State Street Corp Raises Position in Portillo’s Inc. (NASDAQ:PTLO)

State Street Corp boosted its holdings in Portillo’s Inc. (NASDAQ:PTLO) by 1.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,085,786 shares of the company’s stock after acquiring an additional 17,306 shares during the period. State Street Corp’s holdings in Portillo’s were worth $14,626,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PTLO. Point72 DIFC Ltd bought a new position in Portillo’s in the 2nd quarter worth approximately $29,000. NBC Securities Inc. raised its position in shares of Portillo’s by 43.5% during the 3rd quarter. NBC Securities Inc. now owns 3,300 shares of the company’s stock valued at $44,000 after buying an additional 1,000 shares in the last quarter. AdvisorShares Investments LLC bought a new position in shares of Portillo’s during the 2nd quarter valued at approximately $52,000. nVerses Capital LLC purchased a new position in shares of Portillo’s during the 3rd quarter worth about $69,000. Finally, Arizona State Retirement System grew its stake in shares of Portillo’s by 24.9% during the second quarter. Arizona State Retirement System now owns 16,354 shares of the company’s stock valued at $159,000 after buying an additional 3,261 shares during the last quarter. Institutional investors own 98.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus lowered shares of Portillo’s from a “buy” rating to a “hold” rating and set a $13.00 price objective on the stock. in a report on Wednesday, November 6th. UBS Group raised their target price on Portillo’s from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 6th. Finally, Stephens reiterated an “equal weight” rating and issued a $13.00 price target on shares of Portillo’s in a report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $14.00.

Portillo’s Price Performance

PTLO stock opened at $9.04 on Wednesday. The firm has a market cap of $670.97 million, a P/E ratio of 21.52, a PEG ratio of 10.96 and a beta of 1.68. The stock’s 50 day moving average price is $11.44 and its 200 day moving average price is $11.22. Portillo’s Inc. has a 1 year low of $8.38 and a 1 year high of $16.85. 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 issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.06 by $0.05. The firm had revenue of $178.25 million during the quarter, compared to analyst estimates of $182.07 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 up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.07 earnings per share. On average, sell-side analysts expect that Portillo’s Inc. will post 0.3 earnings per share for the current fiscal year.

Portillo’s 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.