Franklin Resources Inc. Boosts Stake in Portillo’s Inc. (NASDAQ:PTLO)

Franklin Resources Inc. increased its holdings in shares of Portillo’s Inc. (NASDAQ:PTLO) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,291,846 shares of the company’s stock after acquiring an additional 32,810 shares during the period. Franklin Resources Inc. owned approximately 1.74% of Portillo’s worth $15,838,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PTLO. Fifth Third Bancorp boosted its position in shares of Portillo’s by 283.0% during 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. Bank of New York Mellon Corp boosted its holdings in Portillo’s by 28.2% during the second quarter. Bank of New York Mellon Corp now owns 211,870 shares of the company’s stock worth $2,059,000 after buying an additional 46,650 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Portillo’s by 2.5% in the second quarter. Principal Financial Group Inc. now owns 1,612,114 shares of the company’s stock valued at $15,670,000 after buying an additional 39,466 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in Portillo’s in the second quarter valued at about $236,000. Finally, Rhumbline Advisers boosted its stake in shares of Portillo’s by 24.7% during the 2nd quarter. Rhumbline Advisers now owns 75,392 shares of the company’s stock worth $733,000 after acquiring an additional 14,948 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Analysts Set New Price Targets

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

Portillo’s Stock Down 3.6 %

PTLO opened at $8.66 on Friday. The firm has a market cap of $642.76 million, a P/E ratio of 20.62, a PEG ratio of 10.96 and a beta of 1.68. The business’s fifty day simple moving average is $11.51 and its 200 day simple moving average is $11.22. Portillo’s Inc. has a 52 week low of $8.63 and a 52 week high of $16.85. The company has a quick ratio of 0.31, a current ratio of 0.38 and a debt-to-equity ratio of 0.58.

Portillo’s (NASDAQ:PTLO) last released its quarterly 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. The company had revenue of $178.25 million for the quarter, compared to analysts’ expectations of $182.07 million. Portillo’s had a net margin of 3.65% and a return on equity of 5.62%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the company earned $0.07 EPS. As a group, equities research analysts anticipate that Portillo’s Inc. will post 0.3 EPS for the current fiscal year.

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.