C Bradford Richmond Purchases 500 Shares of BJ's Restaurants (NASDAQ:BJRI) Stock

Key Points

• Director C. Bradford Richmond purchased 500 BJ’s Restaurants shares at an average price of $61.05, investing $30,525 and increasing his direct ownership to 36,000 shares. He had also bought 753 shares two days earlier.
• BJRI shares fell 1.7% to $60.71, while the company’s latest quarterly results exceeded expectations: adjusted EPS was $0.94 versus a $0.90 estimate, and revenue rose 6.4% year over year to $388.89 million.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $56.88; institutional investors and hedge funds own approximately 99.95% of the stock.

BJ's Restaurants, Inc. (NASDAQ:BJRI - Get Free Report) Director C Bradford Richmond bought 500 shares of the firm's stock in a transaction on Wednesday, September 2nd. The stock was bought at an average cost of $61.05 per share, for a total transaction of $30,525.00. Following the transaction, the director directly owned 36,000 shares of the company's stock, valued at $2,197,800. The trade was a 1.41% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

C Bradford Richmond also recently made the following trade(s):

• On Monday, August 31st, C Bradford Richmond purchased 753 shares of BJ's Restaurants stock. The shares were bought at an average price of $63.25 per share, with a total value of $47,627.25.

BJ's Restaurants Trading Down 1.7%

Shares of BJ's Restaurants stock traded down $1.04 on Wednesday, reaching $60.71. The company had a trading volume of 484,686 shares, compared to its average volume of 456,410. The firm's 50 day moving average price is $64.83 and its two-hundred day moving average price is $49.33. The firm has a market cap of $1.29 billion, a PE ratio of 32.47, a PEG ratio of 1.86 and a beta of 1.30. BJ's Restaurants, Inc. has a 52-week low of $28.46 and a 52-week high of $74.60. 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 (NASDAQ:BJRI - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The restaurant operator reported $0.94 EPS 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 firm had revenue of $388.89 million for the quarter, compared to analyst estimates of $377.07 million. During the same period in the prior year, the business posted $0.97 EPS. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. Sell-side analysts predict that BJ's Restaurants, Inc. will post 2.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BJ's Restaurants

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in BJ's Restaurants during the second quarter worth $200,006,000. UBS Group AG boosted its position in shares of BJ's Restaurants by 576.9% in the 3rd quarter. UBS Group AG now owns 1,451,883 shares of the restaurant operator's stock worth $44,326,000 after buying an additional 1,237,383 shares in the last quarter. California State Teachers Retirement System grew its stake in BJ's Restaurants by 5,787.3% in the 2nd 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 during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in BJ's Restaurants by 48.8% in the 3rd 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 during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in BJ's Restaurants during the 2nd quarter valued at about $13,380,000. 99.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Benchmark lifted their price objective on BJ's Restaurants from $68.00 to $80.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Mizuho set a $74.00 price target on shares of BJ's Restaurants in a research note on Friday, July 31st. Weiss Ratings upgraded shares of BJ's Restaurants from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, August 21st. Piper Sandler lifted their price objective on shares of BJ's Restaurants from $40.00 to $43.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Finally, Barclays lowered their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus 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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