Principal Financial Group Inc. Takes Position in Portillo's Inc. (NASDAQ:PTLO)

Principal Financial Group Inc. bought a new position in Portillo's Inc. (NASDAQ:PTLO - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 121,519 shares of the company's stock, valued at approximately $1,445,000. Principal Financial Group Inc. owned about 0.16% of Portillo's as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Portillo's by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,742 shares of the company's stock valued at $289,000 after purchasing an additional 1,185 shares during the period. Rhumbline Advisers increased its stake in shares of Portillo's by 2.2% in the first quarter. Rhumbline Advisers now owns 82,605 shares of the company's stock worth $982,000 after buying an additional 1,744 shares during the last quarter. North Star Investment Management Corp. increased its stake in shares of 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 buying an additional 2,037 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Portillo's by 17.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,622 shares of the company's stock valued at $194,000 after purchasing an additional 3,098 shares during the last quarter. Finally, Comerica Bank increased its stake in Portillo's by 172.6% during the fourth quarter. Comerica Bank now owns 5,395 shares of the company's stock valued at $51,000 after purchasing an additional 3,416 shares during the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Portillo's

In other news, Director Berkshire Partners Llc sold 10,000,000 shares of the company's 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 sale was disclosed in a filing with the SEC, which is accessible through this link. 6.14% of the stock is owned by corporate insiders.

Portillo's Price Performance

PTLO stock traded up $0.13 during trading on Friday, hitting $11.19. The company had a trading volume of 3,144,000 shares, compared to its average volume of 1,538,346. The firm has a market capitalization of $837.18 million, a price-to-earnings ratio of 26.02, a P/E/G ratio of 8.59 and a beta of 1.83. The business has a 50 day moving average of $11.78 and a 200 day moving average of $12.16. Portillo's Inc. has a fifty-two week low of $8.38 and a fifty-two week high of $15.78. The company has a current ratio of 0.25, a quick ratio of 0.21 and a debt-to-equity ratio of 0.49.

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 for the quarter, beating analysts' consensus estimates of $0.04 by $0.01. Portillo's had a net margin of 3.92% and a return on equity of 5.87%. The company had revenue of $176.44 million during the quarter, compared to the consensus estimate of $180.76 million. During the same period in the prior year, the company earned $0.08 EPS. Portillo's's revenue was up 6.4% on a year-over-year basis. As a group, research analysts predict that Portillo's Inc. will post 0.35 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on PTLO. Stephens reissued an "equal weight" rating and set a $13.00 price target on shares of Portillo's in a report on Wednesday, May 7th. Morgan Stanley set a $12.00 price target on shares of Portillo's in a report on Monday, April 14th. Baird R W downgraded shares of Portillo's from a "strong-buy" rating to a "hold" rating in a report on Monday, April 7th. Bank of America reduced 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. Finally, Robert W. Baird reissued a "neutral" rating and set a $12.00 price target (down previously from $15.00) on shares of Portillo's in a report on Monday, April 7th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Portillo's has an average rating of "Moderate Buy" and a consensus price target of $14.00.

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.