Portillo’s Inc. $PTLO Stake Lifted by Engaged Capital LLC

Engaged Capital LLC lifted its position in Portillo’s Inc. (NASDAQ:PTLO) by 124.3% in the 1st quarter, Holdings Channel reports. The fund owned 3,442,990 shares of the company’s stock after acquiring an additional 1,908,000 shares during the quarter. Portillo’s accounts for 6.0% of Engaged Capital LLC’s holdings, making the stock its 6th biggest holding. Engaged Capital LLC’s holdings in Portillo’s were worth $18,213,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PTLO. Orbis Allan Gray Ltd boosted its position in shares of Portillo’s by 2.3% during the fourth quarter. Orbis Allan Gray Ltd now owns 6,994,844 shares of the company’s stock valued at $31,757,000 after purchasing an additional 155,205 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Portillo’s by 16.8% in the second quarter. Alliancebernstein L.P. now owns 5,777,921 shares of the company’s stock worth $67,428,000 after purchasing an additional 830,460 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Portillo’s by 4.4% in the second quarter. Ameriprise Financial Inc. now owns 3,563,600 shares of the company’s stock worth $41,587,000 after purchasing an additional 149,931 shares in the last quarter. Millennium Management LLC purchased a new position in Portillo’s during the fourth quarter valued at $10,350,000. Finally, Dimensional Fund Advisors LP lifted its position in Portillo’s by 11.6% during the third quarter. Dimensional Fund Advisors LP now owns 2,131,834 shares of the company’s stock valued at $13,750,000 after buying an additional 221,298 shares during the period. 98.34% of the stock is currently owned by institutional investors.

Portillo’s Trading Up 7.4%

Portillo’s stock opened at $4.67 on Tuesday. The company has a current ratio of 0.26, a quick ratio of 0.22 and a debt-to-equity ratio of 0.47. The business’s fifty day simple moving average is $4.37 and its two-hundred day simple moving average is $5.06. Portillo’s Inc. has a 12 month low of $3.78 and a 12 month high of $10.66. The company has a market capitalization of $354.03 million, a price-to-earnings ratio of 22.24, a price-to-earnings-growth ratio of 0.80 and a beta of 1.56.

Portillo’s (NASDAQ:PTLO) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). The company had revenue of $182.62 million for the quarter, compared to the consensus estimate of $183.26 million. Portillo’s had a net margin of 2.12% and a return on equity of 3.17%. Portillo’s’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.05 earnings per share. As a group, equities analysts predict that Portillo’s Inc. will post 0.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PTLO shares. Roth Capital set a $8.00 target price on shares of Portillo’s in a research report on Wednesday, May 6th. Morgan Stanley lowered their price target on shares of Portillo’s from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 6th. Piper Sandler dropped their price objective on shares of Portillo’s from $8.00 to $6.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. Robert W. Baird set a $5.25 price objective on shares of Portillo’s in a report on Wednesday, May 6th. Finally, Stifel Nicolaus decreased their target price on shares of Portillo’s from $6.00 to $5.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Portillo’s has a consensus rating of “Hold” and a consensus target price of $5.92.

Insider Transactions at Portillo’s

In other news, Director Eugene I. Lee, Jr. acquired 70,165 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average cost of $4.28 per share, with a total value of $300,306.20. Following the transaction, the director owned 486,415 shares of the company’s stock, valued at $2,081,856.20. This trade represents a 16.86% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.34% of the stock is currently owned by insiders.

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.