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

Portillo’s Inc. (NASDAQ:PTLOGet Free Report) Director Berkshire Partners Llc sold 10,000,000 shares of the firm’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $12.23, for a total value of $122,300,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Portillo’s Price Performance

Portillo’s stock opened at $11.72 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.31 and a current ratio of 0.38. Portillo’s Inc. has a 52 week low of $8.38 and a 52 week high of $15.78. The stock has a market capitalization of $874.35 million, a P/E ratio of 27.90, a price-to-earnings-growth ratio of 14.77 and a beta of 1.83. The stock has a fifty day moving average of $11.60 and a 200-day moving average of $11.84.

Portillo’s (NASDAQ:PTLOGet Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. Portillo’s had a return on equity of 5.62% and a net margin of 3.65%. The company had revenue of $176.44 million during the quarter, compared to analysts’ expectations of $180.76 million. During the same quarter in the previous year, the firm earned $0.08 EPS. Portillo’s’s revenue was up 6.4% on a year-over-year basis. On average, sell-side analysts expect that Portillo’s Inc. will post 0.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Portillo’s

A number of institutional investors have recently modified their holdings of PTLO. Alliancebernstein L.P. increased its holdings in Portillo’s by 10,963.2% in the 1st quarter. Alliancebernstein L.P. now owns 4,947,461 shares of the company’s stock worth $58,825,000 after purchasing an additional 4,902,741 shares in the last quarter. Fred Alger Management LLC acquired a new position in Portillo’s in the 1st quarter worth about $17,489,000. Ameriprise Financial Inc. increased its holdings in Portillo’s by 53.6% in the 1st quarter. Ameriprise Financial Inc. now owns 3,413,669 shares of the company’s stock worth $40,590,000 after purchasing an additional 1,191,443 shares in the last quarter. Select Equity Group L.P. increased its holdings in Portillo’s by 675.1% in the 1st quarter. Select Equity Group L.P. now owns 1,070,774 shares of the company’s stock worth $12,732,000 after purchasing an additional 932,624 shares in the last quarter. Finally, Hodges Capital Management Inc. increased its holdings in Portillo’s by 80.5% in the 4th quarter. Hodges Capital Management Inc. now owns 1,652,937 shares of the company’s stock worth $15,537,000 after purchasing an additional 737,049 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PTLO shares. Piper Sandler lowered their price objective on Portillo’s from $17.00 to $13.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 7th. Stifel Nicolaus raised their price objective on Portillo’s from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Stephens restated an “equal weight” rating and set a $13.00 price objective on shares of Portillo’s in a research note on Wednesday, May 7th. Baird R W lowered Portillo’s from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th. Finally, Morgan Stanley set a $12.00 price objective on Portillo’s in a research note on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.71.

Check Out Our Latest Stock Report on PTLO

About Portillo’s

(Get Free Report)

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.

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