Bank of New York Mellon Corp Raises Position in Potbelly Corp (PBPB)

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Bank of New York Mellon Corp boosted its stake in Potbelly Corp (NASDAQ:PBPB) by 2.4% in the 4th quarter, Holdings Channel reports. The firm owned 82,935 shares of the company’s stock after acquiring an additional 1,911 shares during the quarter. Bank of New York Mellon Corp’s holdings in Potbelly were worth $668,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wells Fargo & Company MN grew its position in Potbelly by 15.8% during the third quarter. Wells Fargo & Company MN now owns 76,937 shares of the company’s stock valued at $947,000 after acquiring an additional 10,494 shares during the period. Dimensional Fund Advisors LP grew its position in Potbelly by 2.3% during the third quarter. Dimensional Fund Advisors LP now owns 1,458,258 shares of the company’s stock valued at $17,937,000 after acquiring an additional 33,158 shares during the period. Jane Street Group LLC purchased a new stake in Potbelly during the third quarter valued at about $137,000. Vanguard Group Inc. grew its position in Potbelly by 6.1% during the third quarter. Vanguard Group Inc. now owns 1,310,489 shares of the company’s stock valued at $16,119,000 after acquiring an additional 75,769 shares during the period. Finally, Vanguard Group Inc grew its position in Potbelly by 6.1% during the third quarter. Vanguard Group Inc now owns 1,310,489 shares of the company’s stock valued at $16,119,000 after acquiring an additional 75,769 shares during the period. 73.24% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ PBPB opened at $8.75 on Friday. Potbelly Corp has a 1-year low of $7.71 and a 1-year high of $14.15. The stock has a market capitalization of $210.88 million, a PE ratio of 30.17, a P/E/G ratio of 1.91 and a beta of 1.04.

Potbelly (NASDAQ:PBPB) last issued its earnings results on Monday, February 25th. The company reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.03. Potbelly had a positive return on equity of 6.81% and a negative net margin of 2.10%. The company had revenue of $102.37 million during the quarter, compared to the consensus estimate of $103.65 million. During the same quarter in the prior year, the business earned $0.08 earnings per share. The company’s revenue was down 8.7% compared to the same quarter last year. As a group, research analysts expect that Potbelly Corp will post 0.27 EPS for the current fiscal year.

Several equities research analysts have recently weighed in on PBPB shares. Maxim Group reaffirmed a “buy” rating and issued a $11.00 target price (down previously from $12.00) on shares of Potbelly in a research report on Tuesday, February 26th. Zacks Investment Research raised Potbelly from a “sell” rating to a “hold” rating in a research report on Tuesday, January 8th. Finally, Bank of America set a $9.00 target price on Potbelly and gave the stock a “sell” rating in a research report on Tuesday, February 26th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $9.92.

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Potbelly Profile

Potbelly Corporation, through its subsidiaries, owns, operates, and franchises Potbelly Sandwich Works sandwich shops in the United States. The company offers toasty warm sandwiches, salads, soups, chili, sides, desserts, breakfast sandwiches, and steel cut oatmeal. As of February 25, 2019, the company operated approximately 400 shops in the United States; and approximately 50 franchisees operated shops in the United States, the Middle East, Canada, and India.

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Institutional Ownership by Quarter for Potbelly (NASDAQ:PBPB)

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