LPL Financial LLC cut its stake in shares of Portillo’s Inc. (NASDAQ:PTLO – Free Report) by 1.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 65,060 shares of the company’s stock after selling 705 shares during the period. LPL Financial LLC owned 0.12% of Portillo’s worth $1,466,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Raymond James & Associates grew its position in Portillo’s by 41.0% during the first quarter. Raymond James & Associates now owns 45,306 shares of the company’s stock valued at $1,113,000 after acquiring an additional 13,170 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Portillo’s by 57.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 33,964 shares of the company’s stock worth $834,000 after purchasing an additional 12,455 shares during the period. Bank of New York Mellon Corp increased its position in Portillo’s by 5.2% during the 1st quarter. Bank of New York Mellon Corp now owns 70,644 shares of the company’s stock worth $1,735,000 after purchasing an additional 3,511 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Portillo’s by 25.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 37,552 shares of the company’s stock valued at $922,000 after buying an additional 7,601 shares during the period. Finally, MetLife Investment Management LLC lifted its position in Portillo’s by 55.4% during the first quarter. MetLife Investment Management LLC now owns 14,070 shares of the company’s stock valued at $346,000 after buying an additional 5,017 shares in the last quarter. 81.66% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on PTLO. Robert W. Baird dropped their price objective on shares of Portillo’s from $30.00 to $26.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. Piper Sandler cut their price objective on Portillo’s from $23.00 to $20.00 and set an “overweight” rating on the stock in a research report on Monday, November 6th. Jefferies Financial Group decreased their target price on Portillo’s from $30.00 to $25.00 in a research report on Tuesday, October 3rd. Stephens initiated coverage on Portillo’s in a research note on Friday, November 10th. They issued an “overweight” rating and a $20.00 target price for the company. Finally, Morgan Stanley upped their price target on Portillo’s from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Friday, November 3rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.00.
Portillo’s Trading Up 4.5 %
Shares of PTLO opened at $15.68 on Wednesday. Portillo’s Inc. has a one year low of $13.89 and a one year high of $24.41. The stock has a 50-day moving average price of $15.56 and a 200 day moving average price of $19.04. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.36 and a current ratio of 0.43. The company has a market capitalization of $869.30 million, a P/E ratio of 60.31, a P/E/G ratio of 6.36 and a beta of 2.05.
Portillo's Inc owns and operates fast casual and quick service restaurants in the United States. The company offers Chicago-style hot dogs and sausages, Italian beef sandwiches, burgers, chopped salads, crinkle-cut French fries, homemade chocolate cakes, and milkshakes. The company also offers its products through its website.
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