Portillo's Inc. $PTLO Shares Sold by Zuckerman Investment Group LLC

Key Points

• Zuckerman Investment Group LLC has reduced its stake in Portillo's Inc. by 5.2% to approximately 2.4% of its holdings, now owning 1,843,693 shares after selling 101,290 shares.
• Portillo's stock has seen a decline of 3.4%, with the current trading price at $7.04, significantly lower than its 1-year high of $15.78.
• Insiders purchased a total of 210,570 shares worth $1,614,474 over the last 90 days, indicating confidence from company executives amidst recent stock fluctuations.

Zuckerman Investment Group LLC cut its holdings in shares of Portillo's Inc. (NASDAQ:PTLO - Free Report) by 5.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,843,693 shares of the company's stock after selling 101,290 shares during the quarter. Portillo's accounts for 2.4% of Zuckerman Investment Group LLC's investment portfolio, making the stock its 15th largest position. Zuckerman Investment Group LLC owned approximately 2.47% of Portillo's worth $21,922,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PTLO. Wells Fargo & Company MN raised its holdings in shares of Portillo's by 44.0% in the 4th quarter. Wells Fargo & Company MN now owns 44,733 shares of the company's stock valued at $420,000 after purchasing an additional 13,661 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Portillo's during the 4th quarter worth $447,000. Raymond James Financial Inc. acquired a new stake in Portillo's during the 4th quarter worth $1,331,000. Dimensional Fund Advisors LP increased its stake in Portillo's by 139.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,102,103 shares of the company's stock valued at $10,360,000 after purchasing an additional 641,273 shares during the period. Finally, MetLife Investment Management LLC increased its stake in Portillo's by 14.7% in the fourth quarter. MetLife Investment Management LLC now owns 36,548 shares of the company's stock valued at $344,000 after purchasing an additional 4,674 shares during the period. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Portillo's

In related news, Director Eugene I. Lee, Jr. purchased 130,250 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was purchased at an average price of $7.68 per share, with a total value of $1,000,320.00. Following the completion of the transaction, the director owned 130,250 shares of the company's stock, valued at approximately $1,000,320. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michelle Greig Hook acquired 40,000 shares of the company's stock in a transaction dated Thursday, August 7th. The stock was acquired at an average cost of $7.67 per share, with a total value of $306,800.00. Following the transaction, the chief financial officer directly owned 173,405 shares of the company's stock, valued at approximately $1,330,016.35. This represents a 29.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 210,570 shares of company stock worth $1,614,474. 6.14% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Robert W. Baird set a $8.00 price objective on shares of Portillo's in a research note on Tuesday, August 5th. William Blair reiterated an "outperform" rating on shares of Portillo's in a research note on Friday, May 30th. Piper Sandler dropped their price target on shares of Portillo's from $17.00 to $13.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Guggenheim lowered their target price on shares of Portillo's from $18.00 to $17.00 and set a "buy" rating on the stock in a research report on Tuesday, July 8th. Finally, Stephens lowered their target price on shares of Portillo's from $13.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Friday, August 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.50.

Portillo's Trading Down 0.1%

Shares of PTLO traded down $0.01 on Friday, hitting $7.08. 2,080,028 shares of the stock traded hands, compared to its average volume of 4,330,763. The firm has a market capitalization of $533.48 million, a P/E ratio of 15.76, a P/E/G ratio of 4.89 and a beta of 1.81. The company has a quick ratio of 0.23, a current ratio of 0.29 and a debt-to-equity ratio of 0.49. Portillo's Inc. has a 1 year low of $6.88 and a 1 year high of $15.78. The stock's 50 day moving average is $9.73 and its two-hundred day moving average is $11.38.

Portillo's (NASDAQ:PTLO - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. Portillo's had a net margin of 4.19% and a return on equity of 6.25%. The firm had revenue of $188.46 million during the quarter, compared to analysts' expectations of $197.04 million. During the same period in the previous year, the company earned $0.10 EPS. Portillo's's revenue for the quarter was up 3.6% on a year-over-year basis. Portillo's has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Portillo's Inc. will post 0.35 earnings per share for the current 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.