Potbelly (PBPB)

• Market cap: $236M
• 1 day: -1.25%
• 5 days: -5.27%
• 1 month: -15.13%
• 3 months: -25.73%
• 6 months: -6.50%
• Year to date: -15.58%
• 1 year: -25.94%
• 5 years: 139.70%
• 10 years: -45.15%
• Sector: Consumer Discretionary
• Industry: Restaurants

About: Potbelly Corp owns and franchises hundreds of limited-service restaurants specializing in sandwiches and salads, shakes. The menu includes toasty sandwiches, signature salads, soups, chili, sides, desserts, and, in breakfast locations it serves breakfast sandwiches and steel-cut oatmeal. majority of its locations are company-owned and located in the United States, with Illinois and Texas housing far more locations than any other state. The company has franchise partners in a number of countries. Excluding the United States, its franchises are in the Middle East.

Employees: 5,000

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

21,300% more call options, than puts

Call options by funds: $428K | Put options by funds: $2K

67% more funds holding in top 10

Funds holding in top 10: 3 [Q3] → 5 (+2) [Q4]

31% more first-time investments, than exits

New positions opened: 17 | Existing positions closed: 13

19% more capital invested

Capital invested by funds: $176M [Q3] → $208M (+$32.6M) [Q4]

4% more funds holding

Funds holding: 109 [Q3] → 113 (+4) [Q4]

3.15% more ownership

Funds ownership: 70.66% [Q3] → 73.81% (+3.15%) [Q4]

6% more repeat investments, than reductions

Existing positions increased: 35 | Existing positions reduced: 33

Research analyst outlook

1 Wall Street Analyst provided 1 year price targets over the past 3 months

• Low target: $16 102% upside
• Avg. target: $16 102% upside
• High target: $16 102% upside

1 analyst rating

• positive: 1 100%
• neutral: 0 0%
• negative: 0 0%

Benchmark Todd Brooks 24% 1-year accuracy 11 / 45 met price target

102% upside $16

Buy Reiterated

7 Mar 2025