Fifth Third Bancorp Grows Stake in Portillo's Inc. (NASDAQ:PTLO)

Fifth Third Bancorp grew its holdings in shares of Portillo's Inc. (NASDAQ:PTLO - Free Report) by 229.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,100 shares of the company's stock after purchasing an additional 30,000 shares during the period. Fifth Third Bancorp owned about 0.06% of Portillo's worth $405,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. SG Americas Securities LLC acquired a new position in Portillo's during the 4th quarter worth $395,000. Perfromance Wealth Partners LLC purchased a new position in shares of Portillo's in the 4th quarter valued at about $145,000. Lakewood Asset Management LLC grew its position in shares of Portillo's by 2.2% during the fourth quarter. Lakewood Asset Management LLC now owns 104,638 shares of the company's stock worth $984,000 after buying an additional 2,251 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in shares of Portillo's during the fourth quarter worth approximately $47,000. Finally, Principal Financial Group Inc. raised its holdings in Portillo's by 10.9% in the third quarter. Principal Financial Group Inc. now owns 1,788,113 shares of the company's stock valued at $24,086,000 after acquiring an additional 175,999 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PTLO. Morgan Stanley reduced their price objective on shares of Portillo's from $15.00 to $13.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 21st. UBS Group decreased their price objective on shares of Portillo's from $14.00 to $11.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Stephens reiterated an "equal weight" rating and set a $13.00 target price on shares of Portillo's in a research report on Wednesday, November 6th. Finally, Stifel Nicolaus raised Portillo's from a "hold" rating to a "buy" rating and upped their target price for the company from $13.00 to $16.00 in a research report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $14.00.

Portillo's Stock Performance

Shares of PTLO traded down $0.18 during mid-day trading on Monday, hitting $13.73. 1,448,723 shares of the company's stock were exchanged, compared to its average volume of 1,861,466. The company has a current ratio of 0.38, a quick ratio of 0.31 and a debt-to-equity ratio of 0.58. Portillo's Inc. has a fifty-two week low of $8.38 and a fifty-two week high of $16.17. The business's 50 day moving average is $10.63 and its two-hundred day moving average is $11.47. The firm has a market capitalization of $1.02 billion, a P/E ratio of 32.69, a P/E/G ratio of 14.26 and a beta of 1.81.

Portillo's (NASDAQ:PTLO - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.06 by $0.05. Portillo's had a return on equity of 5.62% and a net margin of 3.65%. The firm had revenue of $178.25 million during the quarter, compared to the consensus estimate of $182.07 million. During the same period in the prior year, the business earned $0.07 EPS. The firm's revenue was up 6.9% compared to the same quarter last year. On average, equities analysts expect that Portillo's Inc. will post 0.35 earnings per share for the current year.

Portillo's 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.