Highland Private Wealth Management Lowers stake in Potbelly Corp (PBPB)

Potbelly Corp (PBPB) : Highland Private Wealth Management reduced its stake in Potbelly Corp by 25.04% during the most recent quarter end. The investment management company now holds a total of 29,339 shares of Potbelly Corp which is valued at $378,473 after selling 9,800 shares in Potbelly Corp , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Potbelly Corp makes up approximately 0.20% of Highland Private Wealth Management’s portfolio.

Other Hedge Funds, Including , Algert Global added PBPB to its portfolio by purchasing 10,400 company shares during the most recent quarter which is valued at $134,160. Potbelly Corp makes up approx 0.05% of Algert Global’s portfolio.Vanguard Group Inc boosted its stake in PBPB in the latest quarter, The investment management firm added 140,269 additional shares and now holds a total of 1,723,583 shares of Potbelly Corp which is valued at $22,234,221.California State Teachers Retirement System boosted its stake in PBPB in the latest quarter, The investment management firm added 9,265 additional shares and now holds a total of 49,965 shares of Potbelly Corp which is valued at $639,552.Rice Hall James Associates reduced its stake in PBPB by selling 4,235 shares or 2.35% in the most recent quarter. The Hedge Fund company now holds 176,206 shares of PBPB which is valued at $2,285,392. Potbelly Corp makes up approx 0.13% of Rice Hall James Associates’s portfolio.Marcus Capital reduced its stake in PBPB by selling 800 shares or 0.86% in the most recent quarter. The Hedge Fund company now holds 92,750 shares of PBPB which is valued at $1,236,358. Potbelly Corp makes up approx 1.24% of Marcus Capital’s portfolio.

Potbelly Corp opened for trading at $13.17 and hit $13.47 on the upside on Monday, eventually ending the session at $13.23, with a gain of 0.30% or 0.04 points. The heightened volatility saw the trading volume jump to 1,07,742 shares. Company has a market cap of $333 M.

On the company’s financial health, Potbelly Corp reported $0.13 EPS for the quarter, based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus estimate of $0.13. The company had revenue of $105.00 million for the quarter, compared to analysts expectations of $105.67 million. The company’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.

Many Wall Street Analysts have commented on Potbelly Corp. Shares were Downgraded by Robert W. Baird on Aug 1, 2016 to ” Neutral” and Lowered the Price Target to $ 13 from a previous price target of $16 .

Potbelly Corporation is a neighborhood sandwich concept offering sandwiches salads and other menu items. The Company owns and operates Potbelly Sandwich Works sandwich shops in the United States. The Company also has domestic and international franchise operations of Potbelly Sandwich Works sandwich shops. The Company has a domestic base of around 351 shops in 26 states of the United States and the District of Columbia consisting of approximately 334 Company-operated shops and around 17 franchisee-operated shops. The Company also has around 12 franchised shops in the Middle East. The Company’s menu includes sandwiches salads soups chili sides desserts and in its breakfast locations breakfast sandwiches and steel cut oatmeal. The Company also offers hand-dipped shakes and smoothies. The Company’s cookie offerings include Oatmeal Chocolate Chip Sugar and Chocolate Brownie cookies.

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