Southeast Asset Advisors LLC Takes Position in Portillo’s Inc. $PTLO

Southeast Asset Advisors LLC acquired a new position in shares of Portillo’s Inc. (NASDAQ:PTLO) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 130,250 shares of the company’s stock, valued at approximately $840,000.

A number of other institutional investors also recently bought and sold shares of PTLO. Alliancebernstein L.P. grew its stake in shares of Portillo’s by 16.8% in the 2nd quarter. Alliancebernstein L.P. now owns 5,777,921 shares of the company’s stock valued at $67,428,000 after buying an additional 830,460 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Portillo’s during the second quarter worth about $6,537,000. Pier Capital LLC lifted its holdings in shares of Portillo’s by 153.1% in the 2nd quarter. Pier Capital LLC now owns 662,330 shares of the company’s stock worth $7,729,000 after acquiring an additional 400,644 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in Portillo’s in the 2nd quarter valued at approximately $4,668,000. Finally, Orbis Allan Gray Ltd lifted its stake in Portillo’s by 6.4% during the second quarter. Orbis Allan Gray Ltd now owns 6,358,093 shares of the company’s stock worth $74,199,000 after purchasing an additional 384,455 shares in the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Portillo’s Trading Down 1.1%

PTLO opened at $5.40 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.22 and a current ratio of 0.27. Portillo’s Inc. has a one year low of $4.41 and a one year high of $15.78. The company has a market cap of $407.05 million, a P/E ratio of 15.00, a PEG ratio of 7.10 and a beta of 1.75. The business’s 50-day simple moving average is $5.20 and its 200-day simple moving average is $5.85.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PTLO shares. Morgan Stanley set a $7.00 target price on Portillo’s in a research note on Tuesday, January 20th. Stephens reduced their price target on shares of Portillo’s from $8.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. Piper Sandler raised their price objective on shares of Portillo’s from $7.00 to $8.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Stifel Nicolaus reaffirmed a “hold” rating and set a $6.00 target price (down from $8.00) on shares of Portillo’s in a research note on Wednesday, January 7th. Finally, UBS Group decreased their target price on Portillo’s from $6.00 to $5.50 and set a “neutral” rating for the company in a report on Tuesday, January 6th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $7.72.

Portillo’s Profile

Portillo’s, Inc operates a fast‐casual restaurant chain best known for its Chicago‐style menu, featuring Italian beef sandwiches, Chicago‐style hot dogs, char‐grilled burgers, salads, crinkle‐cut fries and hand‐spun milkshakes. In addition to its signature sandwiches and dogs, the company offers a selection of desserts—including its famous chocolate cake and frozen custard—as well as catering services designed to bring its Midwestern flavors to corporate and social events.

The company was founded in 1963 by Dick Portillo, who opened the first Portillo’s in Villa Park, Illinois.