Wells Fargo & Company MN Has $121,000 Stake in Potbelly Co. (NASDAQ:PBPB)

Wells Fargo & Company MN lifted its position in shares of Potbelly Co. (NASDAQ:PBPB) by 50.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,883 shares of the company’s stock after purchasing an additional 4,328 shares during the quarter. Wells Fargo & Company MN’s holdings in Potbelly were worth $121,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in Potbelly by 122.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 67,053 shares of the company’s stock valued at $559,000 after buying an additional 36,930 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Potbelly in the 4th quarter valued at $520,000. Barclays PLC raised its position in Potbelly by 247.8% in the 3rd quarter. Barclays PLC now owns 39,780 shares of the company’s stock valued at $332,000 after buying an additional 28,342 shares during the last quarter. Hodges Capital Management Inc. raised its position in Potbelly by 42.1% in the 4th quarter. Hodges Capital Management Inc. now owns 539,915 shares of the company’s stock valued at $5,086,000 after buying an additional 159,900 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Potbelly in the 4th quarter valued at $121,000. 72.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PBPB shares. Benchmark restated a “buy” rating and issued a $16.00 price objective on shares of Potbelly in a research note on Friday, March 7th. William Blair restated a “market perform” rating on shares of Potbelly in a research note on Thursday, March 20th. Finally, StockNews.com upgraded Potbelly from a “hold” rating to a “buy” rating in a research note on Thursday.

Potbelly Price Performance

PBPB opened at $9.92 on Monday. The stock’s 50 day simple moving average is $9.00 and its 200 day simple moving average is $9.95. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.49 and a quick ratio of 0.43. Potbelly Co. has a 1 year low of $6.28 and a 1 year high of $13.48. The firm has a market cap of $299.31 million, a price-to-earnings ratio of 7.94 and a beta of 1.47.

Insider Activity at Potbelly

In related news, major shareholder David Nierenberg acquired 22,169 shares of the stock in a transaction on Friday, March 28th. The stock was acquired at an average price of $9.36 per share, for a total transaction of $207,501.84. Following the completion of the purchase, the insider now owns 124,167 shares of the company’s stock, valued at $1,162,203.12. This represents a 21.73% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.20% of the stock is currently owned by corporate insiders.

Potbelly Company 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.