Vanguard Group Inc. Sells 301,918 Shares of BJ's Restaurants, Inc. $BJRI

Key Points

• Vanguard Group reduced its stake in BJ's Restaurants by 9.0% in the fourth quarter, selling 301,918 shares and leaving it with 3.06 million shares valued at about $120.6 million.
• Recent analyst sentiment on BJRI is mixed: Benchmark raised its target to $50 with a buy rating, while other firms trimmed targets or kept neutral/underweight views. Overall, the stock carries a Hold consensus and an average price target of $42.00.
• BJ's Restaurants reported quarterly EPS of $0.57, missing expectations, though revenue of $358.1 million slightly topped estimates and rose 2.9% year over year. The stock was trading around $41.42 and is down 1.6% in the session cited.

Vanguard Group Inc. decreased its holdings in shares of BJ's Restaurants, Inc. (NASDAQ:BJRI - Free Report) by 9.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,060,845 shares of the restaurant operator's stock after selling 301,918 shares during the period. Vanguard Group Inc. owned 14.48% of BJ's Restaurants worth $120,597,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. CWM LLC lifted its stake in BJ's Restaurants by 187.7% in the fourth quarter. CWM LLC now owns 699 shares of the restaurant operator's stock worth $28,000 after acquiring an additional 456 shares during the period. GAMMA Investing LLC lifted its position in shares of BJ's Restaurants by 39.3% in the 4th quarter. GAMMA Investing LLC now owns 939 shares of the restaurant operator's stock worth $37,000 after purchasing an additional 265 shares during the period. Quarry LP increased its position in shares of BJ's Restaurants by 1,618.3% during the third quarter. Quarry LP now owns 1,031 shares of the restaurant operator's stock valued at $31,000 after buying an additional 971 shares during the period. BNP Paribas Financial Markets increased its position in shares of BJ's Restaurants by 77.5% during the second quarter. BNP Paribas Financial Markets now owns 2,317 shares of the restaurant operator's stock valued at $103,000 after buying an additional 1,012 shares during the period. Finally, US Bancorp DE lifted its stake in shares of BJ's Restaurants by 14.5% in the 3rd quarter. US Bancorp DE now owns 3,305 shares of the restaurant operator's stock valued at $101,000 after purchasing an additional 418 shares during the period. 99.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BJRI shares. Benchmark lifted their target price on shares of BJ's Restaurants from $48.00 to $50.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Barclays lowered 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. Piper Sandler lifted their price objective on BJ's Restaurants from $40.00 to $43.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Mizuho dropped their target price on shares of BJ's Restaurants from $44.00 to $40.00 and set a "neutral" rating on the stock in a report on Thursday, April 2nd. Finally, Citigroup cut their price target on BJ's Restaurants from $49.00 to $47.00 and set a "neutral" rating for the company in a research note on Thursday, April 16th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $42.00.

BJ's Restaurants Trading Down 1.6%

BJ's Restaurants stock opened at $41.42 on Wednesday. The stock has a market cap of $870.52 million, a P/E ratio of 20.92, a PEG ratio of 1.36 and a beta of 1.29. BJ's Restaurants, Inc. has a 1 year low of $28.46 and a 1 year high of $47.02. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.31 and a quick ratio of 0.25. The firm's 50 day moving average price is $37.03 and its 200-day moving average price is $38.67.

BJ's Restaurants (NASDAQ:BJRI - Get Free Report) last posted its earnings results on Tuesday, May 5th. The restaurant operator reported $0.57 EPS for the quarter, missing analysts' consensus estimates of $0.61 by ($0.04). BJ's Restaurants had a return on equity of 13.48% and a net margin of 3.15%.The firm had revenue of $358.12 million during the quarter, compared to analysts' expectations of $356.97 million. During the same quarter in the prior year, the firm posted $0.59 earnings per share. BJ's Restaurants's quarterly revenue was up 2.9% on a year-over-year basis. On average, equities analysts predict that BJ's Restaurants, Inc. will post 2.2 earnings per share for the current fiscal year.

Insider Buying and Selling at BJ's Restaurants

In other BJ's Restaurants news, Director C Bradford Richmond bought 1,200 shares of the firm's stock in a transaction dated Tuesday, March 3rd. The shares were purchased at an average cost of $35.10 per share, for a total transaction of $42,120.00. Following the transaction, the director owned 16,700 shares of the company's stock, valued at $586,170. This represents a 7.74% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Brian S. Krakower sold 2,600 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $35.03, for a total transaction of $91,078.00. Following the completion of the transaction, the executive vice president directly owned 5,062 shares of the company's stock, valued at approximately $177,321.86. The trade was a 33.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have acquired 3,200 shares of company stock valued at $110,670 in the last quarter. 4.90% of the stock is owned by company insiders.

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.

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