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BJRI BJ`s Restaurant

BJ's Restaurants, Inc. ('BJ's') is a national brand with brewhouse roots and a menu where craft matters. BJ's broad menu has something for everyone: slow-roasted entrees, like prime rib, BJ's EnLIGHTened Entrees® including Cherry Chipotle Glazed Salmon, signature deep dish pizza and the often imitated, but never replicated world-famous Pizookie® dessert. BJ's has been a pioneer in the craft brewing world since 1996, and takes pride in serving BJ's award-winning proprietary handcrafted beers, brewed at its brewing operations in five states and by independent third party craft brewers. The BJ's experience offers high-quality ingredients, bold flavors, moderate prices, sincere service and a cool, contemporary atmosphere. Founded in 1978, BJ's owns and operates 210 casual dining restaurants in 29 states: Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Florida, Indiana, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia and Washington. All restaurants offer dine-in, take-out, delivery and large party catering. Due to the COVID-19 pandemic, one of our restaurants remains temporarily closed, and dine-in service is currently limited or not available and hours are limited in our remaining 209 restaurants.

Company profile

Ticker
BJRI
Exchange
CEO
Gregory Trojan
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
CHICAGO PIZZA & BREWERY INC
SEC CIK
IRS number
330485615

BJRI stock data

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Calendar

4 May 21
13 Jun 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Jan 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 90.25M 90.25M 90.25M 90.25M 90.25M 90.25M
Cash burn (monthly) (positive/no burn) (positive/no burn) 3.1M 7.47M (positive/no burn) (positive/no burn)
Cash used (since last report) n/a n/a 7.72M 18.58M n/a n/a
Cash remaining n/a n/a 82.53M 71.67M n/a n/a
Runway (months of cash) n/a n/a 26.6 9.6 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
7 Jun 21 Krakower Brian S Common Stock Sell Dispose S No No 51.72 2,768 143.16K 3,639
7 Jun 21 Krakower Brian S Common Stock Option exercise Aquire M No No 35.95 2,768 99.51K 6,407
7 Jun 21 Krakower Brian S Common Stock Sell Dispose S No No 51.72 1,500 77.58K 3,639
7 Jun 21 Krakower Brian S Common Stock Option exercise Aquire M No No 37.7 1,500 56.55K 5,139
7 Jun 21 Krakower Brian S Common Stock Sell Dispose S No No 51.72 656 33.93K 3,639
7 Jun 21 Krakower Brian S Common Stock Option exercise Aquire M No No 29.88 656 19.6K 4,295
7 Jun 21 Krakower Brian S NQSO Common Stock Option exercise Dispose M No No 37.7 1,500 56.55K 3,151
7 Jun 21 Krakower Brian S NQSO Common Stock Option exercise Dispose M No No 35.95 2,768 99.51K 0
7 Jun 21 Krakower Brian S NQSO Common Stock Option exercise Dispose M No No 29.88 656 19.6K 0
6 May 21 Gregory S Lynds Common Stock Sell Dispose S No No 59.22 7,695 455.7K 30,600

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 155 150 +3.3%
Opened positions 31 29 +6.9%
Closed positions 26 23 +13.0%
Increased positions 53 56 -5.4%
Reduced positions 47 42 +11.9%
13F shares
Current Prev Q Change
Total value 2.13B 1.16B +82.8%
Total shares 25.41M 23.74M +7.0%
Total puts 76K 257.4K -70.5%
Total calls 358.7K 328.2K +9.3%
Total put/call ratio 0.2 0.8 -73.0%
Largest owners
Shares Value Change
TROW T. Rowe Price 4.06M $235.67M +6.2%
BLK Blackrock 3.69M $214.41M +7.5%
Vanguard 2.26M $131.13M +2.6%
Act III 1.4M $52.6M 0.0%
Wellington Management 1.03M $59.63M +190.0%
IVZ Invesco 893.79K $51.91M +5.3%
Dimensional Fund Advisors 842.73K $49.05M -14.3%
STT State Street 737.42K $42.83M +1.1%
Cramer Rosenthal MCGLYNN 687.11K $39.91M NEW
American Century Companies 498.29K $28.94M +0.5%
Largest transactions
Shares Bought/sold Change
Russell Investments 396.03K -1.24M -75.8%
Cramer Rosenthal MCGLYNN 687.11K +687.11K NEW
Wellington Management 1.03M +672.68K +190.0%
Granite Investment Partners 354K +354K NEW
Emerald Mutual Fund Advisers Trust 346.14K +346.14K NEW
Emerald Advisers 338.27K +338.27K NEW
Driehaus Capital Management 310.2K +310.2K NEW
BLK Blackrock 3.69M +257.52K +7.5%
TROW T. Rowe Price 4.06M +235.33K +6.2%
Samlyn Capital 296.3K +214.88K +263.9%

