Select Equity Group L.P. Boosts Holdings in Portillo's Inc. $PTLO

Key Points

• Select Equity Group L.P. significantly increased its stake in Portillo's Inc. by 675.1%, owning 1,070,774 shares valued at approximately $12.7 million following the acquisition of 932,624 additional shares.
• Several analysts have adjusted their ratings and price targets for Portillo's, with William Blair reiterating an "outperform" rating, while UBS Group lowered its price objective from $12.00 to $9.00.
• Two insiders, Director Eugene I. Lee, Jr. and General Counsel Kelly M. Kaiser, purchased a total of 157,250 shares recently, indicating confidence in the company despite stock volatility.

Select Equity Group L.P. raised its position in shares of Portillo's Inc. (NASDAQ:PTLO - Free Report) by 675.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,070,774 shares of the company's stock after buying an additional 932,624 shares during the quarter. Select Equity Group L.P. owned about 1.44% of Portillo's worth $12,732,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CWM LLC lifted its position in Portillo's by 58.3% during the first quarter. CWM LLC now owns 3,194 shares of the company's stock valued at $38,000 after buying an additional 1,176 shares during the period. North Star Investment Management Corp. increased its holdings in shares of Portillo's by 137.6% during the first quarter. North Star Investment Management Corp. now owns 3,517 shares of the company's stock valued at $42,000 after acquiring an additional 2,037 shares in the last quarter. Comerica Bank lifted its holdings in shares of 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 in the last quarter. Fund 1 Investments LLC bought a new position in shares of Portillo's during the fourth quarter valued at $53,000. Finally, BNP Paribas Financial Markets bought a new position in Portillo's in the fourth quarter valued at about $62,000. Hedge funds and other institutional investors own 98.34% of the company's stock.

Portillo's Price Performance

PTLO traded down $0.09 during trading hours on Friday, hitting $6.06. The company's stock had a trading volume of 1,981,053 shares, compared to its average volume of 2,276,079. The business's 50-day moving average price is $8.82 and its 200-day moving average price is $10.88. Portillo's Inc. has a 12 month low of $6.00 and a 12 month high of $15.78. The stock has a market cap of $456.24 million, a price-to-earnings ratio of 13.46, a P/E/G ratio of 4.55 and a beta of 1.78. The company has a current ratio of 0.29, a quick ratio of 0.23 and a debt-to-equity ratio of 0.49.

Portillo's (NASDAQ:PTLO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.12 earnings per share 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 company had revenue of $188.46 million for the quarter, compared to analysts' expectations of $197.04 million. During the same quarter in the previous year, the business posted $0.10 earnings per share. Portillo's's quarterly revenue was up 3.6% on a year-over-year basis. Portillo's has set its FY 2025 guidance at EPS. Sell-side analysts expect that Portillo's Inc. will post 0.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Guggenheim cut their price objective on shares of Portillo's from $18.00 to $17.00 and set a "buy" rating for the company in a research report on Tuesday, July 8th. William Blair reiterated an "outperform" rating on shares of Portillo's in a research note on Friday, May 30th. Bank of America cut their price target on Portillo's from $19.00 to $16.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Wall Street Zen lowered Portillo's from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, UBS Group cut their price target on Portillo's from $12.00 to $9.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $12.38.

Insider Buying and Selling at Portillo's

In other Portillo's news, CFO Michelle Greig Hook purchased 40,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was purchased at an average price of $7.67 per share, with a total value of $306,800.00. Following the acquisition, the chief financial officer owned 173,405 shares in the company, valued at approximately $1,330,016.35. The trade was a 29.98% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eugene I. Lee, Jr. purchased 130,250 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was acquired at an average cost of $7.68 per share, with a total value of $1,000,320.00. Following the acquisition, the director owned 130,250 shares in the company, valued at $1,000,320. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 210,570 shares of company stock worth $1,614,474 in the last 90 days. 6.14% of the stock is currently owned by 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.