BJ's Restaurants (NASDAQ:BJRI) Director Acquires 753 Shares

Key Points

• Director C. Bradford Richmond purchased 753 BJ’s Restaurants shares at an average price of $63.25, investing $47,627.25 and increasing his holdings by 2.17% to 35,500 shares.
• BJRI shares traded at $63.59, while the company reported quarterly EPS of $0.94, exceeding estimates of $0.90, and revenue of $388.89 million, up 6.4% year over year.
• Analyst sentiment is mixed, with an average “Hold” rating and a $56.88 price target; institutional investors own approximately 99.95% of the company’s stock.

BJ's Restaurants, Inc. (NASDAQ:BJRI - Get Free Report) Director C Bradford Richmond purchased 753 shares of the firm's stock in a transaction on Monday, August 31st. The stock was acquired at an average price of $63.25 per share, with a total value of $47,627.25. Following the completion of the purchase, the director owned 35,500 shares of the company's stock, valued at $2,245,375. The trade was a 2.17% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

BJ's Restaurants Stock Performance

Shares of BJ's Restaurants stock traded down $1.53 during midday trading on Monday, hitting $63.59. The company had a trading volume of 473,905 shares, compared to its average volume of 463,228. The company has a fifty day simple moving average of $64.54 and a 200 day simple moving average of $49.05. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 34.01, a PEG ratio of 1.96 and a beta of 1.31. The company has a quick ratio of 0.22, a current ratio of 0.29 and a debt-to-equity ratio of 0.11. BJ's Restaurants, Inc. has a 12-month low of $28.46 and a 12-month high of $74.60.

BJ's Restaurants (NASDAQ:BJRI - Get Free Report) last released its earnings results on Thursday, July 30th. The restaurant operator reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.04. BJ's Restaurants had a net margin of 2.86% and a return on equity of 12.93%. The company had revenue of $388.89 million for the quarter, compared to the consensus estimate of $377.07 million. During the same quarter in the previous year, the firm earned $0.97 EPS. BJ's Restaurants's revenue was up 6.4% compared to the same quarter last year. As a group, analysts predict that BJ's Restaurants, Inc. will post 2.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in BJ's Restaurants during the 2nd quarter worth about $200,006,000. UBS Group AG grew its holdings in BJ's Restaurants by 576.9% during the third quarter. UBS Group AG now owns 1,451,883 shares of the restaurant operator's stock worth $44,326,000 after acquiring an additional 1,237,383 shares during the period. California State Teachers Retirement System raised its position in BJ's Restaurants by 5,787.3% during the second quarter. California State Teachers Retirement System now owns 1,161,982 shares of the restaurant operator's stock valued at $70,579,000 after acquiring an additional 1,142,245 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in BJ's Restaurants by 48.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 935,375 shares of the restaurant operator's stock valued at $28,557,000 after acquiring an additional 306,930 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in BJ's Restaurants in the second quarter valued at approximately $13,380,000. 99.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BJRI has been the topic of several research reports. William Blair raised BJ's Restaurants from a "market perform" rating to an "outperform" rating in a research report on Friday, July 17th. Piper Sandler lifted their price target on BJ's Restaurants from $40.00 to $43.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Zacks Research upgraded BJ's Restaurants from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 3rd. 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 report on Wednesday, May 6th. Finally, Benchmark raised their price objective on BJ's Restaurants from $68.00 to $80.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $56.88.

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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