Engaged Capital LLC Has $82.37 Million Holdings in Portillo’s Inc. (NASDAQ:PTLO)

Engaged Capital LLC boosted its stake in shares of Portillo’s Inc. (NASDAQ:PTLO) by 121.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,114,956 shares of the company’s stock after buying an additional 3,354,513 shares during the period. Portillo’s makes up about 13.4% of Engaged Capital LLC’s investment portfolio, making the stock its 5th largest holding. Engaged Capital LLC owned 8.38% of Portillo’s worth $82,368,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Portillo’s by 14.9% in the 1st 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. Price T Rowe Associates Inc. MD increased its holdings in shares of Portillo’s by 17.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,963 shares of the company’s stock worth $184,000 after purchasing an additional 1,917 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Portillo’s by 10.4% in the 1st quarter. California State Teachers Retirement System now owns 54,329 shares of the company’s stock worth $770,000 after purchasing an additional 5,120 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its holdings in shares of Portillo’s by 7.4% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 22,592 shares of the company’s stock worth $220,000 after purchasing an additional 1,555 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of Portillo’s by 283.0% in the 2nd quarter. Fifth Third Bancorp now owns 13,100 shares of the company’s stock worth $127,000 after purchasing an additional 9,680 shares in the last quarter. Institutional investors own 98.34% of the company’s stock.

Portillo’s Trading Up 1.7 %

Shares of PTLO stock opened at $11.44 on Friday. Portillo’s Inc. has a 12-month low of $8.66 and a 12-month high of $16.92. The company has a current ratio of 0.38, a quick ratio of 0.31 and a debt-to-equity ratio of 0.58. The stock’s 50-day moving average price is $12.44 and its 200-day moving average price is $11.24. The stock has a market capitalization of $848.71 million, a price-to-earnings ratio of 27.23, a price-to-earnings-growth ratio of 13.55 and a beta of 1.78.

Portillo’s (NASDAQ:PTLO) last issued its earnings results on Tuesday, November 5th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. Portillo’s had a return on equity of 5.62% and a net margin of 3.65%. The firm had revenue of $178.25 million for the quarter, compared to analysts’ expectations of $182.07 million. During the same period in the previous year, the firm posted $0.07 earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. Equities research analysts predict that Portillo’s Inc. will post 0.29 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on PTLO. Stifel Nicolaus downgraded Portillo’s from a “buy” rating to a “hold” rating and set a $13.00 price target on the stock. in a research note on Wednesday, November 6th. UBS Group lifted their target price on Portillo’s from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Wednesday, November 6th. Finally, Stephens reiterated an “equal weight” rating and set a $13.00 target price on shares of Portillo’s in a research report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $14.00.

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.