Potbelly Corp (NASDAQ:PBPB) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System lessened its stake in shares of Potbelly Corp (NASDAQ:PBPB) by 45.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,530 shares of the company’s stock after selling 26,517 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.13% of Potbelly worth $268,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wedge Capital Management L L P NC lifted its holdings in Potbelly by 57.1% in the 1st quarter. Wedge Capital Management L L P NC now owns 142,582 shares of the company’s stock valued at $1,213,000 after purchasing an additional 51,826 shares in the last quarter. Quantamental Technologies LLC purchased a new position in shares of Potbelly during the 1st quarter worth about $26,000. SG Americas Securities LLC purchased a new position in shares of Potbelly during the 1st quarter worth about $192,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Potbelly by 20,439.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,724 shares of the company’s stock worth $40,000 after acquiring an additional 4,701 shares during the period. Finally, Confluence Investment Management LLC lifted its holdings in shares of Potbelly by 23.8% during the 1st quarter. Confluence Investment Management LLC now owns 454,793 shares of the company’s stock worth $3,871,000 after acquiring an additional 87,478 shares during the period. Institutional investors and hedge funds own 72.40% of the company’s stock.

Shares of PBPB stock traded up $0.25 during trading hours on Friday, hitting $5.09. 1,030,500 shares of the company were exchanged, compared to its average volume of 252,890. The stock has a market cap of $118.76 million, a price-to-earnings ratio of 17.55 and a beta of 1.43. Potbelly Corp has a 1 year low of $4.38 and a 1 year high of $14.15. The company has a debt-to-equity ratio of 2.85, a quick ratio of 0.56 and a current ratio of 0.62. The business’s fifty day moving average price is $5.21.

Potbelly (NASDAQ:PBPB) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.08). Potbelly had a positive return on equity of 3.85% and a negative net margin of 6.01%. The company had revenue of $98.09 million for the quarter, compared to analysts’ expectations of $100.96 million. During the same quarter in the previous year, the company earned $0.03 earnings per share. The company’s revenue was down 4.7% on a year-over-year basis. As a group, equities research analysts predict that Potbelly Corp will post -0.03 earnings per share for the current year.

PBPB has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Potbelly from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Maxim Group reiterated a “buy” rating and set a $11.00 price objective on shares of Potbelly in a report on Wednesday, May 1st. Four investment analysts have rated the stock with a sell rating and one has issued a hold rating to the company’s stock. The stock has an average rating of “Sell” and an average price target of $8.92.

Potbelly Profile

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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Institutional Ownership by Quarter for Potbelly (NASDAQ:PBPB)

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