First Eagle Investment Management LLC Acquires New Holdings in Portillo’s Inc. (NASDAQ:PTLO)

First Eagle Investment Management LLC acquired a new stake in shares of Portillo’s Inc. (NASDAQ:PTLO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 274,186 shares of the company’s stock, valued at approximately $2,577,000. First Eagle Investment Management LLC owned 0.37% of Portillo’s as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hollencrest Capital Management lifted its position in Portillo’s by 100.0% during the fourth quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock valued at $38,000 after purchasing an additional 2,000 shares during the period. Ridgewood Investments LLC purchased a new stake in Portillo’s during the fourth quarter valued at approximately $47,000. Savant Capital LLC purchased a new stake in Portillo’s during the fourth quarter valued at approximately $96,000. Sonora Investment Management Group LLC purchased a new stake in Portillo’s during the fourth quarter valued at approximately $98,000. Finally, Versor Investments LP purchased a new stake in Portillo’s during the fourth quarter valued at approximately $118,000. Institutional investors own 98.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on PTLO shares. Stifel Nicolaus upped their target price on shares of Portillo’s from $16.00 to $17.00 and gave the company a “buy” rating in a report on Friday, February 28th. Stephens upped their target price on shares of Portillo’s from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Morgan Stanley reduced their price objective on shares of Portillo’s from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Finally, UBS Group reduced their price objective 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, Portillo’s has an average rating of “Moderate Buy” and a consensus target price of $14.29.

Portillo’s Stock Performance

Shares of NASDAQ PTLO opened at $12.32 on Friday. The stock has a market cap of $919.11 million, a PE ratio of 29.33, a price-to-earnings-growth ratio of 14.77 and a beta of 1.80. The firm has a fifty day moving average price of $13.23 and a 200-day moving average price of $12.21. Portillo’s Inc. has a 1 year low of $8.38 and a 1 year high of $15.78. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.38 and a quick ratio of 0.31.

Portillo’s (NASDAQ:PTLO) last posted its earnings results on Tuesday, February 25th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.15. The company had revenue of $184.61 million during the quarter, compared to analysts’ expectations of $185.16 million. Portillo’s had a net margin of 3.65% and a return on equity of 5.62%. Portillo’s’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the company posted $0.13 earnings per share. Equities analysts anticipate that Portillo’s Inc. will post 0.35 earnings per share for the current fiscal year.

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.