Bank of America Corp DE Has $1.46 Million Position in Portillo's Inc. (NASDAQ:PTLO)

Bank of America Corp DE lifted its holdings in shares of Portillo's Inc. (NASDAQ:PTLO - Free Report) by 58.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 154,872 shares of the company's stock after acquiring an additional 56,867 shares during the quarter. Bank of America Corp DE owned approximately 0.21% of Portillo's worth $1,456,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PTLO. Stoneridge Investment Partners LLC boosted its stake in shares of Portillo's by 23.5% during the 4th quarter. Stoneridge Investment Partners LLC now owns 12,605 shares of the company's stock worth $118,000 after acquiring an additional 2,396 shares during the period. Savant Capital LLC bought a new position in Portillo's during the fourth quarter worth $96,000. Rhumbline Advisers boosted its position in Portillo's by 3.5% during the fourth quarter. Rhumbline Advisers now owns 80,861 shares of the company's stock worth $760,000 after purchasing an additional 2,741 shares during the period. Olympiad Research LP bought a new position in Portillo's during the fourth quarter worth $191,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Portillo's by 5.9% during the 4th quarter. Bank of New York Mellon Corp now owns 185,025 shares of the company's stock worth $1,739,000 after buying an additional 10,233 shares during the period. 98.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Stifel Nicolaus lifted their target price on shares of Portillo's from $16.00 to $17.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Robert W. Baird restated a "neutral" rating and set a $12.00 price objective (down previously from $15.00) on shares of Portillo's in a report on Monday, April 7th. Morgan Stanley set a $12.00 price objective on Portillo's in a report on Monday, April 14th. William Blair restated an "outperform" rating on shares of Portillo's in a research note on Friday, May 30th. Finally, Stephens restated an "equal weight" rating and issued a $13.00 price target on shares of Portillo's in a research note on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $13.71.

Portillo's Stock Performance

Shares of NASDAQ:PTLO traded down $0.82 on Thursday, reaching $11.24. 2,037,995 shares of the company's stock were exchanged, compared to its average volume of 1,452,678. The company has a fifty day moving average of $11.51 and a 200-day moving average of $11.81. Portillo's Inc. has a twelve month low of $8.38 and a twelve month high of $15.78. The company has a market capitalization of $840.92 million, a price-to-earnings ratio of 26.76, a PEG ratio of 14.77 and a beta of 1.87. The company has a current ratio of 0.38, a quick ratio of 0.31 and a debt-to-equity ratio of 0.58.

Portillo's (NASDAQ:PTLO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. The business had revenue of $176.44 million for the quarter, compared to the consensus estimate of $180.76 million. Portillo's had a return on equity of 5.62% and a net margin of 3.65%. The firm's quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.08 earnings per share. On average, research analysts predict that Portillo's Inc. will post 0.35 EPS for the current fiscal year.

Insider Transactions at Portillo's

In other Portillo's news, Director Berkshire Partners Llc sold 10,000,000 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $12.23, for a total transaction of $122,300,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.14% of the stock is currently owned by insiders.

About Portillo's

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.