 shares in the last quarter. 99.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BJRI has been the topic of several research reports. Citigroup boosted their price target on shares of BJ's Restaurants from $47.00 to $68.00 and gave the stock a "neutral" rating in a research report on Monday, July 20th. Weiss Ratings downgraded shares of BJ's Restaurants from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 11th. Barclays cut their price objective on BJ's Restaurants from $42.00 to $38.00 and set an "underweight" rating on the stock in a research report on Wednesday, May 6th. Mizuho set a $60.00 target price on shares of BJ's Restaurants in a research note on Friday. Finally, Piper Sandler raised their price target on BJ's Restaurants from $40.00 to $43.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $49.38.

BJ's Restaurants Stock Performance

Shares of BJ's Restaurants stock opened at $66.86 on Monday. The company has a 50 day moving average price of $54.09 and a 200 day moving average price of $44.69. The firm has a market capitalization of $1.41 billion, a P/E ratio of 33.77, a PEG ratio of 2.14 and a beta of 1.31. BJ's Restaurants, Inc. has a 52 week low of $28.46 and a 52 week high of $70.40. The company has a quick ratio of 0.25, a current ratio of 0.31 and a debt-to-equity ratio of 0.17.

BJ's Restaurants (NASDAQ:BJRI - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The restaurant operator reported $0.57 earnings per share for the quarter, missing analysts' consensus estimates of $0.61 by ($0.04). BJ's Restaurants had a net margin of 3.15% and a return on equity of 13.48%. The company had revenue of $358.12 million for the quarter, compared to analysts' expectations of $356.97 million. During the same period last year, the firm earned $0.59 earnings per share. BJ's Restaurants's quarterly revenue was up 2.9% compared to the same quarter last year. Sell-side analysts expect that BJ's Restaurants, Inc. will post 2.23 EPS for the current year.

Insider Buying and Selling at BJ's Restaurants

In other news, EVP Brian S. Krakower sold 7,341 shares of the company's stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $55.17, for a total value of $405,002.97. Following the sale, the executive vice president directly owned 4,721 shares of the company's stock, valued at $260,457.57. This represents a 60.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kendra D. Miller sold 19,261 shares of the company's stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $55.60, for a total transaction of $1,070,911.60. Following the completion of the sale, the executive vice president directly owned 28,599 shares in the company, valued at approximately $1,590,104.40. The trade was a 40.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 63,817 shares of company stock worth $3,384,688. Corporate insiders own 2.40% of the company's stock.

About BJ's Restaurants

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.