Olstein Capital Management L.P. Purchases 3,630 Shares of Potbelly Corp. (PBPB)
Olstein Capital Management L.P. increased its position in Potbelly Corp. (NASDAQ:PBPB) by 1.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 374,100 shares of the company’s stock after buying an additional 3,630 shares during the period. Olstein Capital Management L.P.’s holdings in Potbelly Corp. were worth $4,650,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of PBPB. First National Bank of Omaha purchased a new position in shares of Potbelly Corp. during the second quarter worth approximately $481,000. Oxford Asset Management raised its position in shares of Potbelly Corp. by 81.2% in the second quarter. Oxford Asset Management now owns 176,649 shares of the company’s stock worth $2,215,000 after buying an additional 79,167 shares during the last quarter. Confluence Investment Management LLC raised its position in shares of Potbelly Corp. by 3.7% in the second quarter. Confluence Investment Management LLC now owns 170,826 shares of the company’s stock worth $2,142,000 after buying an additional 6,143 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Potbelly Corp. by 22.8% in the second quarter. California State Teachers Retirement System now owns 49,965 shares of the company’s stock worth $627,000 after buying an additional 9,265 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Potbelly Corp. by 1,250.9% in the second quarter. JPMorgan Chase & Co. now owns 78,894 shares of the company’s stock worth $989,000 after buying an additional 73,054 shares during the last quarter. Institutional investors and hedge funds own 71.13% of the company’s stock.
Potbelly Corp. (NASDAQ:PBPB) traded up 0.73% during midday trading on Tuesday, hitting $13.75. The stock had a trading volume of 230,230 shares. The company has a market cap of $346.35 million, a PE ratio of 47.74 and a beta of 0.94. Potbelly Corp. has a 12-month low of $9.82 and a 12-month high of $14.99. The firm has a 50-day moving average of $13.10 and a 200-day moving average of $12.95.
Potbelly Corp. (NASDAQ:PBPB) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.02. Potbelly Corp. had a return on equity of 8.23% and a net margin of 1.87%. The firm earned $103.80 million during the quarter, compared to analyst estimates of $104.38 million. During the same quarter in the previous year, the business earned $0.08 EPS. Potbelly Corp.’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities research analysts forecast that Potbelly Corp. will post $0.38 EPS for the current year.
A number of equities analysts recently commented on PBPB shares. Robert W. Baird lowered Potbelly Corp. from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $16.00 to $13.00 in a research note on Monday, August 1st. Maxim Group raised Potbelly Corp. from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Monday, November 7th. Finally, Zacks Investment Research raised Potbelly Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, August 10th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $14.30.
In related news, SVP Matthew J. Revord sold 10,000 shares of Potbelly Corp. stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $12.43, for a total value of $124,300.00. Following the completion of the transaction, the senior vice president now owns 10,000 shares in the company, valued at approximately $124,300. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Matthew J. Revord sold 20,000 shares of Potbelly Corp. stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $12.42, for a total value of $248,400.00. Following the completion of the transaction, the senior vice president now owns 20,000 shares of the company’s stock, valued at approximately $248,400. The disclosure for this sale can be found here. 9.30% of the stock is owned by corporate insiders.
Potbelly Corp. Company Profile
Potbelly Corporation is a neighborhood sandwich concept offering sandwiches, salads and other menu items. The Company owns and operates Potbelly Sandwich Works sandwich shops in the United States. The Company also has domestic and international franchise operations of Potbelly Sandwich Works sandwich shops.
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