Bank of New York Mellon Corp Grows Holdings in Portillo’s Inc. (NASDAQ:PTLO)

Bank of New York Mellon Corp boosted its holdings in Portillo’s Inc. (NASDAQ:PTLO) by 5.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 185,025 shares of the company’s stock after buying an additional 10,233 shares during the period. Bank of New York Mellon Corp’s holdings in Portillo’s were worth $1,739,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Engaged Capital LLC lifted its stake 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. Principal Financial Group Inc. lifted its holdings in Portillo’s by 10.9% in the third quarter. Principal Financial Group Inc. now owns 1,788,113 shares of the company’s stock worth $24,086,000 after purchasing an additional 175,999 shares during the period. Hodges Capital Management Inc. lifted its holdings in Portillo’s by 80.5% in the fourth quarter. Hodges Capital Management Inc. now owns 1,652,937 shares of the company’s stock worth $15,537,000 after purchasing an additional 737,049 shares during the period. Franklin Resources Inc. lifted its holdings in Portillo’s by 2.6% in the third quarter. Franklin Resources Inc. now owns 1,291,846 shares of the company’s stock worth $15,838,000 after purchasing an additional 32,810 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Portillo’s by 4.0% in the third 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 during the period. Institutional investors and hedge funds own 98.34% of the company’s stock.

Portillo’s Trading Down 2.3 %

Shares of NASDAQ PTLO opened at $12.08 on Friday. The stock has a market cap of $901.20 million, a price-to-earnings ratio of 28.76, a PEG ratio of 14.77 and a beta of 1.80. The business has a 50 day simple moving average of $13.52 and a 200 day simple moving average of $12.22. Portillo’s Inc. has a 52 week low of $8.38 and a 52 week high of $15.78. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.31 and a current ratio of 0.38.

Portillo’s (NASDAQ:PTLO) last announced its earnings results on Tuesday, February 25th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.15. The firm had revenue of $184.61 million during the quarter, compared to analysts’ expectations of $185.16 million. Portillo’s had a return on equity of 5.62% and a net margin of 3.65%. The company’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.13 earnings per share. On average, research analysts predict that Portillo’s Inc. will post 0.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.