Nuveen LLC Buys New Stake in Potbelly Corporation $PBPB

Key Points

• Nuveen LLC has acquired over 303,000 shares of Potbelly Corporation, valued at approximately $2.88 million, representing a 1% ownership stake in the company.
• Wall Street analysts have mixed views on Potbelly; while Benchmark raised the target price to $18 with a "buy" rating, Wall Street Zen downgraded it to a "hold" rating.
• Potbelly reported a quarterly earnings of $0.09 per share, exceeding expectations, with revenues of $123.71 million compared to analyst estimates of $122.65 million.

Nuveen LLC purchased a new position in Potbelly Corporation (NASDAQ:PBPB - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 303,058 shares of the company's stock, valued at approximately $2,882,000. Nuveen LLC owned 1.00% of Potbelly at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Aquatic Capital Management LLC purchased a new position in Potbelly in the 4th quarter worth about $27,000. State of Wyoming increased its stake in Potbelly by 14.3% in the 4th quarter. State of Wyoming now owns 7,012 shares of the company's stock worth $66,000 after buying an additional 876 shares during the period. Price T Rowe Associates Inc. MD purchased a new position in Potbelly in the 4th quarter worth about $98,000. Wells Fargo & Company MN increased its stake in Potbelly by 50.6% in the 4th quarter. Wells Fargo & Company MN now owns 12,883 shares of the company's stock worth $121,000 after buying an additional 4,328 shares during the period. Finally, Divisadero Street Capital Management LP purchased a new position in Potbelly during the 4th quarter valued at about $160,000. Hedge funds and other institutional investors own 72.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Benchmark raised their target price on shares of Potbelly from $17.00 to $18.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Wall Street Zen downgraded shares of Potbelly from a "buy" rating to a "hold" rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Potbelly has an average rating of "Moderate Buy" and a consensus target price of $18.00.

Potbelly Stock Down 0.6%

Shares of Potbelly stock traded down $0.08 on Friday, reaching $12.94. The stock had a trading volume of 139,003 shares, compared to its average volume of 262,405. The company has a 50 day moving average price of $12.42 and a 200 day moving average price of $10.85. Potbelly Corporation has a 1 year low of $7.27 and a 1 year high of $13.67. The stock has a market capitalization of $391.56 million, a P/E ratio of 36.97 and a beta of 1.55.

Potbelly (NASDAQ:PBPB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $122.65 million. On average, analysts forecast 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.