Principal Financial Group Inc. Decreases Stock Position in Portillo’s Inc. (NASDAQ:PTLO)

Principal Financial Group Inc. decreased its position in Portillo’s Inc. (NASDAQ:PTLO – Get Rating) by 3.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,235,119 shares of the company’s stock after selling 42,796 shares during the quarter. Principal Financial Group Inc.’s holdings in Portillo’s were worth $20,157,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Portillo’s by 41.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,583,288 shares of the company’s stock valued at $50,866,000 after purchasing an additional 752,280 shares during the last quarter. BlackRock Inc. raised its stake in Portillo’s by 21.6% in the 3rd quarter. BlackRock Inc. now owns 1,516,245 shares of the company’s stock valued at $29,854,000 after purchasing an additional 269,526 shares during the last quarter. Emerald Advisers LLC raised its stake in Portillo’s by 15.6% in the 4th quarter. Emerald Advisers LLC now owns 856,424 shares of the company’s stock valued at $13,977,000 after purchasing an additional 115,300 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its stake in Portillo’s by 7.6% in the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 679,434 shares of the company’s stock valued at $11,088,000 after purchasing an additional 48,282 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in Portillo’s in the 2nd quarter valued at about $10,081,000. Institutional investors and hedge funds own 72.88% of the company’s stock.

Insider Transactions at Portillo’s

In other news, VP George Richard Cook III sold 18,662 shares of the firm’s stock in a transaction that occurred on Friday, March 10th. The shares were sold at an average price of $18.95, for a total transaction of $353,644.90. Following the completion of the sale, the vice president now owns 9,907 shares of the company’s stock, valued at $187,737.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 7.19% of the company’s stock.

Portillo’s Stock Down 1.6 %

NASDAQ PTLO opened at $20.96 on Monday. The stock has a market cap of $1.15 billion, a PE ratio of 87.34, a P/E/G ratio of 6.63 and a beta of 2.01. Portillo’s Inc. has a fifty-two week low of $14.84 and a fifty-two week high of $28.93. The business has a 50 day moving average price of $20.73 and a two-hundred day moving average price of $20.53. The company has a quick ratio of 0.37, a current ratio of 0.43 and a debt-to-equity ratio of 0.68.

Portillo’s (NASDAQ:PTLO – Get Rating) last released its quarterly earnings results on Thursday, March 2nd. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. The firm had revenue of $150.88 million during the quarter, compared to analysts’ expectations of $155.34 million. Portillo’s had a return on equity of 2.95% and a net margin of 1.67%. Portillo’s’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.52) EPS. As a group, sell-side analysts predict that Portillo’s Inc. will post 0.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PTLO shares. Stifel Nicolaus upped their price objective on shares of Portillo’s from $24.00 to $25.00 in a research note on Friday, May 5th. Morgan Stanley increased their target price on shares of Portillo’s from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, March 3rd. Finally, Guggenheim raised shares of Portillo’s from a “neutral” rating to a “buy” rating and increased their target price for the stock from $22.00 to $25.00 in a research report on Friday, May 5th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.00.

Portillo’s Profile

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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. As of June 26, 2022, it owned and operated 71 Portillo's restaurants across nine states.