Portillo's Inc. $PTLO Shares Sold by Hodges Capital Management Inc.

Key Points

• Hodges Capital Management Inc. reduced its stake in Portillo's by 49.8%, owning 829,292 shares worth approximately $9.86 million following the sale of 823,645 shares during the first quarter.
• Several institutional investors, including Price T Rowe Associates and Bank of America, increased their holdings in Portillo's, collectively owning 98.34% of the company's stock.
• The stock's latest earnings report showed $0.12 EPS, meeting expectations, with revenue of $188.46 million, though below the forecast of $197.04 million.

Hodges Capital Management Inc. cut its stake in Portillo's Inc. (NASDAQ:PTLO - Free Report) by 49.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 829,292 shares of the company's stock after selling 823,645 shares during the period. Hodges Capital Management Inc. owned approximately 1.11% of Portillo's worth $9,860,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its position in Portillo's by 17.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,622 shares of the company's stock worth $194,000 after acquiring an additional 3,098 shares during the last quarter. Northern Trust Corp boosted its position in shares of Portillo's by 6.9% during the 4th quarter. Northern Trust Corp now owns 502,461 shares of the company's stock valued at $4,723,000 after purchasing an additional 32,623 shares in the last quarter. Comerica Bank boosted its position in shares of Portillo's by 172.6% during the 4th quarter. Comerica Bank now owns 5,395 shares of the company's stock valued at $51,000 after purchasing an additional 3,416 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in Portillo's during the 4th quarter worth approximately $62,000. Finally, Bank of America Corp DE raised its stake in Portillo's by 58.0% during the 4th quarter. Bank of America Corp DE now owns 154,872 shares of the company's stock worth $1,456,000 after buying an additional 56,867 shares during the period. Institutional investors and hedge funds own 98.34% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PTLO. Bank of America lowered their price objective on Portillo's from $19.00 to $16.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Wall Street Zen downgraded Portillo's from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Guggenheim cut their price target on Portillo's from $18.00 to $17.00 and set a "buy" rating for the company in a report on Tuesday, July 8th. UBS Group cut their price target on Portillo's from $9.00 to $7.50 and set a "neutral" rating for the company in a report on Monday. Finally, Robert W. Baird lowered their price objective on Portillo's from $8.00 to $7.00 and set a "neutral" rating on the stock in a research report on Thursday, September 11th. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Portillo's currently has an average rating of "Moderate Buy" and an average target price of $12.19.

Insiders Place Their Bets

In other news, Director Eugene I. Lee, Jr. acquired 130,250 shares of Portillo's stock in a transaction that occurred on Thursday, August 7th. The shares were bought at an average cost of $7.68 per share, with a total value of $1,000,320.00. Following the transaction, the director directly owned 130,250 shares of the company's stock, valued at $1,000,320. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael Osanloo bought 11,320 shares of Portillo's stock in a transaction dated Friday, August 8th. The shares were bought at an average cost of $7.42 per share, for a total transaction of $83,994.40. Following the completion of the transaction, the chief executive officer owned 63,317 shares of the company's stock, valued at approximately $469,812.14. This trade represents a 21.77% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 210,570 shares of company stock worth $1,614,474. 6.14% of the stock is currently owned by corporate insiders.

Portillo's Stock Up 3.1%

Portillo's stock traded up $0.20 during trading hours on Wednesday, hitting $6.42. 1,149,978 shares of the stock traded hands, compared to its average volume of 2,299,563. The firm's 50-day moving average price is $8.46 and its two-hundred day moving average price is $10.69. The company has a current ratio of 0.29, a quick ratio of 0.23 and a debt-to-equity ratio of 0.49. The company has a market cap of $483.37 million, a PE ratio of 14.23, a PEG ratio of 4.63 and a beta of 1.78. Portillo's Inc. has a one year low of $6.00 and a one year high of $15.78.

Portillo's (NASDAQ:PTLO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.12 EPS for the quarter, hitting analysts' consensus estimates of $0.12. The firm had revenue of $188.46 million for the quarter, compared to analysts' expectations of $197.04 million. Portillo's had a return on equity of 6.25% and a net margin of 4.19%.The business's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. Portillo's has set its FY 2025 guidance at EPS. On average, research analysts forecast that Portillo's Inc. will post 0.35 EPS for the current year.

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.