Quest Partners LLC Sells 13,791 Shares of Portillo’s Inc. (NASDAQ:PTLO)

Quest Partners LLC reduced its position in Portillo’s Inc. (NASDAQ:PTLO) by 50.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,747 shares of the company’s stock after selling 13,791 shares during the quarter. Quest Partners LLC’s holdings in Portillo’s were worth $134,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Emerald Advisers LLC raised its holdings in shares of Portillo’s by 4.4% in the 2nd quarter. Emerald Advisers LLC now owns 983,539 shares of the company’s stock valued at $9,560,000 after purchasing an additional 41,078 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its holdings in Portillo’s by 2.6% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 804,644 shares of the company’s stock valued at $7,821,000 after buying an additional 20,195 shares during the period. Arizona State Retirement System raised its stake in Portillo’s by 24.9% in the second quarter. Arizona State Retirement System now owns 16,354 shares of the company’s stock worth $159,000 after buying an additional 3,261 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Portillo’s by 218.1% during the second quarter. Victory Capital Management Inc. now owns 63,591 shares of the company’s stock worth $618,000 after buying an additional 43,602 shares during the period. Finally, Rhumbline Advisers boosted its position in Portillo’s by 24.7% during the 2nd quarter. Rhumbline Advisers now owns 75,392 shares of the company’s stock valued at $733,000 after acquiring an additional 14,948 shares in the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on PTLO. Morgan Stanley reduced their price target on Portillo’s from $15.00 to $13.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Stephens restated an “overweight” rating and issued a $13.00 price target on shares of Portillo’s in a report on Tuesday, August 6th. Stifel Nicolaus reduced their price objective on shares of Portillo’s from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, July 12th. Piper Sandler lowered their target price on shares of Portillo’s from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. Finally, Bank of America reduced their price target on Portillo’s from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.25.

Portillo’s Trading Down 0.9 %

NASDAQ PTLO opened at $12.71 on Tuesday. Portillo’s Inc. has a 12-month low of $8.66 and a 12-month high of $16.98. The company has a fifty day simple moving average of $10.93 and a two-hundred day simple moving average of $11.34. The company has a current ratio of 0.38, a quick ratio of 0.30 and a debt-to-equity ratio of 0.60. The stock has a market cap of $927.45 million, a P/E ratio of 31.78, a P/E/G ratio of 15.63 and a beta of 1.77.

Portillo’s (NASDAQ:PTLO) last released its earnings results on Tuesday, August 6th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01). Portillo’s had a net margin of 3.30% and a return on equity of 5.08%. The firm had revenue of $181.86 million during the quarter, compared to analyst estimates of $184.44 million. During the same period in the previous year, the company earned $0.12 earnings per share. Portillo’s’s revenue was up 7.5% on a year-over-year basis. On average, analysts forecast that Portillo’s Inc. will post 0.28 earnings per share for the current year.

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.