Potbelly Corporation (PBPB) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in shares of Potbelly Corporation (NASDAQ:PBPB) by 54.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 107,147 shares of the company’s stock after selling 126,489 shares during the quarter. Bank of New York Mellon Corp’s holdings in Potbelly were worth $1,328,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PBPB. Schwab Charles Investment Management Inc. boosted its position in Potbelly by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 74,618 shares of the company’s stock worth $859,000 after purchasing an additional 456 shares in the last quarter. Rhumbline Advisers boosted its position in Potbelly by 5.8% during the second quarter. Rhumbline Advisers now owns 26,741 shares of the company’s stock worth $308,000 after purchasing an additional 1,470 shares in the last quarter. Prudential Financial Inc. boosted its position in Potbelly by 60.8% during the second quarter. Prudential Financial Inc. now owns 79,100 shares of the company’s stock worth $910,000 after purchasing an additional 29,900 shares in the last quarter. Wells Fargo & Company MN boosted its position in Potbelly by 9.6% during the second quarter. Wells Fargo & Company MN now owns 67,092 shares of the company’s stock worth $771,000 after purchasing an additional 5,869 shares in the last quarter. Finally, Martingale Asset Management L P boosted its position in Potbelly by 8.4% during the second quarter. Martingale Asset Management L P now owns 99,442 shares of the company’s stock worth $1,144,000 after purchasing an additional 7,700 shares in the last quarter. Institutional investors own 73.29% of the company’s stock.

Shares of Potbelly Corporation (PBPB) opened at $12.95 on Thursday. Potbelly Corporation has a 12-month low of $10.50 and a 12-month high of $14.28. The stock has a market capitalization of $322.86, a price-to-earnings ratio of 143.89, a PEG ratio of 1.78 and a beta of 0.93.

Potbelly (NASDAQ:PBPB) last issued its quarterly earnings data on Friday, November 3rd. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.01. Potbelly had a return on equity of 7.80% and a net margin of 0.54%. The business had revenue of $106.10 million for the quarter, compared to the consensus estimate of $107.75 million. During the same period in the prior year, the business earned $0.12 earnings per share. The business’s revenue was up 2.2% on a year-over-year basis. analysts forecast that Potbelly Corporation will post 0.3 EPS for the current fiscal year.

PBPB has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Potbelly from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Wednesday. Robert W. Baird reiterated a “hold” rating and set a $13.00 target price on shares of Potbelly in a research report on Tuesday, September 19th. Maxim Group reiterated a “hold” rating and set a $13.00 target price (up from $12.00) on shares of Potbelly in a research report on Monday, December 4th. Piper Jaffray Companies upgraded Potbelly from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $12.00 to $17.00 in a research report on Thursday, September 28th. Finally, BidaskClub downgraded Potbelly from a “sell” rating to a “strong sell” rating in a research report on Friday, December 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $14.50.

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Potbelly Profile

Potbelly Corporation owns and operates Potbelly Sandwich Works sandwich shops in the United States. The Company has domestic and international franchise operations of Potbelly Sandwich Works sandwich shops. As of December 25, 2016, the Company operated Potbelly Sandwich Works sandwich shops in 29 states and the District of Columbia.

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Institutional Ownership by Quarter for Potbelly (NASDAQ:PBPB)

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