Principal Financial Group Inc. Has $24.09 Million Stock Holdings in Portillo’s Inc. (NASDAQ:PTLO)

Principal Financial Group Inc. lifted its holdings in shares of Portillo’s Inc. (NASDAQ:PTLO) by 10.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,788,113 shares of the company’s stock after acquiring an additional 175,999 shares during the period. Principal Financial Group Inc. owned approximately 2.45% of Portillo’s worth $24,086,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. California State Teachers Retirement System increased its position in shares of 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 purchasing an additional 5,120 shares in the last quarter. Engaged Capital LLC grew its stake in Portillo’s by 38.7% during the second quarter. Engaged Capital LLC now owns 2,760,443 shares of the company’s stock worth $26,832,000 after buying an additional 770,443 shares during the last quarter. Swiss National Bank increased its holdings in shares of Portillo’s by 17.4% during the first quarter. Swiss National Bank now owns 108,400 shares of the company’s stock worth $1,537,000 after buying an additional 16,100 shares in the last quarter. Rice Hall James & Associates LLC raised its stake in shares of Portillo’s by 51.2% in the third quarter. Rice Hall James & Associates LLC now owns 207,945 shares of the company’s stock valued at $2,801,000 after acquiring an additional 70,409 shares during the last quarter. Finally, Entropy Technologies LP acquired a new position in shares of Portillo’s in the 1st quarter worth approximately $188,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Portillo’s Stock Performance

Shares of NASDAQ:PTLO opened at $12.08 on Thursday. The company has a current ratio of 0.38, a quick ratio of 0.31 and a debt-to-equity ratio of 0.58. Portillo’s Inc. has a 1-year low of $8.66 and a 1-year high of $16.92. The stock has a market capitalization of $881.48 million, a P/E ratio of 28.76, a P/E/G ratio of 14.38 and a beta of 1.78. The business has a 50-day moving average price of $12.76 and a two-hundred day moving average price of $11.26.

Portillo’s (NASDAQ:PTLO) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. The firm had revenue of $178.25 million for the quarter, compared to analysts’ expectations of $182.07 million. Portillo’s had a net margin of 3.65% and a return on equity of 5.62%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $0.07 earnings per share. Equities analysts predict that Portillo’s Inc. will post 0.29 earnings per share for the current year.

Analyst Ratings Changes

PTLO has been the subject of a number of recent analyst reports. Bank of America cut 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 reissued an “equal weight” rating and set a $13.00 price objective on shares of Portillo’s in a report on Wednesday, November 6th. UBS Group raised their price objective on shares of Portillo’s from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Finally, Stifel Nicolaus lowered shares of Portillo’s from a “buy” rating to a “hold” rating and set a $13.00 target price on the stock. in a research report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Portillo’s presently has a consensus rating of “Hold” and an average price target of $14.00.

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.