Rhumbline Advisers Grows Position in Portillo’s Inc. (NASDAQ:PTLO)

Rhumbline Advisers boosted its stake in shares of Portillo’s Inc. (NASDAQ:PTLO) by 24.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 75,392 shares of the company’s stock after acquiring an additional 14,948 shares during the period. Rhumbline Advisers owned 0.10% of Portillo’s worth $733,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PTLO. Assetmark Inc. increased its holdings in shares of Portillo’s by 28.6% in the fourth quarter. Assetmark Inc. now owns 3,222 shares of the company’s stock worth $51,000 after purchasing an additional 717 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Portillo’s by 241.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,812 shares of the company’s stock worth $54,000 after acquiring an additional 2,694 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Portillo’s by 283.0% during the 2nd quarter. Fifth Third Bancorp now owns 13,100 shares of the company’s stock worth $127,000 after acquiring an additional 9,680 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Portillo’s by 17.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,963 shares of the company’s stock valued at $184,000 after acquiring an additional 1,917 shares during the last quarter. Finally, Ascent Group LLC grew its holdings in shares of Portillo’s by 8.3% in the first quarter. Ascent Group LLC now owns 13,100 shares of the company’s stock valued at $186,000 after purchasing an additional 1,000 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PTLO shares. Stifel Nicolaus decreased their price target on shares of Portillo’s from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, July 12th. Stephens reaffirmed an “overweight” rating and issued a $13.00 price target on shares of Portillo’s in a report on Tuesday, August 6th. Piper Sandler reduced their price objective on Portillo’s from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. Bank of America lowered their price objective on Portillo’s from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Finally, Morgan Stanley cut their target price on Portillo’s from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.25.

Portillo’s Trading Down 2.2 %

Shares of NASDAQ PTLO opened at $12.98 on Wednesday. Portillo’s Inc. has a fifty-two week low of $8.66 and a fifty-two week high of $16.98. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.30 and a current ratio of 0.38. The company has a market cap of $947.22 million, a price-to-earnings ratio of 32.45, a PEG ratio of 16.05 and a beta of 1.77. The business’s 50 day moving average price is $11.40 and its 200-day moving average price is $11.31.

Portillo’s (NASDAQ:PTLO) last released its earnings results on Tuesday, August 6th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The business had revenue of $181.86 million during the quarter, compared to analysts’ expectations of $184.44 million. Portillo’s had a return on equity of 5.08% and a net margin of 3.30%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.12 EPS. On average, sell-side analysts expect that Portillo’s Inc. will post 0.28 earnings per share for the current year.

Portillo’s Profile

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.