Victory Capital Management Inc. cut its position in shares of Potbelly Co. (NASDAQ:PBPB – Free Report) by 22.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,943 shares of the company’s stock after selling 21,357 shares during the period. Victory Capital Management Inc. owned about 0.25% of Potbelly worth $632,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of the company. CI Private Wealth LLC acquired a new stake in Potbelly in the 4th quarter valued at $68,000. Citadel Advisors LLC acquired a new stake in Potbelly in the 3rd quarter valued at $71,000. Barclays PLC acquired a new stake in Potbelly in the 1st quarter valued at $87,000. Charles Schwab Investment Management Inc. acquired a new stake in Potbelly in the 1st quarter valued at $97,000. Finally, Ritholtz Wealth Management acquired a new position in Potbelly in the second quarter worth $103,000. 63.31% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
PBPB has been the topic of a number of recent analyst reports. Craig Hallum initiated coverage on Potbelly in a research note on Tuesday, October 17th. They issued a “buy” rating and a $15.00 price objective on the stock. Benchmark initiated coverage on Potbelly in a research note on Tuesday, October 3rd. They issued a “hold” rating on the stock. Lake Street Capital initiated coverage on Potbelly in a research note on Tuesday, October 24th. They issued a “buy” rating and a $11.00 price objective on the stock. Finally, StockNews.com raised Potbelly from a “hold” rating to a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $13.00.
Potbelly Trading Up 9.7 %
PBPB stock opened at $9.65 on Friday. The company has a market cap of $282.94 million, a P/E ratio of 22.98 and a beta of 1.38. Potbelly Co. has a twelve month low of $4.95 and a twelve month high of $11.14. The company has a quick ratio of 0.66, a current ratio of 0.71 and a debt-to-equity ratio of 2.93. The business has a fifty day moving average of $8.01 and a 200-day moving average of $8.55.
Potbelly (NASDAQ:PBPB – Get Free Report) last released its earnings results on Thursday, August 3rd. The company reported $0.07 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.07. The company had revenue of $126.62 million during the quarter, compared to the consensus estimate of $127.10 million. Potbelly had a return on equity of 131.76% and a net margin of 2.60%. As a group, equities research analysts expect that Potbelly Co. will post 0.15 EPS for the current year.
Potbelly Corporation, through its subsidiaries, owns, operates, and franchises Potbelly sandwich shops in the United States. The company was formerly known as Potbelly Sandwich Works, Inc and changed its name to Potbelly Corporation in 2002. Potbelly Corporation was founded in 1977 and is headquartered in Chicago, Illinois.
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