Olstein Capital Management L.P. reduced its position in shares of Potbelly Corporation (NASDAQ:PBPB) by 34.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 243,540 shares of the company’s stock after selling 129,260 shares during the period. Olstein Capital Management L.P.’s holdings in Potbelly Corporation were worth $2,801,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Algert Global LLC raised its position in shares of Potbelly Corporation by 2.3% in the first quarter. Algert Global LLC now owns 174,600 shares of the company’s stock worth $2,427,000 after buying an additional 3,916 shares during the last quarter. First Trust Advisors LP purchased a new position in shares of Potbelly Corporation during the first quarter worth approximately $568,000. Wedge Capital Management L L P NC raised its position in shares of Potbelly Corporation by 91.8% in the first quarter. Wedge Capital Management L L P NC now owns 75,000 shares of the company’s stock worth $1,043,000 after buying an additional 35,900 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Potbelly Corporation by 12.2% in the first quarter. Wells Fargo & Company MN now owns 61,223 shares of the company’s stock worth $852,000 after buying an additional 6,653 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of Potbelly Corporation by 131.4% in the first quarter. Russell Investments Group Ltd. now owns 25,233 shares of the company’s stock worth $351,000 after buying an additional 14,329 shares during the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Potbelly Corporation (NASDAQ PBPB) opened at 11.25 on Wednesday. Potbelly Corporation has a 52-week low of $10.50 and a 52-week high of $14.55. The stock has a 50 day moving average price of $11.73 and a 200 day moving average price of $12.40. The company has a market capitalization of $282.66 million, a price-to-earnings ratio of 70.75 and a beta of 0.91.

Potbelly Corporation (NASDAQ:PBPB) last issued its quarterly earnings data on Friday, August 4th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.12 by $0.01. Potbelly Corporation had a return on equity of 8.68% and a net margin of 1.03%. The business had revenue of $108.10 million during the quarter, compared to the consensus estimate of $109.78 million. During the same period in the prior year, the firm earned $0.13 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts anticipate that Potbelly Corporation will post $0.32 EPS for the current fiscal year.

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A number of research analysts have commented on the company. Zacks Investment Research upgraded Potbelly Corporation from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Tuesday, April 25th. Maxim Group lowered Potbelly Corporation from a “buy” rating to a “hold” rating and decreased their price objective for the company from $16.00 to $13.00 in a research report on Wednesday, May 3rd. William Blair lowered Potbelly Corporation from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 3rd. BidaskClub lowered Potbelly Corporation from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, TheStreet lowered Potbelly Corporation from a “b-” rating to a “c” rating in a research report on Monday, June 19th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $13.50.

About Potbelly Corporation

Potbelly Corporation owns and operates Potbelly Sandwich Works sandwich shops in the United States. The Company has domestic and international franchise operations of Potbelly Sandwich Works sandwich shops. As of December 25, 2016, the Company operated Potbelly Sandwich Works sandwich shops in 29 states and the District of Columbia.

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Institutional Ownership by Quarter for Potbelly Corporation (NASDAQ:PBPB)

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