Portillo’s Inc. (NASDAQ:PTLO) Shares Bought by Fifth Third Bancorp

Fifth Third Bancorp grew its position in Portillo’s Inc. (NASDAQ:PTLO) by 229.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,100 shares of the company’s stock after buying an additional 30,000 shares during the quarter. Fifth Third Bancorp owned 0.06% of Portillo’s worth $405,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PTLO. Principal Financial Group Inc. grew its position in Portillo’s by 10.9% in the 3rd 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. Engaged Capital LLC grew its holdings in shares of Portillo’s by 121.5% in the third quarter. Engaged Capital LLC now owns 6,114,956 shares of the company’s stock valued at $82,368,000 after purchasing an additional 3,354,513 shares in the last quarter. Barclays PLC increased its stake in Portillo’s by 55.6% during the 3rd quarter. Barclays PLC now owns 117,430 shares of the company’s stock worth $1,581,000 after buying an additional 41,944 shares during the period. Hodges Capital Management Inc. acquired a new stake in Portillo’s during the 3rd quarter worth approximately $12,337,000. Finally, Rice Hall James & Associates LLC boosted its position in Portillo’s by 51.2% in the 3rd quarter. Rice Hall James & Associates LLC now owns 207,945 shares of the company’s stock valued at $2,801,000 after buying an additional 70,409 shares during the period. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Portillo’s Stock Performance

Shares of PTLO opened at $13.94 on Friday. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 33.19, a price-to-earnings-growth ratio of 12.23 and a beta of 1.72. Portillo’s Inc. has a 52-week low of $8.38 and a 52-week high of $16.17. The company has a quick ratio of 0.31, a current ratio of 0.38 and a debt-to-equity ratio of 0.58. The stock has a 50 day moving average price of $10.57 and a 200 day moving average price of $11.42.

Portillo’s (NASDAQ:PTLO) last posted its earnings results on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. Portillo’s had a net margin of 3.65% and a return on equity of 5.62%. The firm had revenue of $178.25 million for the quarter, compared to the consensus estimate of $182.07 million. During the same period last year, the firm posted $0.07 EPS. The company’s revenue was up 6.9% on a year-over-year basis. Research analysts predict that Portillo’s Inc. will post 0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PTLO shares. Morgan Stanley cut their price objective on Portillo’s from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Stifel Nicolaus raised Portillo’s from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $13.00 to $16.00 in a research report on Monday. Stephens reaffirmed an “equal weight” rating and issued a $13.00 target price on shares of Portillo’s in a report on Wednesday, November 6th. Finally, UBS Group lowered their price target on shares of Portillo’s from $14.00 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Three 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, Portillo’s currently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

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.