Portillo’s Inc. $PTLO is Berkshire Partners LLC’s Largest Position

Berkshire Partners LLC lessened its position in shares of Portillo’s Inc. (NASDAQ:PTLO) by 72.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,045,630 shares of the company’s stock after selling 2,709,535 shares during the quarter. Portillo’s comprises approximately 100.0% of Berkshire Partners LLC’s portfolio, making the stock its largest position. Berkshire Partners LLC’s holdings in Portillo’s were worth $12,203,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Orbis Allan Gray Ltd raised its position in Portillo’s by 4.1% in the first quarter. Orbis Allan Gray Ltd now owns 5,973,638 shares of the company’s stock valued at $71,027,000 after purchasing an additional 234,475 shares during the period. Alliancebernstein L.P. increased its position in shares of Portillo’s by 10,963.2% during the 1st quarter. Alliancebernstein L.P. now owns 4,947,461 shares of the company’s stock worth $58,825,000 after purchasing an additional 4,902,741 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Portillo’s by 53.6% in the 1st quarter. Ameriprise Financial Inc. now owns 3,413,669 shares of the company’s stock valued at $40,590,000 after buying an additional 1,191,443 shares during the period. Blair William & Co. IL lifted its position in Portillo’s by 0.9% in the second quarter. Blair William & Co. IL now owns 1,627,315 shares of the company’s stock valued at $18,991,000 after buying an additional 14,303 shares during the last quarter. Finally, Fred Alger Management LLC purchased a new position in Portillo’s during the first quarter worth about $17,489,000. 98.34% of the stock is currently owned by hedge funds and other institutional investors.

Portillo’s Stock Performance

Shares of Portillo’s stock opened at $4.84 on Monday. The company has a quick ratio of 0.22, a current ratio of 0.27 and a debt-to-equity ratio of 0.49. Portillo’s Inc. has a 52 week low of $4.58 and a 52 week high of $15.78. The firm’s 50 day moving average is $5.45 and its two-hundred day moving average is $8.07. The firm has a market capitalization of $364.84 million, a P/E ratio of 13.44, a P/E/G ratio of 5.25 and a beta of 1.73.

Portillo’s (NASDAQ:PTLO) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The firm had revenue of $181.43 million for the quarter, compared to analysts’ expectations of $179.77 million. Portillo’s had a return on equity of 4.99% and a net margin of 3.35%. Research analysts forecast that Portillo’s Inc. will post 0.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PTLO shares. Weiss Ratings reissued a “sell (d)” rating on shares of Portillo’s in a research note on Thursday. Morgan Stanley set a $9.00 target price on Portillo’s in a research report on Tuesday, October 21st. Jefferies Financial Group restated a “hold” rating and set a $6.00 price target (down from $10.00) on shares of Portillo’s in a research note on Monday, October 13th. Stephens dropped their price objective on Portillo’s from $8.00 to $6.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 5th. Finally, Bank of America reissued a “neutral” rating and set a $7.00 target price (down previously from $14.00) on shares of Portillo’s in a research note on Monday, October 6th. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $9.78.

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.