Hodges Capital Management Inc. Cuts Stock Holdings in Portillo’s Inc. $PTLO

Hodges Capital Management Inc. lessened its position in Portillo’s Inc. (NASDAQ:PTLO) by 15.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 702,637 shares of the company’s stock after selling 126,655 shares during the quarter. Hodges Capital Management Inc.’s holdings in Portillo’s were worth $8,200,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP purchased a new stake in shares of Portillo’s during the second quarter worth approximately $32,000. First Eagle Investment Management LLC lifted its holdings in Portillo’s by 16.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 577,850 shares of the company’s stock valued at $6,744,000 after purchasing an additional 83,500 shares in the last quarter. Bastion Asset Management Inc. acquired a new stake in Portillo’s during the 2nd quarter worth $1,665,000. Versor Investments LP grew its holdings in shares of Portillo’s by 252.9% during the second quarter. Versor Investments LP now owns 52,222 shares of the company’s stock worth $609,000 after buying an additional 37,422 shares in the last quarter. Finally, Pier Capital LLC grew its holdings in shares of Portillo’s by 153.1% during the second quarter. Pier Capital LLC now owns 662,330 shares of the company’s stock worth $7,729,000 after buying an additional 400,644 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PTLO. Jefferies Financial Group reissued a “hold” rating and issued a $6.00 price target (down from $10.00) on shares of Portillo’s in a research note on Monday, October 13th. Bank of America reiterated a “neutral” rating and issued a $7.00 price objective (down previously from $14.00) on shares of Portillo’s in a report on Monday, October 6th. UBS Group lowered their target price on Portillo’s from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. Morgan Stanley set a $9.00 price target on Portillo’s in a research report on Tuesday, October 21st. Finally, Robert W. Baird cut their price target on Portillo’s from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, September 11th. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $9.78.

Portillo’s Price Performance

Shares of PTLO stock opened at $4.94 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.27 and a quick ratio of 0.22. The company has a market capitalization of $372.23 million, a PE ratio of 13.72, a price-to-earnings-growth ratio of 4.89 and a beta of 1.73. The firm’s 50-day moving average is $6.07 and its two-hundred day moving average is $8.98. Portillo’s Inc. has a 12 month low of $4.73 and a 12 month high of $15.78.

Portillo’s (NASDAQ:PTLO) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The firm had revenue of $181.43 million for the quarter, compared to analyst estimates of $179.77 million. Portillo’s had a return on equity of 4.99% and a net margin of 3.35%. Analysts predict that Portillo’s Inc. will post 0.35 earnings per share for the current year.

About Portillo’s

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.