Raymond James Financial Inc. Takes Position in Portillo's Inc. (NASDAQ:PTLO)

Raymond James Financial Inc. acquired a new stake in Portillo's Inc. (NASDAQ:PTLO - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 141,550 shares of the company's stock, valued at approximately $1,331,000. Raymond James Financial Inc. owned about 0.19% of Portillo's at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Hollencrest Capital Management increased its stake in shares of Portillo's by 100.0% during the 4th quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock worth $38,000 after purchasing an additional 2,000 shares in the last quarter. Mesirow Financial Investment Management Inc. boosted its stake in shares of Portillo's by 5.0% during the 4th quarter. Mesirow Financial Investment Management Inc. now owns 43,032 shares of the company's stock worth $405,000 after purchasing an additional 2,038 shares during the last quarter. Lakewood Asset Management LLC grew its holdings 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. Stoneridge Investment Partners LLC raised its position in shares of Portillo's by 23.5% in the fourth quarter. Stoneridge Investment Partners LLC now owns 12,605 shares of the company's stock valued at $118,000 after buying an additional 2,396 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Portillo's by 3.5% during the 4th quarter. Rhumbline Advisers now owns 80,861 shares of the company's stock worth $760,000 after purchasing an additional 2,741 shares during the period. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PTLO shares. Piper Sandler lowered their price objective on shares of Portillo's from $17.00 to $13.00 and set an "overweight" rating for the company in a research note on Wednesday. Stifel Nicolaus upped their price target on Portillo's from $16.00 to $17.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Morgan Stanley set a $12.00 price objective on Portillo's in a report on Monday, April 14th. UBS Group dropped their target price on shares of Portillo's from $15.00 to $12.00 and set a "neutral" rating for the company in a research report on Wednesday. Finally, Robert W. Baird reaffirmed a "neutral" rating and set a $12.00 price target (down from $15.00) on shares of Portillo's in a research report on Monday, April 7th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Portillo's currently has a consensus rating of "Hold" and an average price target of $13.71.

Portillo's Stock Up 7.8 %

NASDAQ PTLO traded up $0.82 during trading hours on Wednesday, reaching $11.29. 3,744,577 shares of the company traded hands, compared to its average volume of 1,420,225. The company has a 50 day moving average of $11.94 and a two-hundred day moving average of $11.90. The stock has a market capitalization of $841.89 million, a PE ratio of 26.87, a PEG ratio of 14.77 and a beta of 1.83. Portillo's Inc. has a 12 month low of $8.38 and a 12 month high of $15.78. 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 (NASDAQ:PTLO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. Portillo's had a return on equity of 5.62% and a net margin of 3.65%. The business had revenue of $176.44 million during the quarter, compared to the consensus estimate of $180.76 million. During the same period last year, the firm earned $0.08 earnings per share. The company's revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities analysts expect that Portillo's Inc. will post 0.35 earnings per share for the current year.

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.