Principal Financial Group Inc. Grows Stock Holdings in Portillo’s Inc. (NASDAQ:PTLO)

Principal Financial Group Inc. grew its position in Portillo’s Inc. (NASDAQ:PTLO) by 10.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,788,113 shares of the company’s stock after buying an additional 175,999 shares during the quarter. Principal Financial Group Inc. owned 2.41% of Portillo’s worth $24,086,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PTLO. Engaged Capital LLC boosted its position in Portillo’s by 121.5% in the 3rd quarter. Engaged Capital LLC now owns 6,114,956 shares of the company’s stock valued at $82,368,000 after buying an additional 3,354,513 shares during the period. Franklin Resources Inc. raised its stake in shares of Portillo’s by 2.6% in the third quarter. Franklin Resources Inc. now owns 1,291,846 shares of the company’s stock valued at $15,838,000 after acquiring an additional 32,810 shares in the last quarter. Emerald Advisers LLC boosted its holdings in Portillo’s by 29.4% in the third quarter. Emerald Advisers LLC now owns 1,272,214 shares of the company’s stock valued at $17,137,000 after purchasing an additional 288,675 shares during the period. Geode Capital Management LLC grew its stake in Portillo’s by 4.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,270,142 shares of the company’s stock worth $17,113,000 after purchasing an additional 49,181 shares in the last quarter. Finally, State Street Corp increased its holdings in Portillo’s by 1.6% during the 3rd quarter. State Street Corp now owns 1,085,786 shares of the company’s stock worth $14,626,000 after purchasing an additional 17,306 shares during the period. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Portillo’s Stock Up 2.7 %

PTLO stock opened at $9.04 on Thursday. The stock has a market cap of $670.97 million, a P/E ratio of 21.52, a PEG ratio of 10.96 and a beta of 1.68. 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 twelve month low of $8.38 and a twelve month high of $16.85. The company’s 50 day moving average is $11.37 and its two-hundred day moving average is $11.22.

Portillo’s (NASDAQ:PTLO) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. Portillo’s had a net margin of 3.65% and a return on equity of 5.62%. The firm had revenue of $178.25 million for the quarter, compared to analyst estimates of $182.07 million. During the same period last year, the business earned $0.07 EPS. Portillo’s’s revenue for the quarter was up 6.9% compared to the same quarter last year. Research analysts expect that Portillo’s Inc. will post 0.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PTLO. Stifel Nicolaus downgraded Portillo’s from a “buy” rating to a “hold” rating and set a $13.00 price objective for the company. in a research report on Wednesday, November 6th. Stephens reiterated an “equal weight” rating and set a $13.00 price target on shares of Portillo’s in a report on Wednesday, November 6th. Finally, 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 report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $14.00.

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.