Allspring Global Investments Holdings LLC Invests $3.17 Million in Portillo's Inc. (NASDAQ:PTLO)

Allspring Global Investments Holdings LLC purchased a new stake in shares of Portillo's Inc. (NASDAQ:PTLO - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 234,968 shares of the company's stock, valued at approximately $3,165,000. Allspring Global Investments Holdings LLC owned 0.32% of Portillo's as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PTLO. Vanguard Group Inc. increased its stake in shares of Portillo's by 14.9% in the first quarter. Vanguard Group Inc. now owns 5,402,242 shares of the company's stock worth $76,604,000 after purchasing an additional 700,583 shares in the last quarter. Engaged Capital LLC increased its stake in Portillo's by 38.7% in the 2nd quarter. Engaged Capital LLC now owns 2,760,443 shares of the company's stock worth $26,832,000 after buying an additional 770,443 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Portillo's by 2.5% during the second quarter. Principal Financial Group Inc. now owns 1,612,114 shares of the company's stock valued at $15,670,000 after acquiring an additional 39,466 shares during the period. Emerald Advisers LLC lifted its position in shares of Portillo's by 4.4% in the second quarter. Emerald Advisers LLC now owns 983,539 shares of the company's stock valued at $9,560,000 after acquiring an additional 41,078 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust lifted its position in shares of Portillo's by 2.6% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 804,644 shares of the company's stock valued at $7,821,000 after acquiring an additional 20,195 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on PTLO. Stifel Nicolaus decreased their target price on Portillo's from $15.00 to $13.00 and set a "buy" rating on the stock in a research note on Friday, July 12th. Bank of America lowered their target price on shares of 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 cut their target price on shares of Portillo's from $15.00 to $13.00 and set an "equal weight" rating for the company in a research note on Tuesday, July 16th. Finally, Stephens downgraded 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 report on Monday, October 7th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $13.86.

Portillo's Price Performance

PTLO traded up $0.07 during trading hours on Wednesday, hitting $13.13. The company's stock had a trading volume of 696,797 shares, compared to its average volume of 1,033,213. Portillo's Inc. has a 12 month low of $8.66 and a 12 month high of $16.98. The company has a current ratio of 0.38, a quick ratio of 0.30 and a debt-to-equity ratio of 0.60. The business's 50-day moving average price is $12.61 and its 200-day moving average price is $11.20. The stock has a market cap of $958.16 million, a price-to-earnings ratio of 34.55, a P/E/G ratio of 16.76 and a beta of 1.78.

Portillo's (NASDAQ:PTLO - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01). The business had revenue of $181.86 million for the quarter, compared to analysts' expectations of $184.44 million. Portillo's had a net margin of 3.30% and a return on equity of 5.08%. The firm's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.12 earnings per share. Sell-side analysts expect that Portillo's Inc. will post 0.27 earnings per share for the current fiscal year.

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.