Fifth Third Bancorp Has $405,000 Stake in Portillo's Inc. (NASDAQ:PTLO)

Fifth Third Bancorp grew its stake in shares of Portillo's Inc. (NASDAQ:PTLO - Free Report) by 229.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 43,100 shares of the company's stock after buying an additional 30,000 shares during the period. Fifth Third Bancorp owned approximately 0.06% of Portillo's worth $405,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PTLO. Engaged Capital LLC grew its stake in shares of Portillo's by 121.5% in the 3rd 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 period. Principal Financial Group Inc. grew its position in Portillo's by 10.9% in the third quarter. Principal Financial Group Inc. now owns 1,788,113 shares of the company's stock valued at $24,086,000 after acquiring an additional 175,999 shares during the period. Franklin Resources Inc. raised its stake in Portillo's by 2.6% during the third quarter. Franklin Resources Inc. now owns 1,291,846 shares of the company's stock worth $15,838,000 after acquiring an additional 32,810 shares in the last quarter. Emerald Advisers LLC lifted its holdings in shares of Portillo's by 29.4% during 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 during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Portillo's by 4.0% during the third quarter. Geode Capital Management LLC now owns 1,270,142 shares of the company's stock valued at $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

A number of equities research analysts recently issued reports on PTLO shares. UBS Group dropped their target price on shares of Portillo's from $14.00 to $11.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. Stifel Nicolaus upgraded Portillo's from a "hold" rating to a "buy" rating and increased their target price for the stock from $13.00 to $16.00 in a report on Monday, January 27th. Morgan Stanley decreased their price objective on shares of Portillo's from $15.00 to $13.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 21st. Finally, Stephens reissued an "equal weight" rating and issued a $13.00 price target on shares of Portillo's in a report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $14.00.

Portillo's Trading Down 0.2 %

Shares of Portillo's stock traded down $0.03 during trading on Friday, hitting $13.91. 2,067,539 shares of the company were exchanged, compared to its average volume of 1,734,802. 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 firm has a market capitalization of $1.03 billion, a P/E ratio of 33.12, a price-to-earnings-growth ratio of 14.32 and a beta of 1.72. The firm's fifty day moving average price is $10.63 and its 200 day moving average price is $11.45. Portillo's Inc. has a 1-year low of $8.38 and a 1-year high of $16.17.

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, beating analysts' consensus estimates of $0.06 by $0.05. The firm had revenue of $178.25 million during the quarter, compared to analysts' expectations of $182.07 million. Portillo's had a net margin of 3.65% and a return on equity of 5.62%. The business's revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.07 earnings per share. As a group, sell-side analysts expect that Portillo's Inc. will post 0.35 earnings per share for the current fiscal 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.