Hodges Capital Management Inc. Buys New Position in Portillo’s Inc. (NASDAQ:PTLO)

Hodges Capital Management Inc. purchased a new stake in Portillo’s Inc. (NASDAQ:PTLO) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 915,888 shares of the company’s stock, valued at approximately $12,337,000.

Several other large investors have also bought and sold shares of the stock. Engaged Capital LLC grew its stake in shares of Portillo’s by 121.5% in the 3rd quarter. Engaged Capital LLC now owns 6,114,956 shares of the company’s stock worth $82,368,000 after acquiring an additional 3,354,513 shares in the last quarter. Squarepoint Ops LLC grew its position in Portillo’s by 307.9% in the 2nd quarter. Squarepoint Ops LLC now owns 522,580 shares of the company’s stock worth $5,079,000 after purchasing an additional 394,479 shares in the last quarter. Millennium Management LLC increased its stake in Portillo’s by 499.4% in the 2nd quarter. Millennium Management LLC now owns 392,167 shares of the company’s stock valued at $3,812,000 after buying an additional 326,743 shares during the last quarter. Emerald Advisers LLC lifted its position in shares of Portillo’s by 29.4% during the 3rd quarter. Emerald Advisers LLC now owns 1,272,214 shares of the company’s stock worth $17,137,000 after buying an additional 288,675 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Portillo’s during the 3rd quarter worth approximately $3,165,000. 98.34% of the stock is currently owned by institutional investors.

Portillo’s Trading Up 0.4 %

Shares of Portillo’s stock opened at $10.49 on Friday. The stock has a market capitalization of $778.57 million, a P/E ratio of 24.98, a P/E/G ratio of 12.24 and a beta of 1.68. Portillo’s Inc. has a 52-week low of $8.66 and a 52-week high of $16.92. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.31 and a current ratio of 0.38. The stock’s 50-day simple moving average is $12.16 and its 200 day simple moving average is $11.26.

Portillo’s (NASDAQ:PTLO) last announced its quarterly 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. The company had revenue of $178.25 million for the quarter, compared to analysts’ expectations of $182.07 million. Portillo’s had a net margin of 3.65% and a return on equity of 5.62%. Portillo’s’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 EPS. As a group, research analysts anticipate that Portillo’s Inc. will post 0.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Stephens reaffirmed an “equal weight” rating and set a $13.00 price target on shares of Portillo’s in a research report on Wednesday, November 6th. Stifel Nicolaus lowered Portillo’s from a “buy” rating to a “hold” rating and set a $13.00 target price for the company. in a research report on Wednesday, November 6th. Finally, UBS Group boosted their price target on shares of Portillo’s from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Portillo’s currently has a consensus rating of “Hold” and an average 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.