Formula Growth Ltd. Has $404,000 Holdings in Portillo's Inc. (NASDAQ:PTLO)

Formula Growth Ltd. lowered its stake in Portillo's Inc. (NASDAQ:PTLO - Free Report) by 36.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,000 shares of the company's stock after selling 25,000 shares during the quarter. Formula Growth Ltd. owned approximately 0.06% of Portillo's worth $404,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hodges Capital Management Inc. boosted its stake in Portillo's by 80.5% in the 4th quarter. Hodges Capital Management Inc. now owns 1,652,937 shares of the company's stock worth $15,537,000 after purchasing an additional 737,049 shares during the period. Chicago Partners Investment Group LLC acquired a new stake in shares of Portillo's in the fourth quarter worth $2,590,000. Landscape Capital Management L.L.C. purchased a new position in shares of Portillo's during the fourth quarter valued at $2,623,000. First Eagle Investment Management LLC purchased a new stake in Portillo's in the 4th quarter worth about $2,577,000. Finally, Principal Financial Group Inc. boosted its position in Portillo's by 10.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,788,113 shares of the company's stock worth $24,086,000 after acquiring an additional 175,999 shares during the period. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PTLO has been the subject of a number of research analyst reports. Stifel Nicolaus increased their price target on shares of Portillo's from $16.00 to $17.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Baird R W lowered shares of Portillo's from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 7th. Robert W. Baird reaffirmed a "neutral" rating and issued a $12.00 price target (down from $15.00) on shares of Portillo's in a research note on Monday, April 7th. Morgan Stanley set a $12.00 price objective on Portillo's in a research report on Monday, April 14th. Finally, UBS Group dropped their target price on Portillo's from $14.00 to $11.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Portillo's has an average rating of "Hold" and a consensus target price of $13.71.

Portillo's Stock Down 2.5 %

Shares of PTLO traded down $0.28 during trading hours on Thursday, hitting $10.55. 794,754 shares of the company were exchanged, compared to its average volume of 1,362,940. The firm's 50 day moving average is $12.64 and its 200-day moving average is $12.03. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.31 and a current ratio of 0.38. Portillo's Inc. has a 52 week low of $8.38 and a 52 week high of $15.78. The company has a market cap of $786.69 million, a PE ratio of 25.24, a PEG ratio of 14.77 and a beta of 1.82.

Portillo's (NASDAQ:PTLO - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.15. The company had revenue of $184.61 million for the quarter, compared to analyst estimates of $185.16 million. Portillo's had a net margin of 3.65% and a return on equity of 5.62%. The company's quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.13 earnings per share. On average, equities research analysts forecast that Portillo's Inc. will post 0.35 EPS for the current fiscal year.

About Portillo's

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.