Bank of New York Mellon Corp lifted its position in BJ’s Restaurants, Inc. (NASDAQ:BJRI) by 8.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 299,165 shares of the restaurant operator’s stock after purchasing an additional 22,738 shares during the quarter. Bank of New York Mellon Corp’s holdings in BJ’s Restaurants were worth $17,949,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Engineers Gate Manager LP acquired a new position in BJ’s Restaurants during the second quarter worth $2,750,000. Landscape Capital Management L.L.C. raised its stake in BJ’s Restaurants by 24.9% during the first quarter. Landscape Capital Management L.L.C. now owns 207,600 shares of the restaurant operator’s stock worth $9,321,000 after acquiring an additional 41,336 shares in the last quarter. Segall Bryant & Hamill LLC raised its stake in BJ’s Restaurants by 2.5% during the first quarter. Segall Bryant & Hamill LLC now owns 106,231 shares of the restaurant operator’s stock worth $4,770,000 after acquiring an additional 2,588 shares in the last quarter. Acadian Asset Management LLC raised its stake in BJ’s Restaurants by 434.7% during the second quarter. Acadian Asset Management LLC now owns 385,173 shares of the restaurant operator’s stock worth $23,108,000 after acquiring an additional 313,144 shares in the last quarter. Finally, Swiss National Bank raised its stake in BJ’s Restaurants by 3.3% during the first quarter. Swiss National Bank now owns 31,600 shares of the restaurant operator’s stock worth $1,419,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 95.27% of the company’s stock.

Several research firms have issued reports on BJRI. Zacks Investment Research lowered BJ’s Restaurants from a “strong-buy” rating to a “hold” rating in a research note on Monday. Stifel Nicolaus increased their price objective on BJ’s Restaurants from $66.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, July 27th. Piper Jaffray Companies increased their price objective on BJ’s Restaurants from $60.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, July 27th. Wedbush increased their price objective on BJ’s Restaurants from $66.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, July 27th. Finally, BidaskClub upgraded BJ’s Restaurants from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 28th. Six equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $59.58.

In related news, CMO Kevin E. Mayer sold 925 shares of the firm’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $62.85, for a total value of $58,136.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alex Puchner sold 3,907 shares of the firm’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $62.63, for a total value of $244,695.41. Following the completion of the transaction, the insider now owns 4,480 shares in the company, valued at approximately $280,582.40. The disclosure for this sale can be found here. Insiders have sold 301,614 shares of company stock worth $21,777,152 in the last 90 days. Company insiders own 6.80% of the company’s stock.

Shares of BJRI stock opened at $72.00 on Tuesday. The company has a current ratio of 0.44, a quick ratio of 0.36 and a debt-to-equity ratio of 0.37. The firm has a market cap of $1.53 billion, a PE ratio of 51.06, a price-to-earnings-growth ratio of 2.25 and a beta of 0.74. BJ’s Restaurants, Inc. has a 52 week low of $28.85 and a 52 week high of $76.50.

BJ’s Restaurants (NASDAQ:BJRI) last announced its earnings results on Thursday, July 26th. The restaurant operator reported $0.79 EPS for the quarter, topping the consensus estimate of $0.64 by $0.15. The company had revenue of $287.63 million for the quarter, compared to analysts’ expectations of $283.22 million. BJ’s Restaurants had a return on equity of 15.76% and a net margin of 5.35%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 earnings per share. equities analysts predict that BJ’s Restaurants, Inc. will post 2.12 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 27th. Stockholders of record on Monday, August 13th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend was Friday, August 10th. BJ’s Restaurants’s payout ratio is presently 31.21%.

BJ’s Restaurants Company Profile

BJ's Restaurants, Inc owns and operates casual dining restaurants in the United States. Its restaurants offer pizzas, craft and other beers, appetizers, entrées, pastas, sandwiches, specialty salads, and desserts. As of September 4, 2018, the company owned and operated 201 casual dining restaurants located in the 27 states of Alabama, Arizona, Arkansas, California, Colorado, Florida, Indiana, Kansas, Kentucky, Louisiana, Maryland, Michigan, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Rhode Island, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and Washington.

Read More: Return on Equity (ROE)

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Institutional Ownership by Quarter for BJ`s Restaurants (NASDAQ:BJRI)

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