Portillo’s Inc. (NASDAQ:PTLO) Shares Purchased by Northern Trust Corp

Northern Trust Corp boosted its position in shares of Portillo’s Inc. (NASDAQ:PTLO) by 6.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 502,461 shares of the company’s stock after acquiring an additional 32,623 shares during the quarter. Northern Trust Corp owned 0.68% of Portillo’s worth $4,723,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Hollencrest Capital Management boosted its stake in shares of Portillo’s by 100.0% in the fourth quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock valued at $38,000 after purchasing an additional 2,000 shares during the period. Headlands Technologies LLC acquired a new position in shares of Portillo’s in the fourth quarter worth $83,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Portillo’s during the fourth quarter worth $90,000. Savant Capital LLC purchased a new stake in shares of Portillo’s during the fourth quarter worth $96,000. Finally, Sonora Investment Management Group LLC acquired a new stake in shares of Portillo’s in the fourth quarter valued at $98,000. 98.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PTLO has been the subject of several analyst reports. Piper Sandler lowered their target price on Portillo’s from $17.00 to $13.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. 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 target price on shares of Portillo’s in a research note on Monday, April 14th. Baird R W downgraded shares of Portillo’s from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Finally, Stephens reiterated an “equal weight” rating and set a $13.00 price target on shares of Portillo’s in a report on Wednesday, May 7th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Portillo’s presently has a consensus rating of “Hold” and a consensus target price of $13.71.

Insider Activity at Portillo’s

In other Portillo’s news, Director Berkshire Partners Llc sold 10,000,000 shares of Portillo’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $12.23, for a total transaction of $122,300,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 6.57% of the company’s stock.

Portillo’s Trading Down 4.5%

PTLO opened at $11.51 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.31 and a current ratio of 0.38. Portillo’s Inc. has a one year low of $8.38 and a one year high of $15.78. The company has a market cap of $858.68 million, a P/E ratio of 27.40, a PEG ratio of 14.77 and a beta of 1.83. The business’s 50-day simple moving average is $11.63 and its 200-day simple moving average is $11.85.

Portillo’s (NASDAQ:PTLO) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. Portillo’s had a net margin of 3.65% and a return on equity of 5.62%. The company had revenue of $176.44 million for the quarter, compared to analysts’ expectations of $180.76 million. During the same quarter last year, the company earned $0.08 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, equities research analysts expect that Portillo’s Inc. will post 0.35 EPS 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.