Russell Investments Group Ltd. Sells 16,138 Shares of Potbelly Corporation $PBPB

Russell Investments Group Ltd. lowered its stake in Potbelly Corporation (NASDAQ:PBPB) by 5.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 289,004 shares of the company’s stock after selling 16,138 shares during the period. Russell Investments Group Ltd. owned approximately 0.96% of Potbelly worth $2,748,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of PBPB. LPL Financial LLC grew its position in Potbelly by 50.8% in the fourth quarter. LPL Financial LLC now owns 19,610 shares of the company’s stock valued at $185,000 after acquiring an additional 6,610 shares during the last quarter. JPMorgan Chase & Co. grew its position in Potbelly by 46.3% in the fourth quarter. JPMorgan Chase & Co. now owns 98,124 shares of the company’s stock valued at $924,000 after acquiring an additional 31,071 shares during the last quarter. Wells Fargo & Company MN grew its position in Potbelly by 50.6% in the fourth quarter. Wells Fargo & Company MN now owns 12,883 shares of the company’s stock valued at $121,000 after acquiring an additional 4,328 shares during the last quarter. Barclays PLC grew its position in Potbelly by 9.3% in the fourth quarter. Barclays PLC now owns 43,480 shares of the company’s stock valued at $410,000 after acquiring an additional 3,700 shares during the last quarter. Finally, Marshall Wace LLP grew its position in Potbelly by 758.4% in the fourth quarter. Marshall Wace LLP now owns 195,775 shares of the company’s stock valued at $1,844,000 after acquiring an additional 172,969 shares during the last quarter. Institutional investors own 72.60% of the company’s stock.

Analyst Ratings Changes

PBPB has been the topic of a number of recent analyst reports. Benchmark lifted their target price on Potbelly from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Wall Street Zen cut Potbelly from a “buy” rating to a “hold” rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Potbelly has an average rating of “Moderate Buy” and an average price target of $18.00.

Potbelly Trading Up 2.9%

Shares of PBPB stock opened at $12.74 on Monday. The business’s 50-day moving average price is $12.25 and its 200-day moving average price is $10.83. Potbelly Corporation has a 12 month low of $7.27 and a 12 month high of $13.67. The firm has a market capitalization of $385.51 million, a price-to-earnings ratio of 36.40 and a beta of 1.55.

Potbelly (NASDAQ:PBPB) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. Potbelly had a return on equity of 16.31% and a net margin of 2.30%.The firm had revenue of $123.71 million for the quarter, compared to analyst estimates of $122.65 million. On average, sell-side analysts predict that Potbelly Corporation will post 0.24 earnings per share for the current fiscal year.

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.