Blair William & Co. IL Has $19.18 Million Stake in Portillo's Inc. (NASDAQ:PTLO)

Key Points

• Blair William & Co. IL increased its holdings in Portillo's Inc. (PTLO) by 32.2%, owning over 1.6 million shares valued at approximately $19 million.
• Portillo's stock price dropped by 23.3% to $7.28, with a market cap of $544.69 million and significant trading volume on the day.
• Insider selling occurred when Berkshire Partners LLC sold 10 million shares for $122.3 million, marking a considerable transaction for the company.

Blair William & Co. IL increased its position in shares of Portillo's Inc. (NASDAQ:PTLO - Free Report) by 32.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,613,012 shares of the company's stock after purchasing an additional 392,964 shares during the period. Blair William & Co. IL owned 2.16% of Portillo's worth $19,179,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE bought a new stake in shares of Portillo's in the 1st quarter worth $95,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Portillo's by 28.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,814 shares of the company's stock worth $212,000 after acquiring an additional 3,941 shares during the period. 4WEALTH Advisors Inc. raised its position in Portillo's by 46.4% in the first quarter. 4WEALTH Advisors Inc. now owns 43,542 shares of the company's stock worth $518,000 after acquiring an additional 13,792 shares in the last quarter. Miller Financial Services LLC lifted its holdings in Portillo's by 3.6% in the 1st quarter. Miller Financial Services LLC now owns 61,266 shares of the company's stock valued at $728,000 after acquiring an additional 2,140 shares during the last quarter. Finally, CWM LLC boosted its position in shares of Portillo's by 58.3% during the 1st quarter. CWM LLC now owns 3,194 shares of the company's stock valued at $38,000 after purchasing an additional 1,176 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Portillo's Stock Down 4.2%

Shares of PTLO traded down $0.33 during trading hours on Friday, reaching $7.40. The company's stock had a trading volume of 3,726,386 shares, compared to its average volume of 2,061,993. The company has a 50 day moving average of $11.12 and a two-hundred day moving average of $12.08. The company has a quick ratio of 0.21, a current ratio of 0.29 and a debt-to-equity ratio of 0.49. The firm has a market cap of $553.26 million, a price-to-earnings ratio of 16.47, a P/E/G ratio of 5.22 and a beta of 1.81. Portillo's Inc. has a 1-year low of $7.20 and a 1-year high of $15.78.

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 analysts' consensus estimates of $0.12. The firm had revenue of $188.46 million for the quarter, compared to the consensus estimate of $197.04 million. Portillo's had a net margin of 4.19% and a return on equity of 6.25%. The firm's revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 earnings per share. As a group, research analysts predict that Portillo's Inc. will post 0.35 EPS for the current fiscal year.

Insider Activity at Portillo's

In related news, Director Berkshire Partners Llc sold 10,000,000 shares of the firm's stock in a transaction that occurred on 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 document filed with the SEC, which is available at this hyperlink. Insiders own 6.14% of the company's stock.

Wall Street Analyst Weigh In

PTLO has been the topic of a number of research reports. Piper Sandler dropped their target price on shares of Portillo's from $17.00 to $13.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Guggenheim dropped their price target on Portillo's from $18.00 to $17.00 and set a "buy" rating on the stock in a report on Tuesday, July 8th. Bank of America cut their price objective on Portillo's from $19.00 to $16.00 and set a "buy" rating for the company in a research report on Friday, July 18th. William Blair restated an "outperform" rating on shares of Portillo's in a report on Friday, May 30th. Finally, Stephens reduced their target price on Portillo's from $13.00 to $10.00 and set an "equal weight" rating for the company in a report on Friday. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $12.50.

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.