Northern Trust Corp Raises Stake in Portillo’s Inc. (NASDAQ:PTLO)

Northern Trust Corp grew its holdings in Portillo’s Inc. (NASDAQ:PTLO) by 6.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 502,461 shares of the company’s stock after acquiring an additional 32,623 shares during the quarter. Northern Trust Corp’s holdings in Portillo’s were worth $4,723,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Dallas Securities Inc. increased its position in Portillo’s by 94.4% in the 4th quarter. First Dallas Securities Inc. now owns 43,250 shares of the company’s stock valued at $407,000 after acquiring an additional 21,000 shares during the period. Fifth Third Bancorp grew its stake in shares of Portillo’s by 229.0% in the 4th quarter. Fifth Third Bancorp now owns 43,100 shares of the company’s stock valued at $405,000 after purchasing an additional 30,000 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Portillo’s in the 4th quarter valued at approximately $1,331,000. CenterStar Asset Management LLC increased its holdings in shares of Portillo’s by 348.4% in the fourth quarter. CenterStar Asset Management LLC now owns 60,529 shares of the company’s stock valued at $568,000 after purchasing an additional 47,029 shares during the period. Finally, First Eagle Investment Management LLC acquired a new position in shares of Portillo’s in the fourth quarter valued at approximately $2,577,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PTLO. Baird R W cut shares of Portillo’s from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Robert W. Baird reaffirmed a “neutral” rating and issued a $12.00 target price (down previously from $15.00) on shares of Portillo’s in a report on Monday, April 7th. Morgan Stanley set a $12.00 target price on shares of Portillo’s in a report on Monday, April 14th. UBS Group reduced their price objective on shares of Portillo’s from $15.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus boosted their target price on Portillo’s from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Portillo’s presently has an average rating of “Hold” and an average price target of $13.71.

Insider Transactions at Portillo’s

In other news, Director Berkshire Partners Llc sold 10,000,000 shares of Portillo’s stock in a transaction 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.57% of the company’s stock.

Portillo’s Stock Performance

NASDAQ:PTLO opened at $11.51 on Thursday. The company has a quick ratio of 0.31, a current ratio of 0.38 and a debt-to-equity ratio of 0.58. Portillo’s Inc. has a fifty-two week low of $8.38 and a fifty-two week high of $15.78. The firm’s fifty day simple moving average is $11.63 and its 200-day simple moving average is $11.85. The stock has a market cap of $858.68 million, a PE ratio of 27.40, a price-to-earnings-growth ratio of 14.77 and a beta of 1.83.

Portillo’s (NASDAQ:PTLO) last issued its earnings results on Tuesday, May 6th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $180.76 million. During the same period in the prior year, the business posted $0.08 earnings per share. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. Analysts expect 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.