Alliancebernstein L.P. Sells 5,550 Shares of Portillo’s Inc. (NASDAQ:PTLO)

Alliancebernstein L.P. lessened its holdings in shares of Portillo’s Inc. (NASDAQ:PTLO) by 11.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,720 shares of the company’s stock after selling 5,550 shares during the quarter. Alliancebernstein L.P.’s holdings in Portillo’s were worth $420,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Hollencrest Capital Management lifted its position in Portillo’s by 100.0% during 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 last quarter. Ridgewood Investments LLC purchased a new stake in shares of Portillo’s during the 4th quarter valued at $47,000. KLP Kapitalforvaltning AS bought a new stake in shares of Portillo’s during the 4th quarter worth $90,000. Savant Capital LLC bought a new position in Portillo’s in the fourth quarter valued at $96,000. Finally, Sonora Investment Management Group LLC purchased a new stake in Portillo’s during the fourth quarter valued at about $98,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Portillo’s Price Performance

PTLO opened at $11.53 on Monday. The company’s 50-day simple moving average is $12.90 and its two-hundred day simple moving average is $12.06. Portillo’s Inc. has a 52-week low of $8.38 and a 52-week high of $15.78. The stock has a market capitalization of $860.17 million, a P/E ratio of 27.45, a P/E/G ratio of 14.77 and a beta of 1.82. 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 (NASDAQ:PTLO) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.15. The company had revenue of $184.61 million during the quarter, compared to analysts’ expectations of $185.16 million. Portillo’s had a return on equity of 5.62% and a net margin of 3.65%. Portillo’s’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.13 earnings per share. As a group, analysts predict that Portillo’s Inc. will post 0.35 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PTLO. Robert W. Baird reissued a “neutral” rating and set a $12.00 price objective (down from $15.00) on shares of Portillo’s in a report on Monday, April 7th. Stephens lifted their price target on shares of Portillo’s from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Stifel Nicolaus upped their price objective on shares of Portillo’s from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Morgan Stanley set a $12.00 target price on shares of Portillo’s in a report on Monday, April 14th. Finally, UBS Group cut their price target on shares of Portillo’s from $14.00 to $11.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $13.71.

About Portillo’s

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.