Kornitzer Capital Management Inc. KS decreased its stake in Portillo's Inc. (NASDAQ:PTLO - Free Report) by 18.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 580,919 shares of the company's stock after selling 130,000 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.78% of Portillo's worth $6,907,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of PTLO. CWM LLC increased its stake in shares of Portillo's by 58.3% in the first quarter. CWM LLC now owns 3,194 shares of the company's stock worth $38,000 after buying an additional 1,176 shares during the last quarter. North Star Investment Management Corp. grew its stake in Portillo's by 137.6% in the first quarter. North Star Investment Management Corp. now owns 3,517 shares of the company's stock worth $42,000 after purchasing an additional 2,037 shares in the last quarter. 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 during the last quarter. Fund 1 Investments LLC acquired a new stake in Portillo's during the fourth quarter valued at approximately $53,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of Portillo's in the 4th quarter worth approximately $62,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.
Portillo's Price Performance
Shares of NASDAQ:PTLO traded up $0.13 during trading on Friday, reaching $11.19. The company had a trading volume of 3,144,000 shares, compared to its average volume of 1,534,279. The firm's fifty day moving average is $11.78 and its 200 day moving average is $12.14. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.21 and a current ratio of 0.25. The firm has a market capitalization of $837.24 million, a PE ratio of 26.02, a price-to-earnings-growth ratio of 8.49 and a beta of 1.83. Portillo's Inc. has a twelve month low of $8.38 and a twelve month high of $15.78.
Portillo's (NASDAQ:PTLO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. Portillo's had a return on equity of 5.87% and a net margin of 3.92%. The company had revenue of $176.44 million for the quarter, compared to analysts' expectations of $180.76 million. During the same period last year, the firm earned $0.08 EPS. The firm's revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities analysts forecast that Portillo's Inc. will post 0.35 EPS for the current year.
Insider Buying and Selling
In other news, Director Berkshire Partners Llc sold 10,000,000 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $12.23, for a total value of $122,300,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 6.14% of the company's stock.
Analysts Set New Price Targets
Several brokerages recently issued reports on PTLO. Morgan Stanley set a $12.00 price objective on Portillo's in a research note on Monday, April 14th. Bank of America decreased their price target on shares of Portillo's from $19.00 to $16.00 and set a "buy" rating for the company in a report on Friday. Robert W. Baird reiterated a "neutral" rating and set a $12.00 price objective (down previously from $15.00) on shares of Portillo's in a research note on Monday, April 7th. Guggenheim decreased their target price 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, UBS Group lowered their price target on shares of Portillo's from $15.00 to $12.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $14.00.
Read Our Latest Stock Report on PTLO
About Portillo's
(
Free Report)
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.
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