Portillo’s Inc. $PTLO Shares Sold by Berkshire Partners LLC

Berkshire Partners LLC decreased its holdings in shares of Portillo’s Inc. (NASDAQ:PTLO) by 72.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,045,630 shares of the company’s stock after selling 2,709,535 shares during the period. Portillo’s comprises approximately 100.0% of Berkshire Partners LLC’s investment portfolio, making the stock its largest holding. Berkshire Partners LLC owned approximately 1.40% of Portillo’s worth $12,203,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PTLO. Orbis Allan Gray Ltd raised its position in Portillo’s by 4.1% during the first quarter. Orbis Allan Gray Ltd now owns 5,973,638 shares of the company’s stock worth $71,027,000 after acquiring an additional 234,475 shares during the period. Alliancebernstein L.P. increased its stake in shares of Portillo’s by 10,963.2% during the first quarter. Alliancebernstein L.P. now owns 4,947,461 shares of the company’s stock worth $58,825,000 after purchasing an additional 4,902,741 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Portillo’s by 53.6% during the first quarter. Ameriprise Financial Inc. now owns 3,413,669 shares of the company’s stock worth $40,590,000 after purchasing an additional 1,191,443 shares in the last quarter. Blair William & Co. IL raised its position in shares of Portillo’s by 0.9% during the 2nd quarter. Blair William & Co. IL now owns 1,627,315 shares of the company’s stock worth $18,991,000 after purchasing an additional 14,303 shares during the last quarter. Finally, Fred Alger Management LLC purchased a new position in Portillo’s in the 1st quarter valued at about $17,489,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Portillo’s Price Performance

PTLO stock opened at $4.84 on Monday. Portillo’s Inc. has a 1 year low of $4.58 and a 1 year high of $15.78. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.27 and a quick ratio of 0.22. The firm has a market capitalization of $364.84 million, a PE ratio of 13.44, a price-to-earnings-growth ratio of 5.25 and a beta of 1.73. The business has a 50 day simple moving average of $5.45 and a 200-day simple moving average of $8.07.

Portillo’s (NASDAQ:PTLO) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The company had revenue of $181.43 million for the quarter, compared to analysts’ expectations of $179.77 million. Portillo’s had a return on equity of 4.99% and a net margin of 3.35%. Equities research analysts anticipate that Portillo’s Inc. will post 0.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PTLO has been the subject of several research reports. Bank of America reiterated a “neutral” rating and set a $7.00 price objective (down from $14.00) on shares of Portillo’s in a research note on Monday, October 6th. UBS Group lowered their price target on Portillo’s from $7.50 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Portillo’s in a research report on Thursday. Jefferies Financial Group restated a “hold” rating and issued a $6.00 price objective (down previously from $10.00) on shares of Portillo’s in a report on Monday, October 13th. Finally, Stephens lowered their target price on shares of Portillo’s from $8.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 5th. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $9.78.

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.