Berkshire Partners LLC Has $50.58 Million Position in Portillo's Inc. (NASDAQ:PTLO)

Berkshire Partners LLC lowered its holdings in Portillo's Inc. (NASDAQ:PTLO - Free Report) by 36.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,755,165 shares of the company's stock after selling 2,167,629 shares during the period. Portillo's comprises about 100.0% of Berkshire Partners LLC's portfolio, making the stock its largest holding. Berkshire Partners LLC owned 5.15% of Portillo's worth $50,582,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Portillo's by 14.9% in the first quarter. Vanguard Group Inc. now owns 5,402,242 shares of the company's stock valued at $76,604,000 after purchasing an additional 700,583 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Portillo's by 17.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,963 shares of the company's stock valued at $184,000 after buying an additional 1,917 shares in the last quarter. California State Teachers Retirement System increased its holdings in Portillo's by 10.4% during the first quarter. California State Teachers Retirement System now owns 54,329 shares of the company's stock worth $770,000 after buying an additional 5,120 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its position in Portillo's by 7.4% during the second quarter. Mesirow Financial Investment Management Inc. now owns 22,592 shares of the company's stock worth $220,000 after acquiring an additional 1,555 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in Portillo's by 283.0% in the second quarter. Fifth Third Bancorp now owns 13,100 shares of the company's stock valued at $127,000 after acquiring an additional 9,680 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Portillo's Stock Performance

PTLO stock traded up $0.12 during mid-day trading on Friday, hitting $11.55. 773,016 shares of the company were exchanged, compared to its average volume of 1,058,617. Portillo's Inc. has a 1-year low of $8.66 and a 1-year high of $16.92. The stock has a market capitalization of $857.24 million, a PE ratio of 27.50, a price-to-earnings-growth ratio of 13.55 and a beta of 1.78. The business has a 50 day simple moving average of $12.40 and a 200-day simple moving average of $11.25. The company has a current ratio of 0.38, a quick ratio of 0.31 and a debt-to-equity ratio of 0.58.

Portillo's (NASDAQ:PTLO - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, beating 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 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 period in the previous year, the company posted $0.07 EPS. On average, equities analysts forecast that Portillo's Inc. will post 0.29 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PTLO. Stifel Nicolaus cut shares of Portillo's from a "buy" rating to a "hold" rating and set a $13.00 target price on the stock. in a report on Wednesday, November 6th. UBS Group boosted their price target on Portillo's from $13.00 to $14.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 6th. Finally, Stephens reaffirmed an "equal weight" rating and issued a $13.00 price objective on shares of Portillo's in a research report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $14.00.

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.