Rhumbline Advisers Increases Stake in Portillo’s Inc. (NASDAQ:PTLO)

Rhumbline Advisers increased its holdings in Portillo’s Inc. (NASDAQ:PTLO) by 24.7% in the second quarter, Holdings Channel reports. The fund owned 75,392 shares of the company’s stock after purchasing an additional 14,948 shares during the quarter. Rhumbline Advisers’ holdings in Portillo’s were worth $733,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PTLO. Crossmark Global Holdings Inc. purchased a new stake in Portillo’s during the second quarter worth $236,000. Principal Financial Group Inc. lifted its stake in shares of Portillo’s by 2.5% during the 2nd quarter. Principal Financial Group Inc. now owns 1,612,114 shares of the company’s stock worth $15,670,000 after purchasing an additional 39,466 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Portillo’s by 28.2% during the second quarter. Bank of New York Mellon Corp now owns 211,870 shares of the company’s stock valued at $2,059,000 after purchasing an additional 46,650 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Portillo’s by 283.0% in the 2nd quarter. Fifth Third Bancorp now owns 13,100 shares of the company’s stock valued at $127,000 after buying an additional 9,680 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. grew its position in shares of Portillo’s by 7.4% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 22,592 shares of the company’s stock worth $220,000 after buying an additional 1,555 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Portillo’s Trading Down 2.2 %

Shares of Portillo’s stock opened at $12.98 on Wednesday. The firm has a 50-day simple moving average of $11.40 and a two-hundred day simple moving average of $11.31. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.30 and a current ratio of 0.38. Portillo’s Inc. has a fifty-two week low of $8.66 and a fifty-two week high of $16.98. The company has a market cap of $947.22 million, a P/E ratio of 32.45, a price-to-earnings-growth ratio of 16.05 and a beta of 1.77.

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