Engaged Capital LLC Buys 770,443 Shares of Portillo’s Inc. (NASDAQ:PTLO)

Engaged Capital LLC grew its stake in Portillo’s Inc. (NASDAQ:PTLO) by 38.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,760,443 shares of the company’s stock after buying an additional 770,443 shares during the period. Portillo’s accounts for about 4.6% of Engaged Capital LLC’s holdings, making the stock its 10th biggest holding. Engaged Capital LLC owned 3.78% of Portillo’s worth $26,832,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in Portillo’s by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 378,116 shares of the company’s stock worth $6,023,000 after buying an additional 15,722 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Portillo’s by 10.4% in the 1st quarter. California State Teachers Retirement System now owns 54,329 shares of the company’s stock worth $770,000 after acquiring an additional 5,120 shares in the last quarter. Granahan Investment Management LLC raised its position in shares of Portillo’s by 33.8% in the 4th quarter. Granahan Investment Management LLC now owns 1,324,465 shares of the company’s stock worth $21,099,000 after acquiring an additional 334,731 shares in the last quarter. Swiss National Bank lifted its stake in shares of Portillo’s by 17.4% in the 1st quarter. Swiss National Bank now owns 108,400 shares of the company’s stock valued at $1,537,000 after purchasing an additional 16,100 shares during the period. Finally, Entropy Technologies LP bought a new stake in shares of Portillo’s during the 1st quarter valued at about $188,000. Institutional investors and hedge funds own 98.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PTLO shares. Bank of America lowered their target price on Portillo’s from $20.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Morgan Stanley dropped their target price on shares of Portillo’s from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Piper Sandler reduced their price target on shares of Portillo’s from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Stephens reiterated an “overweight” rating and set a $13.00 price objective on shares of Portillo’s in a report on Tuesday, August 6th. Finally, Stifel Nicolaus reduced their target price on Portillo’s from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, July 12th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $15.25.

Portillo’s Stock Down 0.2 %

Portillo’s stock opened at $12.96 on Thursday. The firm has a market capitalization of $945.76 million, a price-to-earnings ratio of 32.40, a price-to-earnings-growth ratio of 16.75 and a beta of 1.77. The firm’s fifty day moving average price is $11.46 and its two-hundred day moving average price is $11.32. Portillo’s Inc. has a 1-year low of $8.66 and a 1-year high of $16.98. The company has a current ratio of 0.38, a quick ratio of 0.30 and a debt-to-equity ratio of 0.60.

Portillo’s (NASDAQ:PTLO) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The company had revenue of $181.86 million for the quarter, compared to analyst estimates of $184.44 million. Portillo’s had a net margin of 3.30% and a return on equity of 5.08%. Portillo’s’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.12 EPS. On average, equities research analysts predict that Portillo’s Inc. will post 0.28 earnings per share for the current fiscal 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.