Potbelly Co. (NASDAQ:PBPB) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in shares of Potbelly Co. (NASDAQ:PBPB) by 9.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,048 shares of the company’s stock after purchasing an additional 7,012 shares during the period. Bank of New York Mellon Corp owned about 0.29% of Potbelly worth $683,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PBPB. Quadrature Capital Ltd acquired a new stake in Potbelly in the fourth quarter valued at approximately $216,000. BNP Paribas Financial Markets lifted its position in shares of Potbelly by 7.0% during the 1st quarter. BNP Paribas Financial Markets now owns 22,385 shares of the company’s stock worth $271,000 after purchasing an additional 1,472 shares during the last quarter. Tectonic Advisors LLC purchased a new stake in shares of Potbelly during the 1st quarter worth $271,000. Campbell & CO Investment Adviser LLC grew its stake in shares of Potbelly by 73.1% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 45,269 shares of the company’s stock worth $472,000 after purchasing an additional 19,118 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in Potbelly by 17.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 56,722 shares of the company’s stock valued at $591,000 after buying an additional 8,586 shares during the last quarter. Institutional investors and hedge funds own 72.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Benchmark reiterated a “buy” rating and issued a $16.00 price objective on shares of Potbelly in a report on Monday, August 12th. Craig Hallum cut their price objective on shares of Potbelly from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.33.

Potbelly Price Performance

Potbelly stock opened at $8.22 on Monday. The stock has a market capitalization of $245.30 million, a P/E ratio of 68.50 and a beta of 1.18. Potbelly Co. has a 12-month low of $6.28 and a 12-month high of $14.36. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.45 and a quick ratio of 0.39. The firm’s 50-day moving average is $7.59 and its two-hundred day moving average is $8.88.

Potbelly (NASDAQ:PBPB) last released its earnings results on Thursday, August 8th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. The business had revenue of $119.70 million for the quarter, compared to analysts’ expectations of $119.00 million. Potbelly had a net margin of 7.58% and a return on equity of 21.42%. During the same period last year, the company earned $0.07 earnings per share. Equities analysts predict that Potbelly Co. will post 0.2 earnings per share for the current year.

Insiders Place Their Bets

In other Potbelly news, major shareholder Nierenberg Investment Manageme bought 23,394 shares of the stock in a transaction dated Wednesday, August 7th. The stock was bought at an average cost of $6.62 per share, for a total transaction of $154,868.28. Following the completion of the purchase, the insider now directly owns 1,561,985 shares of the company’s stock, valued at $10,340,340.70. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 9.10% of the stock is owned by company insiders.

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.