Northern Trust Corp Raises Stock Holdings in Potbelly Co. (NASDAQ:PBPB)

Northern Trust Corp grew its position in Potbelly Co. (NASDAQ:PBPB) by 2.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 223,751 shares of the company’s stock after acquiring an additional 6,013 shares during the quarter. Northern Trust Corp owned about 0.75% of Potbelly worth $2,108,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Monimus Capital Management LP acquired a new stake in Potbelly during the 4th quarter worth approximately $4,901,000. Marshall Wace LLP raised its stake in shares of Potbelly by 758.4% during the fourth quarter. Marshall Wace LLP now owns 195,775 shares of the company’s stock worth $1,844,000 after purchasing an additional 172,969 shares during the last quarter. Vantage Consulting Group Inc purchased a new stake in shares of Potbelly during the fourth quarter worth approximately $1,553,000. Hodges Capital Management Inc. lifted its holdings in shares of Potbelly by 42.1% during the fourth quarter. Hodges Capital Management Inc. now owns 539,915 shares of the company’s stock worth $5,086,000 after purchasing an additional 159,900 shares during the period. Finally, American Century Companies Inc. grew its position in Potbelly by 139.3% in the 4th quarter. American Century Companies Inc. now owns 147,147 shares of the company’s stock valued at $1,386,000 after buying an additional 85,651 shares during the last quarter. 72.60% of the stock is owned by hedge funds and other institutional investors.

Potbelly Stock Down 0.6%

Shares of Potbelly stock opened at $9.88 on Monday. The company has a market cap of $298.10 million, a P/E ratio of 7.90 and a beta of 1.47. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.43 and a current ratio of 0.49. Potbelly Co. has a one year low of $6.28 and a one year high of $13.48. The firm has a fifty day moving average of $9.03 and a two-hundred day moving average of $10.12.

Insider Transactions at Potbelly

In related news, major shareholder David Nierenberg purchased 22,169 shares of the stock in a transaction dated Friday, March 28th. The shares were acquired at an average cost of $9.36 per share, with a total value of $207,501.84. Following the purchase, the insider now directly owns 124,167 shares in the company, valued at $1,162,203.12. This trade represents a 21.73% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 10.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. William Blair restated a “market perform” rating on shares of Potbelly in a research report on Thursday, March 20th. Benchmark restated a “buy” rating and set a $16.00 price objective on shares of Potbelly in a research report on Friday, March 7th. Finally, Wall Street Zen downgraded shares of Potbelly from a “buy” rating to a “hold” rating in a research report on Friday, May 16th.

About Potbelly

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.