Portillo's Inc. $PTLO Shares Sold by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. cut its stake in Portillo's by 88.8% in the third quarter, selling 480,924 shares and leaving it with 60,724 shares (about 0.08% of the company, valued at ~$392,000).
• Director Eugene I. Lee, Jr. purchased 286,000 shares on March 13 at an average $5.18 per share (~$1.48M), boosting his holdings to 416,250 shares (a 219.6% increase); insiders now own 6.14% of the stock.
• Portillo's shares opened at $5.56 (up ~3.3%), market cap ~ $420M, 52-week range $4.41–$13.55, and Wall Street has a consensus "Hold" rating with a $7.50 price target.

JPMorgan Chase & Co. cut its stake in shares of Portillo's Inc. (NASDAQ:PTLO - Free Report) by 88.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,724 shares of the company's stock after selling 480,924 shares during the period. JPMorgan Chase & Co. owned approximately 0.08% of Portillo's worth $392,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. State of Wyoming increased its position in shares of Portillo's by 176.6% during the third quarter. State of Wyoming now owns 4,531 shares of the company's stock valued at $29,000 after acquiring an additional 2,893 shares during the last quarter. CWM LLC increased its position in shares of Portillo's by 84.5% during the third quarter. CWM LLC now owns 5,243 shares of the company's stock valued at $34,000 after acquiring an additional 2,401 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Portillo's by 33.7% in the third quarter. Jones Financial Companies Lllp now owns 9,203 shares of the company's stock valued at $58,000 after purchasing an additional 2,318 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Portillo's by 69.6% in the second quarter. BNP Paribas Financial Markets now owns 5,426 shares of the company's stock valued at $63,000 after purchasing an additional 2,227 shares during the period. Finally, Rothschild Investment LLC boosted its stake in shares of Portillo's by 13,373.3% in the third quarter. Rothschild Investment LLC now owns 10,105 shares of the company's stock valued at $65,000 after purchasing an additional 10,030 shares during the period. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Portillo's

In other news, Director Eugene I. Lee, Jr. purchased 286,000 shares of the firm's stock in a transaction that occurred on Friday, March 13th. The stock was bought at an average price of $5.18 per share, for a total transaction of $1,481,480.00. Following the completion of the purchase, the director directly owned 416,250 shares of the company's stock, valued at $2,156,175. The trade was a 219.58% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.14% of the stock is owned by corporate insiders.

Portillo's Stock Up 3.3%

Shares of Portillo's stock opened at $5.56 on Wednesday. Portillo's Inc. has a 52-week low of $4.41 and a 52-week high of $13.55. The company has a 50 day moving average of $5.49 and a 200 day moving average of $5.36. The company has a quick ratio of 0.22, a current ratio of 0.27 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $419.84 million, a P/E ratio of 20.59, a P/E/G ratio of 1.93 and a beta of 1.68.

Portillo's (NASDAQ:PTLO - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.03. Portillo's had a net margin of 2.64% and a return on equity of 3.93%. The company had revenue of $185.75 million during the quarter, compared to the consensus estimate of $185.50 million. During the same quarter in the previous year, the firm earned $0.17 earnings per share. The firm's quarterly revenue was up .6% on a year-over-year basis. As a group, research analysts forecast that Portillo's Inc. will post 0.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Piper Sandler raised their price objective on shares of Portillo's from $7.00 to $8.00 and gave the company an "overweight" rating in a research note on Friday, January 16th. Wolfe Research assumed coverage on shares of Portillo's in a research note on Monday, March 9th. They issued a "peer perform" rating for the company. UBS Group lowered their price objective on shares of Portillo's from $6.00 to $5.50 and set a "neutral" rating for the company in a research note on Tuesday, January 6th. Weiss Ratings reissued a "sell (d+)" rating on shares of Portillo's in a research note on Monday, December 22nd. Finally, Morgan Stanley set a $7.00 price objective on shares of Portillo's in a research note on Tuesday, January 20th. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Portillo's has a consensus rating of "Hold" and a consensus price target of $7.50.

Portillo's Profile

Portillo’s, Inc operates a fast‐casual restaurant chain best known for its Chicago‐style menu, featuring Italian beef sandwiches, Chicago‐style hot dogs, char‐grilled burgers, salads, crinkle‐cut fries and hand‐spun milkshakes. In addition to its signature sandwiches and dogs, the company offers a selection of desserts—including its famous chocolate cake and frozen custard—as well as catering services designed to bring its Midwestern flavors to corporate and social events.

The company was founded in 1963 by Dick Portillo, who opened the first Portillo’s in Villa Park, Illinois.

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