Portillo’s Inc. (NASDAQ:PTLO) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in Portillo’s Inc. (NASDAQ:PTLO) by 4.0% in the third quarter, HoldingsChannel.com reports. The fund owned 1,270,142 shares of the company’s stock after purchasing an additional 49,181 shares during the quarter. Geode Capital Management LLC’s holdings in Portillo’s were worth $17,113,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of New York Mellon Corp grew its position in shares of Portillo’s by 28.2% in 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 during the period. Principal Financial Group Inc. grew its position in Portillo’s by 2.5% during the second quarter. Principal Financial Group Inc. now owns 1,612,114 shares of the company’s stock valued at $15,670,000 after acquiring an additional 39,466 shares during the period. Crossmark Global Holdings Inc. acquired a new stake in Portillo’s during the 2nd quarter worth approximately $236,000. Rhumbline Advisers increased its position in shares of Portillo’s by 24.7% in the second quarter. Rhumbline Advisers now owns 75,392 shares of the company’s stock worth $733,000 after acquiring an additional 14,948 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Portillo’s by 218.1% in the second quarter. Victory Capital Management Inc. now owns 63,591 shares of the company’s stock worth $618,000 after buying an additional 43,602 shares during the period. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Portillo’s Price Performance

NASDAQ PTLO opened at $8.98 on Monday. The company’s 50 day simple moving average is $11.16 and its 200 day simple moving average is $11.20. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.38 and a quick ratio of 0.31. The firm has a market capitalization of $666.51 million, a PE ratio of 21.38, a P/E/G ratio of 10.96 and a beta of 1.68. Portillo’s Inc. has a 12 month low of $8.38 and a 12 month high of $16.45.

Portillo’s (NASDAQ:PTLO) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share (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 quarter in the previous year, the business posted $0.07 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, equities research analysts forecast that Portillo’s Inc. will post 0.3 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PTLO. UBS Group boosted their target price on shares of Portillo’s from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 6th. Stephens reissued an “equal weight” rating and issued a $13.00 price objective on shares of Portillo’s in a report on Wednesday, November 6th. Finally, Stifel Nicolaus downgraded shares of Portillo’s from a “buy” rating to a “hold” rating and set a $13.00 price objective for the company. in a report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Portillo’s presently has a consensus rating of “Hold” and an average price target 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.