Portillo’s Inc. (NASDAQ:PTLO) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in shares of Portillo’s Inc. (NASDAQ:PTLO) by 28.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 211,870 shares of the company’s stock after purchasing an additional 46,650 shares during the quarter. Bank of New York Mellon Corp owned about 0.29% of Portillo’s worth $2,059,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PTLO. Assetmark Inc. raised its position in shares of Portillo’s by 28.6% during the 4th quarter. Assetmark Inc. now owns 3,222 shares of the company’s stock worth $51,000 after purchasing an additional 717 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in Portillo’s by 241.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,812 shares of the company’s stock valued at $54,000 after acquiring an additional 2,694 shares during the period. Fifth Third Bancorp increased its position in Portillo’s by 283.0% in the 2nd quarter. Fifth Third Bancorp now owns 13,100 shares of the company’s stock valued at $127,000 after acquiring an additional 9,680 shares during the period. Price T Rowe Associates Inc. MD increased its position in Portillo’s by 17.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,963 shares of the company’s stock valued at $184,000 after acquiring an additional 1,917 shares during the period. Finally, Ascent Group LLC increased its position in Portillo’s by 8.3% in the 1st quarter. Ascent Group LLC now owns 13,100 shares of the company’s stock valued at $186,000 after acquiring an additional 1,000 shares during the period. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on PTLO. Bank of America lowered their target price on Portillo’s from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Piper Sandler decreased their price target on Portillo’s from $14.00 to $13.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. Morgan Stanley decreased their price target on Portillo’s from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Stephens reaffirmed an “overweight” rating and set a $13.00 price target on shares of Portillo’s in a research note on Tuesday, August 6th. Finally, Stifel Nicolaus decreased their price target on Portillo’s from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, July 12th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.25.

Portillo’s Stock Up 4.7 %

Shares of NASDAQ PTLO opened at $13.31 on Wednesday. The stock has a market cap of $971.23 million, a PE ratio of 33.28, a PEG ratio of 15.63 and a beta of 1.77. The business has a fifty day moving average of $11.01 and a two-hundred day moving average of $11.34. Portillo’s Inc. has a 52-week low of $8.66 and a 52-week high of $16.98. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.30 and a current ratio of 0.38.

Portillo’s (NASDAQ:PTLO) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). Portillo’s had a net margin of 3.30% and a return on equity of 5.08%. The business had revenue of $181.86 million during the quarter, compared to the consensus estimate of $184.44 million. During the same period in the prior year, the firm earned $0.12 earnings per share. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, equities research analysts expect that Portillo’s Inc. will post 0.28 earnings per share for the current fiscal year.

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.