Financial report summary

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Risks
  • The restaurant industry is highly competitive. Any inability to maintain our brand image and compete effectively in the restaurant industry may adversely affect our revenues, profitability and financial results.
  • Negative publicity about us, our restaurants, other restaurants, or others across the food supply chain, due to food borne illness or for other reasons, whether or not accurate, may adversely affect the reputation and popularity of our restaurants and our results of operations.
  • Health concerns arising from food-borne or other illnesses or specific categories of foods may adversely affect our business.
  • Increases or changes in off-premise sales may adversely affect our operating results.
  • Any deterioration in general economic conditions which adversely affects consumer spending, our landlords or businesses neighboring our locations, may adversely affect our results of operations.
  • Changes in consumer buying patterns, particularly e-commerce sites and off-premise sales affect our revenues, operating results and liquidity.
  • Any adverse change in consumer trends or traffic levels may adversely affect our business, revenues and results of operations.
  • Any inability or failure to recognize, respond to and effectively manage the accelerated impact of social media may adversely affect our business.
  • Our past and recent trends in average restaurant sales or comparable restaurant sales may not be indicative of future trends or future operating results.
  • Any inability to open new restaurants on schedule in accordance with our targeted capacity growth or problems associated with securing suitable restaurant locations, leases and licenses, recruiting and training qualified managers and hourly employees and other factors, some of which are beyond our control and difficult to forecast accurately may adversely affect our operations.
  • Our inability to renew existing leases on favorable terms may adversely affect our results of operations.
  • Any adverse changes in the supply or cost of food, brewing, energy and other expenses may adversely affect our operating results.
  • We may be subject to increased labor costs which could adversely affect our results of operations.
  • Any inability or failure of distributors or suppliers to provide food and beverages to us in a timely fashion may adversely affect our reputation, customer patronage, revenues and results of operations.
  • Any inability of us to secure or maintain third party beer distribution arrangements may adversely affect our operating results.
  • Any inability of our internal or independent third party brewers to timely supply our beer may adversely affect our operating results.
  • Our corporate office is located in California and a significant number of our restaurants are located in California, Texas and Florida which makes us particularly sensitive to economic, regulatory, weather and other risk factors and conditions that are more prevalent in those states.
  • The COVID-19 pandemic has materially disrupted and is expected to continue to materially disrupt for an extended period of time our business, operations, financial condition and results of operations.
Management Discussion
  • Revenues. Total revenues decreased by $382.9 million, or 33.0%, to $778.5 million during fiscal 2020, from $1.2 billion during fiscal 2019. The decrease in revenues primarily consisted of a 34.0%, or $384.4 million, decrease in comparable restaurant sales, coupled with a $6.2 million decrease related to our temporarily closed restaurants and the permanent closure of our smaller format restaurant in Balboa, California in November 2019, partially offset by a $7.6 million increase in sales from new restaurants not yet in our comparable restaurant sales base. The decrease in comparable restaurant sales and the temporary closures of four of our restaurants were due to the business disruptions resulting from the efforts to contain the COVID-19 pandemic, including government mandated closing or limiting of dine-in restaurant operations. All of our dine-in restaurant operations were closed from March to May. As dining rooms re-opened throughout fiscal 2020, they re-opened with reduced capacity and curfews resulting in lower sales. Additionally, in November 2020, rising COVID-19 cases caused many states to close and/or significantly reduce capacity for dine-in restaurant operations. In December 2020, California, where we operate 62 of our 210 restaurants, closed all dining rooms and outdoor patio seating limiting our sales in the state to only delivery and take-out.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
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