JPMorgan Chase & Co. Buys 31,071 Shares of Potbelly Co. (NASDAQ:PBPB)

JPMorgan Chase & Co. boosted its stake in shares of Potbelly Co. (NASDAQ:PBPB) by 46.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,124 shares of the company’s stock after purchasing an additional 31,071 shares during the quarter. JPMorgan Chase & Co. owned about 0.33% of Potbelly worth $924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. LPL Financial LLC boosted its position in Potbelly by 50.8% during the fourth quarter. LPL Financial LLC now owns 19,610 shares of the company’s stock valued at $185,000 after purchasing an additional 6,610 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Potbelly by 139.3% during the fourth quarter. American Century Companies Inc. now owns 147,147 shares of the company’s stock worth $1,386,000 after acquiring an additional 85,651 shares during the last quarter. Monimus Capital Management LP purchased a new stake in shares of Potbelly during the fourth quarter worth about $4,901,000. First Eagle Investment Management LLC increased its holdings in shares of Potbelly by 4.4% during the fourth quarter. First Eagle Investment Management LLC now owns 1,160,828 shares of the company’s stock valued at $10,935,000 after acquiring an additional 49,000 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in Potbelly during the 4th quarter worth approximately $520,000. Institutional investors own 72.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on PBPB. Benchmark reaffirmed a “buy” rating and issued a $16.00 price target on shares of Potbelly in a report on Friday, March 7th. William Blair reaffirmed a “market perform” rating on shares of Potbelly in a report on Thursday, March 20th. Finally, StockNews.com cut shares of Potbelly from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th.

Insider Transactions at Potbelly

In other Potbelly news, major shareholder David Nierenberg acquired 22,169 shares of the business’s stock in a transaction dated Friday, March 28th. The shares were purchased at an average price of $9.36 per share, for a total transaction of $207,501.84. Following the completion of the purchase, the insider now directly owns 124,167 shares of the company’s stock, valued at $1,162,203.12. The trade was a 21.73 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 10.20% of the company’s stock.

Potbelly Stock Down 1.8 %

NASDAQ:PBPB opened at $8.13 on Tuesday. The firm has a market capitalization of $245.30 million, a P/E ratio of 6.50 and a beta of 1.38. Potbelly Co. has a 1-year low of $6.28 and a 1-year high of $13.48. The company’s fifty day moving average price is $9.61 and its 200-day moving average price is $9.92. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.49 and a quick ratio of 0.43.

Potbelly 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.