Raymond James Financial Inc. Invests $1.33 Million in Portillo’s Inc. (NASDAQ:PTLO)

Raymond James Financial Inc. acquired a new position in shares of Portillo’s Inc. (NASDAQ:PTLO) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 141,550 shares of the company’s stock, valued at approximately $1,331,000. Raymond James Financial Inc. owned 0.19% of Portillo’s as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Hodges Capital Management Inc. grew its holdings in Portillo’s by 80.5% during the 4th quarter. Hodges Capital Management Inc. now owns 1,652,937 shares of the company’s stock worth $15,537,000 after acquiring an additional 737,049 shares during the period. Chicago Partners Investment Group LLC acquired a new stake in Portillo’s during the fourth quarter worth approximately $2,590,000. Landscape Capital Management L.L.C. bought a new stake in Portillo’s in the fourth quarter worth approximately $2,623,000. First Eagle Investment Management LLC acquired a new position in Portillo’s in the fourth quarter valued at approximately $2,577,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of 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 in the last quarter. Institutional investors own 98.34% of the company’s stock.

Analysts Set New Price Targets

PTLO has been the subject of several research analyst reports. Robert W. Baird reiterated a “neutral” rating and issued a $12.00 price objective (down previously from $15.00) on shares of Portillo’s in a research note on Monday, April 7th. Morgan Stanley set a $12.00 price target on shares of Portillo’s in a research note on Monday, April 14th. Stifel Nicolaus increased their price objective on shares of Portillo’s from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. UBS Group decreased their target price on Portillo’s from $14.00 to $11.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, Baird R W lowered Portillo’s from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $13.71.

Portillo’s Stock Performance

Shares of Portillo’s stock opened at $10.45 on Friday. Portillo’s Inc. has a 52 week low of $8.38 and a 52 week high of $15.78. The company has a quick ratio of 0.31, a current ratio of 0.38 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average price of $12.08 and a 200-day moving average price of $11.93. The company has a market cap of $779.60 million, a PE ratio of 24.88, a price-to-earnings-growth ratio of 14.77 and a beta of 1.82.

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

Portillo’s Company 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.