Geode Capital Management LLC Raises Holdings in Portillo’s Inc. (NASDAQ:PTLO)

Geode Capital Management LLC lifted its position in shares of Portillo’s Inc. (NASDAQ:PTLO) by 4.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,270,142 shares of the company’s stock after purchasing an additional 49,181 shares during the period. Geode Capital Management LLC owned about 1.74% of Portillo’s worth $17,113,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PTLO. Point72 DIFC Ltd acquired a new position in Portillo’s during the second quarter worth approximately $29,000. NBC Securities Inc. grew its position in shares of Portillo’s by 43.5% during the third quarter. NBC Securities Inc. now owns 3,300 shares of the company’s stock worth $44,000 after acquiring an additional 1,000 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Portillo’s in the 3rd quarter valued at $69,000. AdvisorShares Investments LLC purchased a new stake in Portillo’s in the 2nd quarter valued at $52,000. Finally, Intech Investment Management LLC acquired a new stake in Portillo’s during the 3rd quarter worth $181,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PTLO has been the topic of a number of recent research reports. Stephens restated an “equal weight” rating and issued a $13.00 price objective on shares of Portillo’s in a research note on Wednesday, November 6th. Stifel Nicolaus cut Portillo’s from a “buy” rating to a “hold” rating and set a $13.00 price objective for the company. in a research report on Wednesday, November 6th. Finally, UBS Group boosted their target price on Portillo’s from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $14.00.

Portillo’s Stock Down 0.3 %

PTLO stock opened at $8.98 on Monday. The company has a current ratio of 0.38, a quick ratio of 0.31 and a debt-to-equity ratio of 0.58. The company’s 50-day moving average price is $11.16 and its 200 day moving average price is $11.20. Portillo’s Inc. has a 52 week low of $8.38 and a 52 week high of $16.45. The company has a market cap of $666.51 million, a P/E ratio of 21.38, a P/E/G ratio of 10.96 and a beta of 1.68.

Portillo’s (NASDAQ:PTLO) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. Portillo’s had a return on equity of 5.62% and a net margin of 3.65%. The business had revenue of $178.25 million for the quarter, compared to analyst estimates of $182.07 million. During the same quarter in the previous year, the company earned $0.07 EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis. On average, research analysts expect that Portillo’s Inc. will post 0.3 earnings per share for the current fiscal year.

About Portillo’s

Portillo’s Inc owns and operates fast casual restaurants in the United States. The company offers Chicago-style hot dogs and sausages, Italian beef sandwiches, char-grilled burgers, chopped salads, crinkle-cut French fries, homemade chocolate cakes, and chocolate cake shake. It offers its products through its website, application, and certain third-party platforms.