Cerity Partners LLC Sells 13,570 Shares of Potbelly Co. (NASDAQ:PBPB)

Cerity Partners LLC decreased its holdings in shares of Potbelly Co. (NASDAQ:PBPB) by 4.6% in the fourth quarter, HoldingsChannel reports. The fund owned 279,182 shares of the company’s stock after selling 13,570 shares during the quarter. Cerity Partners LLC’s holdings in Potbelly were worth $2,909,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in Potbelly by 201.1% in the 2nd quarter. Royal Bank of Canada now owns 2,927 shares of the company’s stock worth $25,000 after buying an additional 1,955 shares during the period. Allspring Global Investments Holdings LLC bought a new position in Potbelly in the 3rd quarter worth $37,000. CI Private Wealth LLC bought a new position in Potbelly in the 4th quarter worth $68,000. Citigroup Inc. boosted its holdings in Potbelly by 110,914.3% in the 2nd quarter. Citigroup Inc. now owns 7,771 shares of the company’s stock worth $68,000 after buying an additional 7,764 shares during the period. Finally, Citadel Advisors LLC bought a new position in Potbelly in the 3rd quarter worth $71,000. Institutional investors own 72.60% of the company’s stock.

Potbelly Stock Up 1.9 %

PBPB opened at $10.29 on Friday. The firm has a 50-day simple moving average of $12.10 and a two-hundred day simple moving average of $10.78. Potbelly Co. has a 52 week low of $7.12 and a 52 week high of $14.36. The company has a market capitalization of $305.41 million, a PE ratio of 64.31 and a beta of 1.32. The company has a quick ratio of 0.70, a current ratio of 0.75 and a debt-to-equity ratio of 1.36.

Potbelly (NASDAQ:PBPB) last announced its earnings results on Thursday, March 7th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. The firm had revenue of $125.75 million for the quarter, compared to analysts’ expectations of $125.80 million. Potbelly had a net margin of 1.04% and a return on equity of 50.06%. Analysts forecast that Potbelly Co. will post 0.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Benchmark raised shares of Potbelly from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a report on Friday, January 12th. William Blair reissued a “market perform” rating on shares of Potbelly in a report on Friday, March 8th. Finally, StockNews.com downgraded shares of Potbelly from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $13.67.

Potbelly Company Profile

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.