JPMorgan Chase & Co. Sells 87,927 Shares of Portillo's Inc. (NASDAQ:PTLO)

JPMorgan Chase & Co. lessened its holdings in Portillo's Inc. (NASDAQ:PTLO - Free Report) by 65.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,914 shares of the company's stock after selling 87,927 shares during the period. JPMorgan Chase & Co. owned about 0.06% of Portillo's worth $632,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PTLO. Engaged Capital LLC raised its holdings in shares of Portillo's by 121.5% in the third quarter. Engaged Capital LLC now owns 6,114,956 shares of the company's stock valued at $82,368,000 after purchasing an additional 3,354,513 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Portillo's by 10.9% during the 3rd 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. Franklin Resources Inc. lifted its position in shares of Portillo's by 2.6% during the 3rd quarter. Franklin Resources Inc. now owns 1,291,846 shares of the company's stock worth $15,838,000 after buying an additional 32,810 shares in the last quarter. Emerald Advisers LLC grew 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 valued at $17,137,000 after acquiring an additional 288,675 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Portillo's by 4.0% during the third quarter. Geode Capital Management LLC now owns 1,270,142 shares of the company's stock worth $17,113,000 after acquiring an additional 49,181 shares during the period. Institutional investors own 98.34% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Stifel Nicolaus upgraded shares of Portillo's from a "hold" rating to a "buy" rating and increased their price target for the company from $13.00 to $16.00 in a research report on Monday. Stephens reissued an "equal weight" rating and set a $13.00 target price on shares of Portillo's in a research report on Wednesday, November 6th. UBS Group lowered their price target on shares of Portillo's from $14.00 to $11.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Finally, Morgan Stanley reduced their price objective on Portillo's from $15.00 to $13.00 and set an "equal weight" rating for the company in a report on Tuesday, January 21st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $14.00.

Portillo's Stock Performance

Shares of NASDAQ:PTLO traded up $1.01 during trading on Tuesday, hitting $14.40. 2,226,514 shares of the company were exchanged, compared to its average volume of 1,882,805. Portillo's Inc. has a 52-week low of $8.38 and a 52-week high of $16.17. The stock has a 50 day moving average of $10.31 and a 200 day moving average of $11.32. 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 company has a market cap of $1.07 billion, a PE ratio of 34.22, a P/E/G ratio of 12.23 and a beta of 1.72.

Portillo's (NASDAQ:PTLO - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.05. The business had revenue of $178.25 million for the quarter, compared to analysts' expectations of $182.07 million. Portillo's had a return on equity of 5.62% and a net margin of 3.65%. The firm's quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 EPS. As a group, equities research analysts predict that Portillo's Inc. will post 0.34 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.