Granahan Investment Management LLC Trims Holdings in Portillo’s Inc. (NASDAQ:PTLO)

Granahan Investment Management LLC reduced its holdings in shares of Portillo’s Inc. (NASDAQ:PTLO) by 66.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 372,745 shares of the company’s stock after selling 739,427 shares during the period. Granahan Investment Management LLC owned 0.50% of Portillo’s worth $3,504,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of PTLO. First Dallas Securities Inc. increased its position in Portillo’s by 94.4% during the 4th quarter. First Dallas Securities Inc. now owns 43,250 shares of the company’s stock valued at $407,000 after buying an additional 21,000 shares in the last quarter. Fifth Third Bancorp boosted its stake in Portillo’s by 229.0% in the 4th quarter. Fifth Third Bancorp now owns 43,100 shares of the company’s stock worth $405,000 after purchasing an additional 30,000 shares in the last quarter. Principal Financial Group Inc. grew its position in Portillo’s by 10.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,788,113 shares of the company’s stock valued at $24,086,000 after purchasing an additional 175,999 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Portillo’s during the 4th quarter valued at about $1,331,000. Finally, CenterStar Asset Management LLC raised its holdings in Portillo’s by 348.4% in the fourth quarter. CenterStar Asset Management LLC now owns 60,529 shares of the company’s stock worth $568,000 after buying an additional 47,029 shares during the last quarter. Institutional investors own 98.34% of the company’s stock.

Portillo’s Trading Down 1.6 %

Portillo’s stock opened at $11.24 on Friday. The business has a 50-day simple moving average of $11.78 and a two-hundred day simple moving average of $11.88. 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 company has a market cap of $838.54 million, a P/E ratio of 26.76, a P/E/G ratio of 14.77 and a beta of 1.83.

Portillo’s (NASDAQ:PTLO) last announced its earnings results on Tuesday, May 6th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $176.44 million during the quarter, compared to analysts’ expectations of $180.76 million. Portillo’s had a net margin of 3.65% and a return on equity of 5.62%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.08 earnings per share. Analysts predict that Portillo’s Inc. will post 0.35 EPS for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on PTLO. Morgan Stanley set a $12.00 price target on shares of Portillo’s in a research report on Monday, April 14th. Piper Sandler decreased their price target on Portillo’s from $17.00 to $13.00 and set an “overweight” rating for the company in a research note on Wednesday. UBS Group dropped their price objective on Portillo’s from $15.00 to $12.00 and set a “neutral” rating on the stock in a research report on Wednesday. Stephens reissued an “equal weight” rating and issued a $13.00 target price on shares of Portillo’s in a research report on Wednesday. Finally, Baird R W cut shares of Portillo’s from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Portillo’s has an average rating of “Hold” and a consensus target price of $13.71.

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.