Potbelly Corp (PBPB) Position Cut by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP cut its stake in Potbelly Corp (NASDAQ:PBPB) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,427,482 shares of the company’s stock after selling 30,776 shares during the period. Dimensional Fund Advisors LP owned 5.75% of Potbelly worth $11,491,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of PBPB. Jane Street Group LLC acquired a new stake in Potbelly in the third quarter valued at $137,000. Equitec Specialists LLC raised its holdings in Potbelly by 18.2% in the fourth quarter. Equitec Specialists LLC now owns 23,343 shares of the company’s stock valued at $188,000 after acquiring an additional 3,590 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Potbelly in the third quarter valued at $213,000. Prudential Financial Inc. acquired a new stake in Potbelly in the third quarter valued at $213,000. Finally, Rhumbline Advisers raised its holdings in Potbelly by 49.7% in the fourth quarter. Rhumbline Advisers now owns 29,858 shares of the company’s stock valued at $240,000 after acquiring an additional 9,918 shares in the last quarter. 72.87% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on PBPB shares. Maxim Group reaffirmed a “buy” rating and issued a $12.00 price target on shares of Potbelly in a report on Monday, January 28th. Bank of America set a $9.00 target price on shares of Potbelly and gave the stock a “sell” rating in a report on Tuesday, February 26th. Zacks Investment Research raised shares of Potbelly from a “hold” rating to a “strong-buy” rating and set a $9.75 target price on the stock in a report on Friday, January 25th. Finally, ValuEngine cut shares of Potbelly from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $9.92.
Potbelly (NASDAQ:PBPB) last issued its earnings results on Monday, February 25th. The company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.03. The company had revenue of $102.37 million for the quarter, compared to analysts’ expectations of $103.65 million. Potbelly had a negative net margin of 2.10% and a positive return on equity of 6.81%. The firm’s revenue was down 8.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 earnings per share. Sell-side analysts anticipate that Potbelly Corp will post 0.27 EPS for the current fiscal year.
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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.
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