Invesco Ltd. Boosts Holdings in Portillo's Inc. $PTLO

Key Points

• Invesco Ltd. increased its stake in Portillo's Inc. by 196.6% during the first quarter, acquiring a total of 173,928 shares valued at approximately $2.07 million.
• Insider buying activity was notable with CFO Michelle Greig Hook purchasing 40,000 shares and CEO Michael Osanloo acquiring 11,320 shares in early August, indicating strong confidence in the company's future.
• Despite a challenging environment, Portillo's reported earnings of $0.12 per share for the quarter, meeting analyst expectations, while revenue reached $188.46 million, representing a 3.6% year-over-year increase.

Invesco Ltd. grew its stake in shares of Portillo's Inc. (NASDAQ:PTLO - Free Report) by 196.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 173,928 shares of the company's stock after acquiring an additional 115,278 shares during the period. Invesco Ltd. owned about 0.23% of Portillo's worth $2,068,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Swiss National Bank grew its holdings in Portillo's by 6.1% in the first quarter. Swiss National Bank now owns 103,200 shares of the company's stock worth $1,227,000 after purchasing an additional 5,900 shares during the last quarter. Atria Wealth Solutions Inc. purchased a new position in Portillo's in the first quarter worth $235,000. Blair William & Co. IL grew its holdings in Portillo's by 32.2% in the first quarter. Blair William & Co. IL now owns 1,613,012 shares of the company's stock worth $19,179,000 after purchasing an additional 392,964 shares during the last quarter. US Bancorp DE purchased a new position in Portillo's in the first quarter worth $95,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Portillo's by 28.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,814 shares of the company's stock worth $212,000 after purchasing an additional 3,941 shares during the last quarter. Institutional investors own 98.34% of the company's stock.

Insider Buying and Selling at Portillo's

In other Portillo's news, CEO Michael Osanloo acquired 11,320 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average price of $7.42 per share, with a total value of $83,994.40. Following the purchase, the chief executive officer owned 63,317 shares in the company, valued at approximately $469,812.14. The trade was a 21.77% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Kelly M. Kaiser purchased 27,000 shares of the company's stock in a transaction dated Thursday, August 7th. The stock was purchased at an average cost of $7.68 per share, with a total value of $207,360.00. Following the purchase, the general counsel owned 68,495 shares in the company, valued at approximately $526,041.60. This trade represents a 65.07% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 210,570 shares of company stock worth $1,614,474 in the last 90 days. 6.14% of the stock is currently owned by insiders.

Portillo's Price Performance

Shares of PTLO traded down $0.01 during mid-day trading on Monday, hitting $7.08. 2,080,028 shares of the company were exchanged, compared to its average volume of 4,265,451. Portillo's Inc. has a 1-year low of $6.88 and a 1-year high of $15.78. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.23 and a current ratio of 0.29. The company has a 50 day moving average of $9.65 and a 200-day moving average of $11.27. The stock has a market cap of $533.48 million, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of 4.89 and a beta of 1.79.

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 (EPS) for the quarter, meeting the consensus estimate of $0.12. Portillo's had a net margin of 4.19% and a return on equity of 6.25%. The company had revenue of $188.46 million during the quarter, compared to analysts' expectations of $197.04 million. During the same quarter in the prior year, the company earned $0.10 EPS. Portillo's's revenue was up 3.6% compared to the same quarter last year. Portillo's has set its FY 2025 guidance at EPS. Analysts expect that Portillo's Inc. will post 0.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Portillo's from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Stephens decreased their target price on shares of Portillo's from $13.00 to $10.00 and set an "equal weight" rating for the company in a research report on Friday, August 8th. Robert W. Baird set a $8.00 price objective on shares of Portillo's in a research report on Tuesday, August 5th. UBS Group decreased their price objective on shares of Portillo's from $12.00 to $9.00 and set a "neutral" rating for the company in a research report on Wednesday, August 6th. Finally, Guggenheim decreased their price objective on shares of Portillo's from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Tuesday, July 8th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Portillo's presently has an average rating of "Moderate Buy" and an average target price of $12.50.

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.