Millennium Management LLC Grows Stock Position in Portillo's Inc. (NASDAQ:PTLO)

Millennium Management LLC boosted its holdings in shares of Portillo's Inc. (NASDAQ:PTLO - Free Report) by 499.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 392,167 shares of the company's stock after buying an additional 326,743 shares during the quarter. Millennium Management LLC owned 0.54% of Portillo's worth $3,812,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. HighPoint Advisor Group LLC acquired a new stake in Portillo's in the 4th quarter valued at $449,000. WoodTrust Financial Corp raised its holdings in Portillo's by 31.4% in the 1st quarter. WoodTrust Financial Corp now owns 40,400 shares of the company's stock valued at $573,000 after buying an additional 9,650 shares during the period. Wolff Wiese Magana LLC increased its stake in Portillo's by 16.4% during the first quarter. Wolff Wiese Magana LLC now owns 34,333 shares of the company's stock worth $487,000 after purchasing an additional 4,840 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in Portillo's by 241.0% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,812 shares of the company's stock worth $54,000 after purchasing an additional 2,694 shares during the period. Finally, Principal Financial Group Inc. increased its stake in Portillo's by 22.3% during the first quarter. Principal Financial Group Inc. now owns 1,572,648 shares of the company's stock worth $22,300,000 after purchasing an additional 286,618 shares during the period. 98.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Stephens lowered shares of Portillo's from an "overweight" rating to an "equal weight" rating and set a $13.00 price target on the stock. in a research note on Monday, October 7th. Morgan Stanley lowered their price objective on Portillo's from $15.00 to $13.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 16th. Stifel Nicolaus lowered their price objective on Portillo's from $15.00 to $13.00 and set a "buy" rating for the company in a research report on Friday, July 12th. Finally, Bank of America lowered their price objective on Portillo's from $20.00 to $17.00 and set a "buy" rating for the company in a research report on Wednesday, July 17th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $13.86.

Portillo's Stock Down 2.1 %

PTLO traded down $0.26 on Monday, reaching $12.26. The company's stock had a trading volume of 705,622 shares, compared to its average volume of 1,044,530. The stock has a 50 day moving average of $12.18 and a two-hundred day moving average of $11.26. The company has a quick ratio of 0.30, a current ratio of 0.38 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $894.67 million, a price-to-earnings ratio of 30.65, a P/E/G ratio of 15.49 and a beta of 1.78. Portillo's Inc. has a fifty-two week low of $8.66 and a fifty-two week high of $16.98.

Portillo's (NASDAQ:PTLO - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). The firm had revenue of $181.86 million during the quarter, compared to analyst estimates of $184.44 million. Portillo's had a net margin of 3.30% and a return on equity of 5.08%. Portillo's's revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.12 earnings per share. As a group, analysts forecast that Portillo's Inc. will post 0.28 EPS for the current fiscal year.

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.