Hodges Capital Management Inc. Has $2.26 Million Position in Potbelly Corporation $PBPB

Key Points

• Hodges Capital Management Inc. reduced its holdings in Potbelly Corporation by 56% in Q1, now owning approximately 0.79% of the company's stock valued at $2.26 million.
• Potbelly has received a mix of ratings from analysts, with one rating as a "Buy" and three as "Hold," and an average price target of $17.41.
• The company's latest quarterly earnings reported an EPS of $0.09, exceeding analysts' expectations, with a revenue of $123.71 million.

Hodges Capital Management Inc. lowered its holdings in Potbelly Corporation (NASDAQ:PBPB - Free Report) by 56.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 237,385 shares of the company's stock after selling 302,530 shares during the quarter. Hodges Capital Management Inc. owned about 0.79% of Potbelly worth $2,258,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. State of Wyoming boosted its stake in Potbelly by 14.3% in the fourth quarter. State of Wyoming now owns 7,012 shares of the company's stock worth $66,000 after purchasing an additional 876 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Potbelly by 2.6% in the first quarter. Bank of New York Mellon Corp now owns 66,000 shares of the company's stock worth $628,000 after purchasing an additional 1,662 shares in the last quarter. Rhumbline Advisers boosted its stake in Potbelly by 5.7% in the first quarter. Rhumbline Advisers now owns 38,872 shares of the company's stock worth $370,000 after purchasing an additional 2,108 shares in the last quarter. Boston Partners boosted its stake in Potbelly by 4.1% in the first quarter. Boston Partners now owns 54,966 shares of the company's stock worth $523,000 after purchasing an additional 2,153 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in Potbelly by 10.5% in the fourth quarter. Bank of America Corp DE now owns 25,491 shares of the company's stock worth $240,000 after purchasing an additional 2,418 shares in the last quarter. Institutional investors and hedge funds own 72.60% of the company's stock.

Analyst Upgrades and Downgrades

PBPB has been the topic of several research reports. Craig Hallum set a $17.12 price target on Potbelly and gave the company a "hold" rating in a research note on Wednesday. Benchmark upped their price target on Potbelly from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Lake Street Capital reaffirmed a "hold" rating and set a $17.12 price target (up previously from $15.00) on shares of Potbelly in a research note on Thursday. Finally, Wall Street Zen lowered Potbelly from a "buy" rating to a "hold" rating in a research note on Friday, May 16th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $17.41.

Potbelly Trading Up 0.2%

NASDAQ PBPB opened at $17.02 on Friday. The stock has a 50-day simple moving average of $12.69 and a 200 day simple moving average of $10.93. The company has a market capitalization of $515.04 million, a PE ratio of 48.63 and a beta of 1.50. Potbelly Corporation has a 12 month low of $7.27 and a 12 month high of $17.04.

Potbelly (NASDAQ:PBPB - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.01. The business had revenue of $123.71 million during the quarter, compared to the consensus estimate of $122.65 million. Potbelly had a return on equity of 16.31% and a net margin of 2.30%. As a group, sell-side analysts predict that Potbelly Corporation will post 0.24 earnings per share for the current fiscal year.

Potbelly Profile

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.

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