Select Equity Group L.P. Grows Holdings in Portillo’s Inc. (NASDAQ:PTLO)

Select Equity Group L.P. boosted its holdings in shares of Portillo’s Inc. (NASDAQ:PTLO) by 2.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 112,424 shares of the company’s stock after purchasing an additional 2,897 shares during the period. Select Equity Group L.P.’s holdings in Portillo’s were worth $1,093,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Portillo’s by 21.2% during the second quarter. The Manufacturers Life Insurance Company now owns 20,902 shares of the company’s stock worth $203,000 after buying an additional 3,661 shares during the period. Millennium Management LLC lifted its position in Portillo’s by 499.4% during the 2nd quarter. Millennium Management LLC now owns 392,167 shares of the company’s stock worth $3,812,000 after acquiring an additional 326,743 shares during the period. Engaged Capital LLC grew its stake in shares of Portillo’s by 38.7% in the 2nd quarter. Engaged Capital LLC now owns 2,760,443 shares of the company’s stock valued at $26,832,000 after purchasing an additional 770,443 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of Portillo’s by 307.9% in the second quarter. Squarepoint Ops LLC now owns 522,580 shares of the company’s stock valued at $5,079,000 after purchasing an additional 394,479 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in shares of Portillo’s in the second quarter valued at approximately $29,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

Portillo’s Price Performance

Shares of NASDAQ PTLO opened at $13.20 on Friday. The stock has a market capitalization of $963.27 million, a price-to-earnings ratio of 33.00, a price-to-earnings-growth ratio of 16.75 and a beta of 1.77. Portillo’s Inc. has a 52 week low of $8.66 and a 52 week high of $16.98. The firm has a 50-day moving average price of $11.53 and a 200 day moving average price of $11.34. The company has a quick ratio of 0.30, a current ratio of 0.38 and a debt-to-equity ratio of 0.60.

Portillo’s (NASDAQ:PTLO) last posted 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 was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.12 earnings per share. Equities research analysts anticipate that Portillo’s Inc. will post 0.28 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.