Portillo’s Inc. (NASDAQ:PTLO) Director Berkshire Partners Llc Sells 10,000,000 Shares

Portillo’s Inc. (NASDAQ:PTLO) Director Berkshire Partners Llc sold 10,000,000 shares of Portillo’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $12.23, for a total transaction of $122,300,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Portillo’s Price Performance

Portillo’s stock opened at $11.51 on Thursday. The business’s 50-day simple moving average is $11.63 and its 200 day simple moving average is $11.85. 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 market cap of $858.68 million, a price-to-earnings ratio of 27.40, a P/E/G ratio of 14.77 and a beta of 1.83. Portillo’s Inc. has a 12-month low of $8.38 and a 12-month high of $15.78.

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

Hedge Funds Weigh In On Portillo’s

Hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC grew its holdings in Portillo’s by 58.3% during the 1st quarter. CWM LLC now owns 3,194 shares of the company’s stock worth $38,000 after acquiring an additional 1,176 shares during the period. North Star Investment Management Corp. boosted its position in shares of Portillo’s by 137.6% in the 1st quarter. North Star Investment Management Corp. now owns 3,517 shares of the company’s stock worth $42,000 after purchasing an additional 2,037 shares during the last quarter. Hollencrest Capital Management grew its stake in shares of 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 purchasing an additional 2,000 shares during the period. Comerica Bank grew its stake in shares of Portillo’s by 172.6% during the fourth quarter. Comerica Bank now owns 5,395 shares of the company’s stock worth $51,000 after purchasing an additional 3,416 shares during the period. Finally, Fund 1 Investments LLC bought a new stake in Portillo’s in the fourth quarter valued at about $53,000. 98.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PTLO. Stephens reiterated an “equal weight” rating and issued a $13.00 price objective on shares of Portillo’s in a research report on Wednesday, May 7th. Piper Sandler lowered their target price on Portillo’s from $17.00 to $13.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. Morgan Stanley set a $12.00 price target on shares of Portillo’s in a research report on Monday, April 14th. Baird R W lowered shares of Portillo’s from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $12.00 target price (down from $15.00) on shares of Portillo’s in a research note on Monday, April 7th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $13.71.

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.