Portillo's Inc. (NASDAQ:PTLO) Shares Acquired by Northern Trust Corp

Northern Trust Corp grew its position in Portillo's Inc. (NASDAQ:PTLO - Free Report) by 6.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 502,461 shares of the company's stock after buying an additional 32,623 shares during the quarter. Northern Trust Corp owned 0.68% of Portillo's worth $4,723,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Hollencrest Capital Management lifted its holdings in shares of Portillo's by 100.0% in the 4th quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock worth $38,000 after buying an additional 2,000 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Portillo's in the 4th quarter worth $83,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Portillo's in the 4th quarter worth $90,000. Savant Capital LLC purchased a new stake in shares of Portillo's in the 4th quarter worth $96,000. Finally, Sonora Investment Management Group LLC purchased a new stake in shares of Portillo's in the 4th quarter worth $98,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Portillo's Stock Down 2.5%

Shares of NASDAQ PTLO traded down $0.29 during mid-day trading on Friday, reaching $11.43. 1,983,316 shares of the company were exchanged, compared to its average volume of 1,429,692. The firm has a 50-day moving average of $11.58 and a 200 day moving average of $11.81. Portillo's Inc. has a 1 year low of $8.38 and a 1 year high of $15.78. The stock has a market cap of $852.71 million, a price-to-earnings ratio of 27.21, a P/E/G ratio of 14.77 and a beta of 1.83. 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 (NASDAQ:PTLO - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.01. Portillo's had a return on equity of 5.62% and a net margin of 3.65%. The company had revenue of $176.44 million during the quarter, compared to analysts' expectations of $180.76 million. During the same period last year, the business posted $0.08 earnings per share. The firm's revenue was up 6.4% compared to the same quarter last year. On average, research analysts expect that Portillo's Inc. will post 0.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PTLO. UBS Group lowered their target price on Portillo's from $15.00 to $12.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Piper Sandler decreased their price objective 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. Stephens restated an "equal weight" rating and set a $13.00 price objective on shares of Portillo's in a research note on Wednesday, May 7th. Robert W. Baird restated a "neutral" rating and set a $12.00 price objective (down from $15.00) on shares of Portillo's in a research note on Monday, April 7th. Finally, Baird R W cut Portillo's from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $13.71.

Insider Buying and Selling at Portillo's

In other Portillo's news, Director Berkshire Partners Llc sold 10,000,000 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $12.23, for a total value of $122,300,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.57% of the stock is currently owned by company insiders.

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.