NBC Securities Inc. Grows Position in Portillo’s Inc. (NASDAQ:PTLO)

NBC Securities Inc. raised its position in shares of Portillo’s Inc. (NASDAQ:PTLO) by 43.5% during the 3rd quarter, Holdings Channel reports. The fund owned 3,300 shares of the company’s stock after purchasing an additional 1,000 shares during the period. NBC Securities Inc.’s holdings in Portillo’s were worth $44,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PTLO. Engaged Capital LLC increased its position in 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. Vanguard Group Inc. increased its holdings in shares of Portillo’s by 14.9% in the 1st quarter. Vanguard Group Inc. now owns 5,402,242 shares of the company’s stock worth $76,604,000 after buying an additional 700,583 shares during the last quarter. Squarepoint Ops LLC raised its position in shares of Portillo’s by 307.9% during the 2nd quarter. Squarepoint Ops LLC now owns 522,580 shares of the company’s stock valued at $5,079,000 after buying an additional 394,479 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Portillo’s by 499.4% in the 2nd quarter. Millennium Management LLC now owns 392,167 shares of the company’s stock valued at $3,812,000 after acquiring an additional 326,743 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Portillo’s by 22.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,572,648 shares of the company’s stock valued at $22,300,000 after acquiring an additional 286,618 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PTLO has been the topic of a number of recent research reports. Bank of America decreased their price objective 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. Stifel Nicolaus decreased their price target on Portillo’s from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, July 12th. Stephens lowered shares of Portillo’s from an “overweight” rating to an “equal weight” rating and set a $13.00 price objective for the company. in a research note on Monday, October 7th. Finally, Morgan Stanley cut their price objective on shares of 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. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $13.86.

Portillo’s Stock Performance

Shares of Portillo’s stock opened at $12.38 on Monday. Portillo’s Inc. has a 52 week low of $8.66 and a 52 week high of $16.98. The company has a market capitalization of $903.43 million, a PE ratio of 30.95, a price-to-earnings-growth ratio of 15.48 and a beta of 1.78. The stock’s fifty day moving average is $12.44 and its two-hundred day moving average is $11.22. The company has a quick ratio of 0.30, a current ratio of 0.38 and a debt-to-equity ratio of 0.60.

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