Allspring Global Investments Holdings LLC Buys New Stake in Portillo's Inc. $PTLO

Key Points

• Allspring Global Investments Holdings LLC has acquired a new stake in Portillo's Inc., purchasing 560,135 shares valued at approximately $6.54 million, which represents 0.75% of the company.
• Portillo's stock has seen a slight increase of 0.3%, with the current trading price at $5.90 and a market capitalization of approximately $444.57 million.
• Recent earnings reports indicated a net margin of 4.19% and a revenue of $188.46 million, slightly below analysts' expectations, with the company projecting an EPS of 0.35 for FY 2025.

Allspring Global Investments Holdings LLC purchased a new position in shares of Portillo's Inc. (NASDAQ:PTLO - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 560,135 shares of the company's stock, valued at approximately $6,537,000. Allspring Global Investments Holdings LLC owned 0.75% of Portillo's at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PTLO. Alliancebernstein L.P. boosted its stake in Portillo's by 10,963.2% during the 1st quarter. Alliancebernstein L.P. now owns 4,947,461 shares of the company's stock worth $58,825,000 after purchasing an additional 4,902,741 shares during the period. Fred Alger Management LLC acquired a new stake in Portillo's during the 1st quarter worth $17,489,000. Ameriprise Financial Inc. boosted its stake in Portillo's by 53.6% during the 1st quarter. Ameriprise Financial Inc. now owns 3,413,669 shares of the company's stock worth $40,590,000 after purchasing an additional 1,191,443 shares during the period. Select Equity Group L.P. boosted its stake in Portillo's by 675.1% during the 1st quarter. Select Equity Group L.P. now owns 1,070,774 shares of the company's stock worth $12,732,000 after purchasing an additional 932,624 shares during the period. Finally, Blair William & Co. IL boosted its stake in Portillo's by 32.2% during the 1st quarter. Blair William & Co. IL now owns 1,613,012 shares of the company's stock worth $19,179,000 after purchasing an additional 392,964 shares during the period. Institutional investors and hedge funds own 98.34% of the company's stock.

Portillo's Stock Up 0.3%

Shares of NASDAQ PTLO opened at $5.90 on Monday. The company has a quick ratio of 0.23, a current ratio of 0.29 and a debt-to-equity ratio of 0.49. Portillo's Inc. has a 52 week low of $5.83 and a 52 week high of $15.78. The firm has a 50-day moving average price of $6.67 and a 200 day moving average price of $9.63. The stock has a market capitalization of $444.57 million, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 5.04 and a beta of 1.75.

Portillo's (NASDAQ:PTLO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.12 EPS for the quarter, meeting the consensus estimate of $0.12. Portillo's had a net margin of 4.19% and a return on equity of 6.25%. The firm had revenue of $188.46 million during the quarter, compared to analysts' expectations of $197.04 million. During the same quarter last year, the business earned $0.10 earnings per share. The business's revenue for the quarter was up 3.6% compared to the same quarter last year. Portillo's has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Portillo's Inc. will post 0.35 EPS for the current fiscal year.

Insider Activity at Portillo's

In related news, General Counsel Kelly M. Kaiser acquired 27,000 shares of Portillo's stock in a transaction that occurred on Thursday, August 7th. The stock was purchased at an average price of $7.68 per share, for a total transaction of $207,360.00. Following the completion of the purchase, the general counsel directly owned 68,495 shares of the company's stock, valued at approximately $526,041.60. This trade represents a 65.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Osanloo acquired 11,320 shares of Portillo's stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average price of $7.42 per share, with a total value of $83,994.40. Following the purchase, the chief executive officer directly owned 63,317 shares of the company's stock, valued at approximately $469,812.14. This trade represents a 21.77% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 210,570 shares of company stock worth $1,614,474 over the last three months. 6.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wall Street Zen cut shares of Portillo's from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Weiss Ratings restated a "sell (d+)" rating on shares of Portillo's in a research note on Wednesday, October 8th. Stephens set a $8.00 target price on shares of Portillo's in a research note on Monday, October 13th. Bank of America restated a "neutral" rating and issued a $7.00 target price (down previously from $14.00) on shares of Portillo's in a research note on Monday, October 6th. Finally, Morgan Stanley reduced their target price on shares of Portillo's from $12.00 to $10.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 6th. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $10.28.

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.

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