Emerald Mutual Fund Advisers Trust Grows Stake in Portillo’s Inc. (NASDAQ:PTLO)

Emerald Mutual Fund Advisers Trust boosted its stake in Portillo’s Inc. (NASDAQ:PTLO) by 2.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 804,644 shares of the company’s stock after buying an additional 20,195 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in Portillo’s were worth $7,821,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Assetmark Inc. grew its holdings in shares of Portillo’s by 28.6% during the fourth quarter. Assetmark Inc. now owns 3,222 shares of the company’s stock worth $51,000 after buying an additional 717 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in Portillo’s by 241.0% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,812 shares of the company’s stock valued at $54,000 after acquiring an additional 2,694 shares in the last quarter. Fifth Third Bancorp raised its holdings in Portillo’s by 283.0% in the 2nd quarter. Fifth Third Bancorp now owns 13,100 shares of the company’s stock valued at $127,000 after acquiring an additional 9,680 shares during the last quarter. Arizona State Retirement System raised its holdings in Portillo’s by 24.9% in the 2nd quarter. Arizona State Retirement System now owns 16,354 shares of the company’s stock valued at $159,000 after acquiring an additional 3,261 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Portillo’s by 17.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,963 shares of the company’s stock worth $184,000 after purchasing an additional 1,917 shares in the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Portillo’s Stock Down 1.8 %

Shares of NASDAQ:PTLO opened at $11.73 on Friday. The company has a market capitalization of $856.00 million, a price-to-earnings ratio of 29.33, a PEG ratio of 15.10 and a beta of 1.77. Portillo’s Inc. has a 12-month low of $8.66 and a 12-month high of $17.34. The business has a 50-day moving average price of $10.59 and a 200 day moving average price of $11.46. The company has a current ratio of 0.38, a quick ratio of 0.30 and a debt-to-equity ratio of 0.60.

Portillo’s (NASDAQ:PTLO) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). Portillo’s had a net margin of 3.30% and a return on equity of 5.08%. The company had revenue of $181.86 million for the quarter, compared to analyst estimates of $184.44 million. During the same quarter in the prior year, the business earned $0.12 earnings per share. Portillo’s’s revenue was up 7.5% on a year-over-year basis. Sell-side analysts expect that Portillo’s Inc. will post 0.28 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PTLO. Piper Sandler cut their price target on Portillo’s from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Stifel Nicolaus cut their target price on Portillo’s from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, July 12th. Bank of America reduced their price target on Portillo’s from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Morgan Stanley dropped 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 report on Tuesday, July 16th. Finally, Stephens reaffirmed an “overweight” rating and set a $13.00 target price on shares of Portillo’s in a research note on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Portillo’s currently has an average rating of “Moderate Buy” and an average price target of $15.25.

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.