HighPoint Advisor Group LLC Lowers Stake in Portillo’s Inc. (NASDAQ:PTLO)

HighPoint Advisor Group LLC cut its holdings in shares of Portillo’s Inc. (NASDAQ:PTLO) by 32.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 36,932 shares of the company’s stock after selling 17,477 shares during the period. HighPoint Advisor Group LLC’s holdings in Portillo’s were worth $347,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Hollencrest Capital Management raised its position in Portillo’s by 100.0% during the fourth quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock worth $38,000 after acquiring an additional 2,000 shares during the period. Ridgewood Investments LLC acquired a new position in shares of Portillo’s during the 4th quarter worth about $47,000. KLP Kapitalforvaltning AS purchased a new position in Portillo’s in the 4th quarter valued at about $90,000. Savant Capital LLC acquired a new stake in Portillo’s in the 4th quarter worth about $96,000. Finally, Sonora Investment Management Group LLC purchased a new stake in Portillo’s during the 4th quarter worth approximately $98,000. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Stifel Nicolaus raised their target price on Portillo’s from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Morgan Stanley decreased their price objective on 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 dropped their target price 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. Finally, Stephens raised their price target on shares of Portillo’s from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $14.29.

Portillo’s Stock Down 8.4 %

Shares of PTLO opened at $11.34 on Friday. Portillo’s Inc. has a 52-week low of $8.38 and a 52-week high of $15.78. 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 fifty day simple moving average of $13.62 and a two-hundred day simple moving average of $12.22. The company has a market capitalization of $846.00 million, a PE ratio of 27.00, a price-to-earnings-growth ratio of 14.77 and a beta of 1.80.

Portillo’s (NASDAQ:PTLO) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.15. The firm had revenue of $184.61 million during the quarter, compared to analysts’ expectations of $185.16 million. Portillo’s had a net margin of 3.65% and a return on equity of 5.62%. Portillo’s’s revenue was down 1.7% compared to the same quarter last year. During the same period last year, the business earned $0.13 earnings per share. As a group, equities analysts forecast that Portillo’s Inc. will post 0.35 EPS 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.