Legal & General Group Plc Trims Holdings in Portillo’s Inc. (NASDAQ:PTLO)

Legal & General Group Plc lessened its stake in Portillo’s Inc. (NASDAQ:PTLO) by 12.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 55,933 shares of the company’s stock after selling 7,650 shares during the period. Legal & General Group Plc owned about 0.08% of Portillo’s worth $526,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. First Dallas Securities Inc. lifted its stake in Portillo’s by 94.4% during the 4th quarter. First Dallas Securities Inc. now owns 43,250 shares of the company’s stock worth $407,000 after acquiring an additional 21,000 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Portillo’s by 229.0% in the fourth quarter. Fifth Third Bancorp now owns 43,100 shares of the company’s stock valued at $405,000 after purchasing an additional 30,000 shares during the period. Principal Financial Group Inc. increased its stake in Portillo’s by 10.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,788,113 shares of the company’s stock worth $24,086,000 after buying an additional 175,999 shares during the period. Raymond James Financial Inc. purchased a new position in Portillo’s in the 4th quarter valued at approximately $1,331,000. Finally, CenterStar Asset Management LLC grew its stake in shares of Portillo’s by 348.4% in the fourth quarter. CenterStar Asset Management LLC now owns 60,529 shares of the company’s stock worth $568,000 after acquiring an additional 47,029 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Portillo’s Stock Performance

PTLO opened at $10.41 on Wednesday. Portillo’s Inc. has a 1-year low of $8.38 and a 1-year high of $15.78. The stock has a market cap of $776.62 million, a P/E ratio of 24.79, a P/E/G ratio of 14.77 and a beta of 1.82. The stock’s 50 day simple moving average is $12.30 and its 200 day simple moving average is $11.98. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.38 and a quick ratio of 0.31.

Portillo’s (NASDAQ:PTLO) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.15. Portillo’s had a return on equity of 5.62% and a net margin of 3.65%. The business had revenue of $184.61 million during the quarter, compared to analysts’ expectations of $185.16 million. During the same quarter last year, the business posted $0.13 earnings per share. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, equities analysts anticipate that Portillo’s Inc. will post 0.35 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the company. Baird R W cut Portillo’s from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Robert W. Baird reaffirmed a “neutral” rating and set a $12.00 price objective (down previously from $15.00) on shares of Portillo’s in a report on Monday, April 7th. UBS Group reduced their price objective on Portillo’s from $14.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Stephens raised their price objective on shares of Portillo’s from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Finally, Stifel Nicolaus upped their target price on shares of Portillo’s from $16.00 to $17.00 and gave the company a “buy” rating in a report on Friday, February 28th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Portillo’s has an average rating of “Hold” and an average target price of $13.71.

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.