Arizona State Retirement System Cuts Holdings in Portillo’s Inc. (NASDAQ:PTLO)

Arizona State Retirement System cut its position in shares of Portillo’s Inc. (NASDAQ:PTLO) by 10.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,322 shares of the company’s stock after selling 1,645 shares during the quarter. Arizona State Retirement System’s holdings in Portillo’s were worth $135,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PTLO. Victory Capital Management Inc. boosted its holdings in Portillo’s by 23.9% during the third quarter. Victory Capital Management Inc. now owns 78,766 shares of the company’s stock worth $1,061,000 after purchasing an additional 15,175 shares during the last quarter. Intech Investment Management LLC purchased a new position in Portillo’s during the third quarter worth about $181,000. Charles Schwab Investment Management Inc. boosted its holdings in Portillo’s by 6.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 458,417 shares of the company’s stock worth $6,175,000 after purchasing an additional 26,588 shares during the last quarter. Soros Capital Management LLC boosted its holdings in Portillo’s by 51.9% during the third quarter. Soros Capital Management LLC now owns 49,020 shares of the company’s stock worth $660,000 after purchasing an additional 16,758 shares during the last quarter. Finally, Engaged Capital LLC boosted its holdings in Portillo’s by 121.5% during the third quarter. Engaged Capital LLC now owns 6,114,956 shares of the company’s stock worth $82,368,000 after purchasing an additional 3,354,513 shares during the last quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. UBS Group dropped their target price on shares of Portillo’s from $14.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Stephens boosted their target price on shares of Portillo’s from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Stifel Nicolaus boosted their target price on shares of Portillo’s from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Finally, Morgan Stanley dropped their target price on shares of Portillo’s from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Portillo’s currently has a consensus rating of “Moderate Buy” and an average price target of $14.29.

Portillo’s Stock Down 1.2 %

PTLO opened at $12.32 on Monday. The company has a 50 day moving average of $13.23 and a 200 day moving average of $12.21. The company has a market cap of $919.11 million, a PE ratio of 29.33, a price-to-earnings-growth ratio of 14.77 and a beta of 1.80. Portillo’s Inc. has a 12 month low of $8.38 and a 12 month high of $15.78. 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 (NASDAQ:PTLO) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.02 by $0.15. The company had revenue of $184.61 million during the quarter, compared to the consensus estimate of $185.16 million. Portillo’s had a net margin of 3.65% and a return on equity of 5.62%. Portillo’s’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period last year, the firm earned $0.13 EPS. On average, sell-side analysts expect that Portillo’s Inc. will post 0.35 EPS 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.