Ridgewood Investments LLC Buys New Position in Portillo’s Inc. (NASDAQ:PTLO)

Ridgewood Investments LLC bought a new stake in shares of Portillo’s Inc. (NASDAQ:PTLO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,000 shares of the company’s stock, valued at approximately $47,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Point72 DIFC Ltd purchased a new stake in Portillo’s in the second quarter worth $29,000. NBC Securities Inc. grew its stake in Portillo’s by 43.5% in the third quarter. NBC Securities Inc. now owns 3,300 shares of the company’s stock worth $44,000 after purchasing an additional 1,000 shares during the period. AdvisorShares Investments LLC purchased a new stake in Portillo’s in the second quarter worth $52,000. nVerses Capital LLC purchased a new stake in Portillo’s in the third quarter worth $69,000. Finally, Arizona State Retirement System grew its stake in Portillo’s by 24.9% in the second quarter. Arizona State Retirement System now owns 16,354 shares of the company’s stock worth $159,000 after purchasing an additional 3,261 shares during the period. Institutional investors own 98.34% of the company’s stock.

Portillo’s Trading Up 7.9 %

NASDAQ PTLO opened at $9.93 on Friday. Portillo’s Inc. has a 12 month low of $8.38 and a 12 month high of $16.17. The stock has a market cap of $737.02 million, a P/E ratio of 23.64, a P/E/G ratio of 10.96 and a beta of 1.72. The stock’s fifty day moving average price is $10.47 and its 200-day moving average price is $11.14. 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) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.11 EPS for the quarter, beating 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 company had revenue of $178.25 million for the quarter, compared to analysts’ expectations of $182.07 million. During the same period last year, the firm posted $0.07 earnings per share. Portillo’s’s revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts forecast that Portillo’s Inc. will post 0.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PTLO has been the topic of several recent research reports. Stifel Nicolaus cut 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 reduced their price target on Portillo’s from $14.00 to $11.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Stephens reissued an “equal weight” rating and issued a $13.00 target price on shares of Portillo’s in a research note on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Portillo’s has an average rating of “Hold” and a consensus price target of $13.57.

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.