12 Best Pizza Stocks to Buy According to Hedge Funds

9. BJ’s Restaurants, Inc. (NASDAQ:BJRI)

Hedge Fund Holders: 18

BJ’s Restaurants, Inc. (NASDAQ:BJRI) owns and operates casual dining restaurants, including BJ’s Pizza, BJ’s Restaurant and Brewery, and BJ’s Restaurant & Brewhouse. The company offers pizza, beer, appetizers, and other food items. Its original deep-dish pizza and the Pizookie dessert are popular offerings. The company owns and operates around 200 casual dining restaurants across 30 US states.

BJ’s Restaurants, Inc., (NASDAQ:BJRI) is operating from a position of relative strength. Its brands serve more than a million guests a week. The company generated annual sales of more than $1.3 billion and free cash flow from operations of more than $100 million.

The company’s operations thus show optimistic signs. Its total revenue increased to $325.7 million in fiscal Q3 2024, experiencing a 2.2% increase compared to last year. Its fiscal Q3 sales also increased by 1.7%. The company’s sales-driving initiatives grew its sales, market share, and traffic in fiscal Q3 2024. BJ’s Restaurants, Inc.’s (NASDAQ:BJRI) capital allocation strategy prioritizes high-return investments, including a mix of new restaurant growth and remodels. It opened two new restaurants in fiscal Q3 2024 and has plans to continue this growth in fiscal 2025. The company ranks ninth on our list of the 12 best pizza stocks to buy according to hedge funds.