First Eagle Investment Management LLC Grows Stock Holdings in Portillo’s Inc. $PTLO

First Eagle Investment Management LLC grew its position in shares of Portillo’s Inc. (NASDAQ:PTLO) by 16.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 577,850 shares of the company’s stock after acquiring an additional 83,500 shares during the quarter. First Eagle Investment Management LLC’s holdings in Portillo’s were worth $6,744,000 at the end of the most recent reporting period.

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

Portillo’s Price Performance

PTLO stock opened at $4.94 on Friday. The firm’s 50-day moving average price is $6.07 and its two-hundred day moving average price is $9.01. Portillo’s Inc. has a 12-month low of $4.73 and a 12-month high of $15.78. The stock has a market capitalization of $372.22 million, a price-to-earnings ratio of 13.72, a PEG ratio of 4.72 and a beta of 1.73. The company has a current ratio of 0.27, a quick ratio of 0.23 and a debt-to-equity ratio of 0.49.

Portillo’s (NASDAQ:PTLO) last posted its earnings results on Tuesday, November 4th. The company reported $0.02 earnings per share 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%. As a group, equities analysts predict that Portillo’s Inc. will post 0.35 earnings per share for the current year.

Analyst Ratings Changes

PTLO has been the subject of a number of research reports. Stephens cut their price objective on shares of Portillo’s from $8.00 to $6.00 and set an “equal weight” rating for the company in a research note on Wednesday. Jefferies Financial Group reissued a “hold” rating and issued a $6.00 price target (down from $10.00) on shares of Portillo’s in a research note on Monday, October 13th. UBS Group cut their price target on shares of Portillo’s from $7.50 to $6.00 and set a “neutral” rating for the company in a research report on Wednesday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Portillo’s in a report on Wednesday, October 8th. Finally, Bank of America reissued a “neutral” rating and issued 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 given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price 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.