Hodges Capital Management Inc. Has $9.86 Million Stock Holdings in Portillo's Inc. $PTLO

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. reduced its position in shares of Portillo's Inc. (NASDAQ:PTLO - Free Report) by 49.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 as of its most recent SEC filing.

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

Analysts Set New Price Targets

PTLO has been the topic of a number of research reports. Guggenheim lowered 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 decreased their target price on Portillo's from $19.00 to $16.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Morgan Stanley dropped their price target on Portillo's from $12.00 to $10.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 6th. Robert W. Baird cut their price target on Portillo's from $8.00 to $7.00 and set a "neutral" rating for the company in a research note on Thursday. Finally, William Blair reaffirmed an "outperform" rating on shares of Portillo's in a research note on Friday, May 30th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Portillo's has an average rating of "Moderate Buy" and an average price target of $12.19.

Insider Activity

In related news, Director Eugene I. Lee, Jr. bought 130,250 shares of the business's stock in a transaction on Thursday, August 7th. The stock was bought at an average price of $7.68 per share, for a total transaction of $1,000,320.00. Following the transaction, the director directly owned 130,250 shares in the company, valued at $1,000,320. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Kelly M. Kaiser purchased 27,000 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were purchased at an average cost of $7.68 per share, with a total value of $207,360.00. Following the completion of the purchase, the general counsel directly owned 68,495 shares in the company, valued at approximately $526,041.60. This represents a 65.07% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 210,570 shares of company stock worth $1,614,474 in the last quarter. Insiders own 6.14% of the company's stock.

Portillo's Price Performance

PTLO stock traded down $0.07 during trading on Monday, hitting $6.06. The company had a trading volume of 4,323,347 shares, compared to its average volume of 2,302,037. The business has a 50 day moving average of $8.70 and a 200 day moving average of $10.78. 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 firm has a market capitalization of $456.62 million, a price-to-earnings ratio of 13.47, a P/E/G ratio of 4.69 and a beta of 1.79. Portillo's Inc. has a fifty-two week low of $6.00 and a fifty-two week 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 earnings per share for the quarter, meeting the consensus estimate of $0.12. Portillo's had a return on equity of 6.25% and a net margin of 4.19%.The business had revenue of $188.46 million during the quarter, compared to analyst estimates of $197.04 million. During the same quarter in the prior year, the firm posted $0.10 earnings per share. The company's revenue was up 3.6% on a year-over-year basis. Portillo's has set its FY 2025 guidance at EPS. As a group, research analysts predict that Portillo's Inc. will post 0.35 earnings per share 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.