Federated Hermes Inc. Buys 3,600 Shares of Portillo’s Inc. (NASDAQ:PTLO)

Federated Hermes Inc. grew its position in Portillo’s Inc. (NASDAQ:PTLO) by 0.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 418,000 shares of the company’s stock after acquiring an additional 3,600 shares during the period. Federated Hermes Inc. owned 0.57% of Portillo’s worth $4,063,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. raised its position in Portillo’s by 56.7% in the fourth quarter. Victory Capital Management Inc. now owns 21,510 shares of the company’s stock valued at $343,000 after purchasing an additional 7,784 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Portillo’s by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 378,116 shares of the company’s stock valued at $6,023,000 after buying an additional 15,722 shares during the period. Quest Partners LLC bought a new position in Portillo’s in the 4th quarter valued at approximately $564,000. Assetmark Inc. boosted its position in 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 buying an additional 717 shares during the period. Finally, Armistice Capital LLC bought a new stake in Portillo’s during the 4th quarter worth approximately $1,481,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Portillo’s Trading Down 0.2 %

Shares of PTLO stock opened at $13.28 on Thursday. The company has a market cap of $969.04 million, a P/E ratio of 33.20, a PEG ratio of 15.63 and a beta of 1.77. Portillo’s Inc. has a fifty-two week low of $8.66 and a fifty-two week high of $16.98. The stock has a 50 day simple moving average of $11.10 and a two-hundred day simple moving average of $11.35. 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 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). The company had revenue of $181.86 million for the quarter, compared to analyst estimates of $184.44 million. Portillo’s had a net margin of 3.30% and a return on equity of 5.08%. The firm’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.12 EPS. Research analysts forecast that Portillo’s Inc. will post 0.28 earnings per share for the current year.

Wall Street Analyst Weigh In

PTLO has been the topic of a number of recent research reports. Stifel Nicolaus cut their price target on shares of Portillo’s from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, July 12th. Bank of America reduced their price target 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. 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 issued a $13.00 price objective on shares of Portillo’s in a research note on Tuesday, August 6th. Finally, Piper Sandler lowered their price target on shares of Portillo’s from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $15.25.

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.