Point72 DIFC Ltd Invests $29,000 in Portillo’s Inc. (NASDAQ:PTLO)

Point72 DIFC Ltd acquired a new stake in shares of Portillo’s Inc. (NASDAQ:PTLO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,018 shares of the company’s stock, valued at approximately $29,000.

Several other hedge funds have also recently modified their holdings of PTLO. California State Teachers Retirement System lifted its position in Portillo’s by 10.4% during the 1st quarter. California State Teachers Retirement System now owns 54,329 shares of the company’s stock worth $770,000 after acquiring an additional 5,120 shares during the period. Engaged Capital LLC raised its stake in shares of Portillo’s by 38.7% in the second quarter. Engaged Capital LLC now owns 2,760,443 shares of the company’s stock worth $26,832,000 after purchasing an additional 770,443 shares during the last quarter. Granahan Investment Management LLC lifted its holdings in shares of Portillo’s by 33.8% during the fourth quarter. Granahan Investment Management LLC now owns 1,324,465 shares of the company’s stock worth $21,099,000 after purchasing an additional 334,731 shares during the period. Swiss National Bank boosted its position in Portillo’s by 17.4% in the first quarter. Swiss National Bank now owns 108,400 shares of the company’s stock valued at $1,537,000 after buying an additional 16,100 shares during the last quarter. Finally, Entropy Technologies LP purchased a new stake in Portillo’s in the first quarter valued at approximately $188,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Portillo’s Stock Performance

NASDAQ PTLO opened at $12.65 on Friday. The stock has a market capitalization of $923.13 million, a price-to-earnings ratio of 31.63, a PEG ratio of 16.66 and a beta of 1.78. The company has a current ratio of 0.38, a quick ratio of 0.30 and a debt-to-equity ratio of 0.60. Portillo’s Inc. has a twelve month low of $8.66 and a twelve month high of $16.98. The stock has a 50-day moving average of $11.87 and a 200 day moving average of $11.33.

Portillo’s (NASDAQ:PTLO) last posted its quarterly 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). The firm had revenue of $181.86 million for the quarter, compared to analysts’ expectations of $184.44 million. Portillo’s had a return on equity of 5.08% and a net margin of 3.30%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.12 earnings per share. Sell-side analysts anticipate that Portillo’s Inc. will post 0.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PTLO shares. Stifel Nicolaus dropped their price objective on shares of Portillo’s from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, July 12th. Morgan Stanley lowered their price target on shares of Portillo’s from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Piper Sandler reduced their price objective on Portillo’s from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. Bank of America lowered their target price on Portillo’s from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Finally, Stephens reaffirmed an “overweight” rating and set a $13.00 target price on shares of Portillo’s in a report on Tuesday, August 6th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.86.

Portillo’s 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.