Stoneridge Investment Partners LLC Acquires 2,396 Shares of Portillo’s Inc. (NASDAQ:PTLO)

Stoneridge Investment Partners LLC increased its stake in Portillo’s Inc. (NASDAQ:PTLO) by 23.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 12,605 shares of the company’s stock after purchasing an additional 2,396 shares during the quarter. Stoneridge Investment Partners LLC’s holdings in Portillo’s were worth $118,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. First Dallas Securities Inc. grew its stake in shares of 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 acquiring an additional 21,000 shares during the period. Fifth Third Bancorp lifted its holdings in Portillo’s by 229.0% during the fourth quarter. Fifth Third Bancorp now owns 43,100 shares of the company’s stock valued at $405,000 after purchasing an additional 30,000 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Portillo’s by 10.9% in the third quarter. Principal Financial Group Inc. now owns 1,788,113 shares of the company’s stock worth $24,086,000 after purchasing an additional 175,999 shares during the period. CenterStar Asset Management LLC increased its stake in shares of 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 purchasing an additional 47,029 shares in the last quarter. Finally, Chicago Partners Investment Group LLC bought a new stake in shares of Portillo’s during the 4th quarter valued at $2,590,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Portillo’s Stock Down 0.8 %

NASDAQ PTLO opened at $14.50 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.38 and a debt-to-equity ratio of 0.58. Portillo’s Inc. has a 52 week low of $8.38 and a 52 week high of $16.17. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 34.52, a PEG ratio of 15.06 and a beta of 1.82. The company has a fifty day moving average of $10.94 and a two-hundred day moving average of $11.61.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PTLO. Stifel Nicolaus upgraded Portillo’s from a “hold” rating to a “buy” rating and increased their target price for the stock from $13.00 to $16.00 in a research report on Monday, January 27th. Stephens reaffirmed an “equal weight” rating and set a $13.00 price objective on shares of Portillo’s in a report on Wednesday, November 6th. Morgan Stanley lowered their target price on shares of Portillo’s from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 21st. Finally, UBS Group cut their target price on shares of Portillo’s from $14.00 to $11.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $14.00.

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.