Envestnet Asset Management Inc. Invests $1.17 Million in Portillo's Inc. (NASDAQ:PTLO)

Key Points

• Envestnet Asset Management Inc. acquired a stake in Portillo's Inc., purchasing 98,413 shares valued at approximately $1.17 million, representing 0.13% ownership as of the latest reporting period.
• Portillo's reported quarterly earnings of $0.05 per share, surpassing analysts' expectations, despite revenues of $176.44 million falling short of forecasts.
• Brokerages have set a consensus target price of $14.00 for Portillo’s stock, with recent ratings reflecting a mix of "buy" and "hold" recommendations from various analysts.

Envestnet Asset Management Inc. acquired a new position in Portillo's Inc. (NASDAQ:PTLO - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 98,413 shares of the company's stock, valued at approximately $1,170,000. Envestnet Asset Management Inc. owned approximately 0.13% of Portillo's at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. KLP Kapitalforvaltning AS bought a new stake in shares of Portillo's during the fourth quarter valued at approximately $90,000. Vanguard Group Inc. raised its stake in Portillo's by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 5,571,434 shares of the company's stock valued at $52,371,000 after buying an additional 97,801 shares during the last quarter. Franklin Resources Inc. raised its stake in Portillo's by 0.8% during the fourth quarter. Franklin Resources Inc. now owns 1,301,712 shares of the company's stock valued at $12,236,000 after buying an additional 9,866 shares during the last quarter. Geode Capital Management LLC raised its stake in Portillo's by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 1,282,547 shares of the company's stock valued at $12,060,000 after buying an additional 12,405 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in Portillo's during the fourth quarter valued at $83,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PTLO. Robert W. Baird set a $8.00 price objective on Portillo's in a research note on Tuesday. Bank of America cut their price target on Portillo's from $19.00 to $16.00 and set a "buy" rating for the company in a report on Friday, July 18th. Stephens reaffirmed an "equal weight" rating and issued a $13.00 price objective on shares of Portillo's in a research note on Wednesday, May 7th. Guggenheim dropped their price objective on Portillo's from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Tuesday, July 8th. Finally, Piper Sandler decreased their target price on Portillo's from $17.00 to $13.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $12.88.

Portillo's Stock Performance

Shares of NASDAQ PTLO traded up $0.34 during trading on Wednesday, reaching $7.62. 3,956,368 shares of the company traded hands, compared to its average volume of 2,021,373. Portillo's Inc. has a 12-month low of $7.20 and a 12-month high of $15.78. The company has a current ratio of 0.25, a quick ratio of 0.21 and a debt-to-equity ratio of 0.49. The stock has a market cap of $569.75 million, a P/E ratio of 17.69, a PEG ratio of 6.04 and a beta of 1.81. The firm's fifty day simple moving average is $11.29 and its 200 day simple moving average is $12.14.

Portillo's (NASDAQ:PTLO - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. Portillo's had a return on equity of 5.87% and a net margin of 3.92%. The company had revenue of $188.46 million for the quarter, compared to analysts' expectations of $197.04 million. During the same period in the previous year, the firm posted $0.10 EPS. Portillo's's revenue was up 3.6% compared to the same quarter last year. As a group, research analysts anticipate that Portillo's Inc. will post 0.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Portillo's

In other news, Director Berkshire Partners Llc sold 10,000,000 shares of Portillo'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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.14% of the stock is currently owned by corporate insiders.

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.