Zurcher Kantonalbank Zurich Cantonalbank Sells 1,925 Shares of Portillo’s Inc. (NASDAQ:PTLO)

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in shares of Portillo’s Inc. (NASDAQ:PTLO) by 18.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,736 shares of the company’s stock after selling 1,925 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Portillo’s were worth $139,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its stake in shares of Portillo’s by 1,493.0% in the fourth quarter. International Assets Investment Management LLC now owns 1,593 shares of the company’s stock valued at $25,000 after acquiring an additional 1,493 shares during the last quarter. Total Clarity Wealth Management Inc. bought a new position in shares of Portillo’s in the fourth quarter valued at approximately $274,000. Perfromance Wealth Partners LLC bought a new position in shares of Portillo’s in the fourth quarter valued at approximately $190,000. Lakewood Asset Management LLC raised its stake in shares of Portillo’s by 80.7% in the fourth quarter. Lakewood Asset Management LLC now owns 50,839 shares of the company’s stock valued at $810,000 after acquiring an additional 22,708 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. raised its stake in shares of Portillo’s by 15.7% in the fourth quarter. Mesirow Financial Investment Management Inc. now owns 18,036 shares of the company’s stock valued at $266,000 after acquiring an additional 2,452 shares during the last quarter. Institutional investors own 98.34% of the company’s stock.

Portillo’s Price Performance

PTLO opened at $10.35 on Thursday. The company has a fifty day moving average price of $12.98 and a two-hundred day moving average price of $14.22. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.32 and a current ratio of 0.40. Portillo’s Inc. has a 52 week low of $10.26 and a 52 week high of $23.99. The firm has a market capitalization of $755.24 million, a PE ratio of 33.39, a P/E/G ratio of 1.56 and a beta of 1.86.

Portillo’s (NASDAQ:PTLO) last released its earnings results on Tuesday, May 7th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Portillo’s had a net margin of 2.71% and a return on equity of 4.79%. The firm had revenue of $165.83 million during the quarter, compared to analyst estimates of $174.90 million. During the same quarter in the previous year, the business earned $0.05 EPS. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, analysts anticipate that Portillo’s Inc. will post 0.4 earnings per share for the current year.

Wall Street Analyst Weigh In

PTLO has been the subject of a number of research analyst reports. Morgan Stanley cut their target price on shares of Portillo’s from $17.00 to $16.00 and set an “equal weight” rating for the company in a research note on Friday, April 12th. Stephens reissued an “overweight” rating and issued a $20.00 price target on shares of Portillo’s in a report on Tuesday. Robert W. Baird lowered their price target on shares of Portillo’s from $17.00 to $15.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, UBS Group lowered their price target on shares of Portillo’s from $18.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $18.17.

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.