Bank of America Corp DE Acquires 6,695 Shares of Potbelly Corp (NASDAQ:PBPB)

Bank of America Corp DE boosted its holdings in Potbelly Corp (NASDAQ:PBPB) by 97.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,587 shares of the company’s stock after purchasing an additional 6,695 shares during the quarter. Bank of America Corp DE owned about 0.05% of Potbelly worth $109,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Rhumbline Advisers increased its stake in Potbelly by 49.7% in the 4th quarter. Rhumbline Advisers now owns 29,858 shares of the company’s stock valued at $240,000 after buying an additional 9,918 shares during the period. Bessemer Group Inc. lifted its holdings in Potbelly by 19,450.0% in the 4th quarter. Bessemer Group Inc. now owns 39,100 shares of the company’s stock valued at $315,000 after purchasing an additional 38,900 shares in the last quarter. Barclays PLC lifted its holdings in Potbelly by 220.9% in the 4th quarter. Barclays PLC now owns 53,159 shares of the company’s stock valued at $428,000 after purchasing an additional 36,592 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in Potbelly by 47.6% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 58,047 shares of the company’s stock valued at $467,000 after purchasing an additional 18,725 shares in the last quarter. Finally, Boston Partners purchased a new position in Potbelly in the 4th quarter valued at about $471,000. Hedge funds and other institutional investors own 72.40% of the company’s stock.

Several brokerages have recently weighed in on PBPB. Zacks Investment Research lowered shares of Potbelly from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th. Maxim Group lowered shares of Potbelly from a “buy” rating to a “hold” rating and cut their price target for the company from $11.00 to $8.00 in a report on Wednesday, May 8th. Finally, Bank of America set a $9.00 price target on Potbelly and gave the stock a “sell” rating in a report on Tuesday, February 26th. Four analysts have rated the stock with a sell rating and one has given a hold rating to the company. Potbelly presently has a consensus rating of “Sell” and a consensus target price of $8.92.

NASDAQ:PBPB traded down $0.02 during mid-day trading on Wednesday, hitting $4.96. 124,421 shares of the stock were exchanged, compared to its average volume of 246,781. The stock’s 50-day moving average price is $5.36. Potbelly Corp has a fifty-two week low of $4.38 and a fifty-two week high of $14.15. The company has a debt-to-equity ratio of 2.85, a current ratio of 0.62 and a quick ratio of 0.56. The stock has a market cap of $119.22 million, a PE ratio of 17.10 and a beta of 1.43.

Potbelly (NASDAQ:PBPB) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.12) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.08). The company had revenue of $98.09 million for the quarter, compared to the consensus estimate of $100.96 million. Potbelly had a positive return on equity of 3.85% and a negative net margin of 6.01%. Potbelly’s revenue was down 4.7% on a year-over-year basis. During the same quarter last year, the business earned $0.03 EPS. As a group, equities analysts anticipate that Potbelly Corp will post -0.03 EPS for the current fiscal year.

Potbelly Company 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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