Portillo's Inc. (NASDAQ:PTLO) CFO Purchases $306,800.00 in Stock

Key Points

• Michelle Greig Hook, CFO of Portillo's Inc., acquired 40,000 shares of the company stock at an average price of $7.67, increasing her total holdings to 173,405 shares, valued at around $1.33 million.
• Portillo's reported earnings of $0.12 EPS for the last quarter, meeting analyst expectations, though its revenue fell short of estimates at $188.46 million.
• Analysts have mixed reviews on Portillo's stock with a consensus price target of $12.50, differing from recent price targets set as low as $10.00 and as high as $19.00.

Portillo's Inc. (NASDAQ:PTLO - Get Free Report) CFO Michelle Greig Hook purchased 40,000 shares of the company's stock in a transaction on Thursday, August 7th. The shares were purchased 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 in the company, valued at $1,330,016.35. This trade represents a 29.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Portillo's Stock Performance

Shares of PTLO traded down $0.07 on Wednesday, reaching $7.86. The company's stock had a trading volume of 1,172,947 shares, compared to its average volume of 2,090,756. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.29 and a quick ratio of 0.23. The stock has a market capitalization of $588.38 million, a P/E ratio of 17.50, a PEG ratio of 5.42 and a beta of 1.81. The stock's 50 day simple moving average is $10.85 and its two-hundred day simple moving average is $11.99. Portillo's Inc. has a 12-month low of $7.20 and a 12-month high of $15.78.

Portillo's (NASDAQ:PTLO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. The business had revenue of $188.46 million for the quarter, compared to the consensus estimate of $197.04 million. Portillo's had a net margin of 4.19% and a return on equity of 6.25%. The company's revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 earnings per share. Research analysts forecast that Portillo's Inc. will post 0.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Portillo's

Several institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its position in Portillo's by 135.8% in the second quarter. PNC Financial Services Group Inc. now owns 2,596 shares of the company's stock worth $30,000 after purchasing an additional 1,495 shares during the last quarter. Allworth Financial LP bought a new position in Portillo's during the second quarter valued at $32,000. CWM LLC boosted its stake in shares of 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 purchasing an additional 1,176 shares during the period. North Star Investment Management Corp. boosted its stake 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 purchasing an additional 2,037 shares during the period. Finally, Comerica Bank lifted its stake in Portillo's by 172.6% in the fourth quarter. Comerica Bank now owns 5,395 shares of the company's stock worth $51,000 after acquiring an additional 3,416 shares during the period. Institutional investors own 98.34% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Piper Sandler dropped their target price on shares of Portillo's from $17.00 to $13.00 and set an "overweight" rating for the company in a research report on Wednesday, May 7th. Guggenheim decreased their price target on shares of Portillo's from $18.00 to $17.00 and set a "buy" rating for the company in a research note on Tuesday, July 8th. Bank of America decreased their price target on shares of Portillo's from $19.00 to $16.00 and set a "buy" rating for the company in a research note on Friday, July 18th. Stephens decreased their price target on shares of Portillo's from $13.00 to $10.00 and set an "equal weight" rating for the company in a research note on Friday, August 8th. Finally, Morgan Stanley decreased their price target on shares of Portillo's from $12.00 to $10.00 and set an "equal weight" rating for the company in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $12.50.

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.