Hodges Capital Management Inc. Purchases New Shares in Portillo's Inc. (NASDAQ:PTLO)

Hodges Capital Management Inc. acquired a new position in Portillo's Inc. (NASDAQ:PTLO - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 915,888 shares of the company's stock, valued at approximately $12,337,000. Hodges Capital Management Inc. owned approximately 1.26% of Portillo's as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Engaged Capital LLC increased its stake in shares of Portillo's by 121.5% during the 3rd quarter. Engaged Capital LLC now owns 6,114,956 shares of the company's stock worth $82,368,000 after purchasing an additional 3,354,513 shares in the last quarter. Principal Financial Group Inc. increased its position in Portillo's by 10.9% during the third quarter. Principal Financial Group Inc. now owns 1,788,113 shares of the company's stock worth $24,086,000 after buying an additional 175,999 shares in the last quarter. Emerald Advisers LLC raised its holdings in shares of Portillo's by 29.4% in the third quarter. Emerald Advisers LLC now owns 1,272,214 shares of the company's stock worth $17,137,000 after acquiring an additional 288,675 shares during the last quarter. State Street Corp raised its holdings in shares of Portillo's by 1.6% in the third quarter. State Street Corp now owns 1,085,786 shares of the company's stock worth $14,626,000 after acquiring an additional 17,306 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust lifted its position in shares of Portillo's by 11.8% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 899,461 shares of the company's stock valued at $12,116,000 after acquiring an additional 94,817 shares in the last quarter. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Portillo's Trading Up 0.4 %

Shares of NASDAQ PTLO traded up $0.04 on Friday, reaching $10.49. 1,043,372 shares of the company traded hands, compared to its average volume of 1,267,588. The company has a current ratio of 0.38, a quick ratio of 0.31 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $12.16 and a 200 day moving average of $11.27. The stock has a market capitalization of $778.57 million, a PE ratio of 24.98, a P/E/G ratio of 12.24 and a beta of 1.68. Portillo's Inc. has a fifty-two week low of $8.66 and a fifty-two week high of $16.92.

Portillo's (NASDAQ:PTLO - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. The business had revenue of $178.25 million during the quarter, compared to the consensus estimate of $182.07 million. Portillo's had a net margin of 3.65% and a return on equity of 5.62%. The company's quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 earnings per share. On average, equities research analysts forecast that Portillo's Inc. will post 0.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Stephens reissued an "equal weight" rating and issued a $13.00 target price on shares of Portillo's in a research note on Wednesday, November 6th. UBS Group lifted their price target on shares of Portillo's from $13.00 to $14.00 and gave the stock a "neutral" rating in a report on Wednesday, November 6th. Finally, Stifel Nicolaus downgraded shares of Portillo's from a "buy" rating to a "hold" rating and set a $13.00 price objective on the stock. in a research note on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Portillo's presently has a consensus rating of "Hold" and a consensus target price of $14.00.

Portillo's Company 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.