Select Equity Group L.P. Purchases 22,459 Shares of Portillo's Inc. (NASDAQ:PTLO)

Select Equity Group L.P. grew its holdings in shares of Portillo's Inc. (NASDAQ:PTLO - Free Report) by 19.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 138,150 shares of the company's stock after buying an additional 22,459 shares during the period. Select Equity Group L.P. owned 0.19% of Portillo's worth $1,299,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PTLO. Perfromance Wealth Partners LLC purchased a new position in Portillo's in the 4th quarter worth about $145,000. SG Americas Securities LLC acquired a new position in Portillo's in the 4th quarter worth approximately $395,000. Fifth Third Bancorp grew its position in Portillo's by 229.0% during the 4th quarter. Fifth Third Bancorp now owns 43,100 shares of the company's stock worth $405,000 after purchasing an additional 30,000 shares in the last quarter. Sonora Investment Management Group LLC acquired a new stake in Portillo's during the 4th quarter valued at $98,000. Finally, Total Clarity Wealth Management Inc. purchased a new stake in shares of Portillo's in the fourth quarter valued at $165,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Portillo's

In other Portillo's 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 value of $122,300,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.57% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PTLO shares. UBS Group decreased their target price on shares of Portillo's from $15.00 to $12.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Piper Sandler cut their price target on Portillo's from $17.00 to $13.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Robert W. Baird restated a "neutral" rating and set a $12.00 price target (down previously from $15.00) on shares of Portillo's in a research note on Monday, April 7th. Stephens restated an "equal weight" rating and set a $13.00 target price on shares of Portillo's in a research note on Wednesday, May 7th. Finally, Stifel Nicolaus lifted their target price on shares of Portillo's from $16.00 to $17.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $13.71.

Portillo's Trading Down 2.2%

PTLO stock traded down $0.26 during midday trading on Friday, reaching $11.47. The stock had a trading volume of 828,921 shares, compared to its average volume of 1,427,477. The company has a quick ratio of 0.31, a current ratio of 0.38 and a debt-to-equity ratio of 0.58. Portillo's Inc. has a twelve month low of $8.38 and a twelve month high of $15.78. The firm has a market cap of $855.32 million, a price-to-earnings ratio of 27.30, a PEG ratio of 14.77 and a beta of 1.83. The business has a fifty day simple moving average of $11.60 and a two-hundred day simple moving average of $11.84.

Portillo's (NASDAQ:PTLO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. Portillo's had a net margin of 3.65% and a return on equity of 5.62%. The business had revenue of $176.44 million during the quarter, compared to the consensus estimate of $180.76 million. During the same period in the previous year, the firm posted $0.08 earnings per share. Portillo's's revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, research analysts expect that Portillo's Inc. will post 0.35 EPS for the current fiscal year.

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.