Wells Fargo & Company MN Cuts Stock Holdings in Potbelly Corp (NASDAQ:PBPB)

Wells Fargo & Company MN reduced its position in shares of Potbelly Corp (NASDAQ:PBPB) by 51.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,127 shares of the company’s stock after selling 41,285 shares during the period. Wells Fargo & Company MN owned 0.16% of Potbelly worth $199,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PBPB. AdvisorNet Financial Inc purchased a new stake in Potbelly during the 2nd quarter worth approximately $86,000. SG Americas Securities LLC increased its stake in Potbelly by 239.0% during the 2nd quarter. SG Americas Securities LLC now owns 76,403 shares of the company’s stock worth $389,000 after buying an additional 53,866 shares in the last quarter. Summit Global Investments increased its stake in Potbelly by 26.7% during the 1st quarter. Summit Global Investments now owns 89,344 shares of the company’s stock worth $760,000 after buying an additional 18,844 shares in the last quarter. Finally, GSA Capital Partners LLP increased its stake in Potbelly by 890.9% during the 2nd quarter. GSA Capital Partners LLP now owns 153,808 shares of the company’s stock worth $783,000 after buying an additional 138,286 shares in the last quarter. Institutional investors own 60.94% of the company’s stock.

PBPB stock opened at $3.94 on Friday. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.56 and a current ratio of 0.62. The business has a 50 day simple moving average of $4.46 and a 200-day simple moving average of $5.65. Potbelly Corp has a 1 year low of $3.10 and a 1 year high of $13.54.

Potbelly (NASDAQ:PBPB) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.08). The company had revenue of $105.60 million during the quarter, compared to analysts’ expectations of $106.01 million. Potbelly had a negative net margin of 6.45% and a positive return on equity of 0.10%. Potbelly’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the company earned $0.13 earnings per share. As a group, equities research analysts predict that Potbelly Corp will post -0.12 EPS for the current fiscal year.

A number of equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded Potbelly from a “strong sell” rating to a “hold” rating in a research report on Wednesday. Maxim Group set a $4.00 price target on Potbelly and gave the company a “hold” rating in a research report on Wednesday, August 7th. Finally, ValuEngine upgraded Potbelly from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $7.58.

About Potbelly

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.

Further Reading: Blue-Chip Stocks

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Institutional Ownership by Quarter for Potbelly (NASDAQ:PBPB)

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