Emerald Mutual Fund Advisers Trust Sells 167,858 Shares of Portillo’s Inc. (NASDAQ:PTLO)

Emerald Mutual Fund Advisers Trust trimmed its holdings in shares of Portillo’s Inc. (NASDAQ:PTLO) by 18.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 731,603 shares of the company’s stock after selling 167,858 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in Portillo’s were worth $6,877,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of Portillo’s by 4.0% during the third quarter. Geode Capital Management LLC now owns 1,270,142 shares of the company’s stock worth $17,113,000 after acquiring an additional 49,181 shares during the period. Barclays PLC boosted its holdings in Portillo’s by 55.6% during the third quarter. Barclays PLC now owns 117,430 shares of the company’s stock worth $1,581,000 after buying an additional 41,944 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Portillo’s by 2.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,291,846 shares of the company’s stock worth $15,838,000 after purchasing an additional 32,810 shares during the last quarter. Principal Financial Group Inc. raised its stake in Portillo’s by 10.9% during the third quarter. Principal Financial Group Inc. now owns 1,788,113 shares of the company’s stock worth $24,086,000 after purchasing an additional 175,999 shares during the period. Finally, Ridgewood Investments LLC acquired a new position in Portillo’s in the fourth quarter valued at about $47,000. 98.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PTLO shares. Stifel Nicolaus raised their price objective on shares of Portillo’s from $16.00 to $17.00 and gave the company a “buy” rating in a report on Friday, February 28th. Morgan Stanley set a $12.00 price target on Portillo’s in a research report on Monday, April 14th. Robert W. Baird restated a “neutral” rating and set a $12.00 target price (down previously from $15.00) on shares of Portillo’s in a research report on Monday, April 7th. Baird R W cut shares of Portillo’s from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 7th. Finally, Stephens raised their price objective on shares of Portillo’s from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Portillo’s currently has an average rating of “Hold” and a consensus target price of $13.71.

Portillo’s Price Performance

Shares of Portillo’s stock opened at $10.49 on Tuesday. The firm has a fifty day moving average price of $12.38 and a two-hundred day moving average price of $11.99. Portillo’s Inc. has a fifty-two week low of $8.38 and a fifty-two week high of $15.78. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.38 and a quick ratio of 0.31. The company has a market cap of $782.59 million, a PE ratio of 24.98, a price-to-earnings-growth ratio of 14.77 and a beta of 1.82.

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

Portillo’s Company 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.