Raymond James Financial Inc. Makes New Investment in Portillo's Inc. (NASDAQ:PTLO)

Raymond James Financial Inc. purchased a new stake in shares of Portillo's Inc. (NASDAQ:PTLO - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 141,550 shares of the company's stock, valued at approximately $1,331,000. Raymond James Financial Inc. owned 0.19% of Portillo's at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PTLO. Victory Capital Management Inc. raised its stake in shares of Portillo's by 6.1% during the 4th quarter. Victory Capital Management Inc. now owns 83,606 shares of the company's stock worth $786,000 after buying an additional 4,840 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Portillo's by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 462,262 shares of the company's stock worth $4,345,000 after acquiring an additional 3,845 shares during the last quarter. Versor Investments LP purchased a new stake in shares of Portillo's in the fourth quarter valued at about $118,000. Bank of New York Mellon Corp lifted its holdings in shares of Portillo's by 5.9% in the fourth quarter. Bank of New York Mellon Corp now owns 185,025 shares of the company's stock valued at $1,739,000 after purchasing an additional 10,233 shares in the last quarter. Finally, Olympiad Research LP acquired a new stake in shares of Portillo's in the fourth quarter valued at approximately $191,000. Hedge funds and other institutional investors own 98.34% of the company's stock.

Wall Street Analyst Weigh In

PTLO has been the subject of several research reports. UBS Group cut their price objective on Portillo's from $14.00 to $11.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Robert W. Baird reissued a "neutral" rating and issued a $12.00 price target (down from $15.00) on shares of Portillo's in a report on Monday. Morgan Stanley decreased their price objective on Portillo's from $15.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 21st. Stifel Nicolaus boosted their target price on shares of Portillo's from $16.00 to $17.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Finally, Stephens raised their price target on shares of Portillo's from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $13.86.

Portillo's Trading Down 3.7 %

NASDAQ:PTLO traded down $0.42 during mid-day trading on Monday, reaching $10.86. The company's stock had a trading volume of 2,502,249 shares, compared to its average volume of 1,328,706. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.38 and a quick ratio of 0.31. The stock has a market cap of $810.19 million, a P/E ratio of 25.86, a P/E/G ratio of 14.77 and a beta of 1.82. The company's fifty day simple moving average is $13.54 and its two-hundred day simple moving average is $12.18. Portillo's Inc. has a twelve month low of $8.38 and a twelve month high of $15.78.

Portillo's (NASDAQ:PTLO - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.15. Portillo's had a net margin of 3.65% and a return on equity of 5.62%. The business had revenue of $184.61 million for the quarter, compared to analyst estimates of $185.16 million. During the same period in the prior year, the firm posted $0.13 EPS. The company's revenue was down 1.7% on a year-over-year basis. On average, equities analysts predict that Portillo's Inc. will post 0.35 EPS for the current year.

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.