Portillo’s Inc. (NASDAQ:PTLO) Shares Purchased by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS raised its position in Portillo’s Inc. (NASDAQ:PTLO) by 2.2% in the fourth quarter, Holdings Channel reports. The fund owned 627,555 shares of the company’s stock after buying an additional 13,325 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Portillo’s were worth $9,997,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PTLO. Advisor Group Holdings Inc. increased its holdings in Portillo’s by 1.4% in the fourth quarter. Advisor Group Holdings Inc. now owns 35,782 shares of the company’s stock valued at $585,000 after buying an additional 504 shares during the last quarter. LPL Financial LLC raised its position in shares of Portillo’s by 0.8% during the 1st quarter. LPL Financial LLC now owns 65,765 shares of the company’s stock worth $1,405,000 after acquiring an additional 552 shares in the last quarter. Bank of America Corp DE boosted its holdings in Portillo’s by 0.9% in the first quarter. Bank of America Corp DE now owns 77,017 shares of the company’s stock valued at $1,646,000 after purchasing an additional 659 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Portillo’s by 8.8% in the third quarter. Envestnet Asset Management Inc. now owns 10,197 shares of the company’s stock valued at $157,000 after purchasing an additional 828 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in Portillo’s by 18.9% in the third quarter. Royal Bank of Canada now owns 5,374 shares of the company’s stock valued at $106,000 after purchasing an additional 853 shares during the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Portillo’s Stock Performance

Portillo’s stock traded up $0.37 during midday trading on Friday, hitting $12.11. 1,174,869 shares of the company’s stock were exchanged, compared to its average volume of 914,214. The firm’s 50 day simple moving average is $13.53 and its 200 day simple moving average is $14.51. Portillo’s Inc. has a 12-month low of $11.53 and a 12-month high of $23.99. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.32 and a current ratio of 0.40. The stock has a market cap of $883.67 million, a price-to-earnings ratio of 39.06, a price-to-earnings-growth ratio of 1.46 and a beta of 1.85.

Portillo’s (NASDAQ:PTLO) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.08. The firm had revenue of $187.86 million for the quarter, compared to analysts’ expectations of $184.95 million. Portillo’s had a return on equity of 4.79% and a net margin of 2.71%. The firm’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 EPS. Equities research analysts predict that Portillo’s Inc. will post 0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PTLO shares. Stephens started coverage on shares of Portillo’s in a report on Friday, April 12th. They issued an “overweight” rating and a $20.00 target price for the company. Morgan Stanley reduced their price target on shares of Portillo’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research report on Friday, April 12th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.43.

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.