Potbelly Corporation $PBPB Shares Sold by Hodges Capital Management Inc.

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. cut its holdings in shares of Potbelly Corporation (NASDAQ:PBPB - Free Report) by 56.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 237,385 shares of the company's stock after selling 302,530 shares during the period. Hodges Capital Management Inc. owned approximately 0.79% of Potbelly worth $2,258,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PBPB. Price T Rowe Associates Inc. MD purchased a new position in Potbelly in the 4th quarter valued at about $98,000. Northern Trust Corp increased its holdings in Potbelly by 2.8% in the 4th quarter. Northern Trust Corp now owns 223,751 shares of the company's stock valued at $2,108,000 after purchasing an additional 6,013 shares during the last quarter. Bank of America Corp DE increased its holdings in Potbelly by 10.5% in the 4th quarter. Bank of America Corp DE now owns 25,491 shares of the company's stock valued at $240,000 after purchasing an additional 2,418 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Potbelly in the 4th quarter valued at approximately $471,000. Finally, Deutsche Bank AG increased its holdings in Potbelly by 35.8% in the 4th quarter. Deutsche Bank AG now owns 24,997 shares of the company's stock valued at $235,000 after purchasing an additional 6,594 shares during the last quarter. 72.60% of the stock is owned by hedge funds and other institutional investors.

Potbelly Price Performance

Shares of Potbelly stock traded up $0.01 during trading on Wednesday, hitting $17.01. 1,092,151 shares of the stock were exchanged, compared to its average volume of 426,829. Potbelly Corporation has a 12-month low of $7.27 and a 12-month high of $17.04. The stock has a market cap of $514.57 million, a price-to-earnings ratio of 48.59 and a beta of 1.50. The firm's 50-day moving average price is $12.95 and its 200 day moving average price is $11.02.

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

Analyst Ratings Changes

Several analysts recently weighed in on PBPB shares. Craig Hallum downgraded shares of Potbelly from a "strong-buy" rating to a "hold" rating and set a $17.12 target price for the company. in a report on Wednesday, September 10th. Lake Street Capital downgraded shares of Potbelly from a "buy" rating to a "hold" rating and boosted their price target for the stock from $15.00 to $17.12 in a research note on Thursday, September 11th. Finally, Benchmark downgraded shares of Potbelly from a "buy" rating to a "hold" rating and set a $18.00 price target for the company. in a research note on Friday, September 12th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $17.41.

About Potbelly

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.