Kornitzer Capital Management Inc. KS Sells 4,426 Shares of Portillo’s Inc. (NASDAQ:PTLO)

Kornitzer Capital Management Inc. KS lessened its holdings in shares of Portillo’s Inc. (NASDAQ:PTLO) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 710,919 shares of the company’s stock after selling 4,426 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.96% of Portillo’s worth $6,683,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Engaged Capital LLC raised its position in shares of Portillo’s by 121.5% in the third quarter. Engaged Capital LLC now owns 6,114,956 shares of the company’s stock valued at $82,368,000 after purchasing an additional 3,354,513 shares during the period. Principal Financial Group Inc. raised its position in shares of Portillo’s by 10.9% in the third quarter. Principal Financial Group Inc. now owns 1,788,113 shares of the company’s stock valued at $24,086,000 after purchasing an additional 175,999 shares during the period. Hodges Capital Management Inc. raised its position in shares of Portillo’s by 80.5% in the fourth quarter. Hodges Capital Management Inc. now owns 1,652,937 shares of the company’s stock valued at $15,537,000 after purchasing an additional 737,049 shares during the period. Franklin Resources Inc. raised its position in shares of Portillo’s by 2.6% in the third quarter. Franklin Resources Inc. now owns 1,291,846 shares of the company’s stock valued at $15,838,000 after purchasing an additional 32,810 shares during the period. Finally, Emerald Advisers LLC raised its position in shares of Portillo’s by 29.4% in the third quarter. Emerald Advisers LLC now owns 1,272,214 shares of the company’s stock valued at $17,137,000 after purchasing an additional 288,675 shares during the period. Institutional investors own 98.34% of the company’s stock.

Portillo’s Trading Up 0.4 %

Shares of PTLO stock opened at $15.14 on Wednesday. Portillo’s Inc. has a 1 year low of $8.38 and a 1 year high of $16.17. The firm’s fifty day simple moving average is $11.48 and its 200 day simple moving average is $11.86. The firm has a market capitalization of $1.12 billion, a P/E ratio of 36.05, a price-to-earnings-growth ratio of 15.06 and a beta of 1.82. The company has a current ratio of 0.38, a quick ratio of 0.31 and a debt-to-equity ratio of 0.58.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PTLO. UBS Group dropped their price target on shares of Portillo’s from $14.00 to $11.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Stephens reissued an “equal weight” rating and issued a $13.00 price target on shares of Portillo’s in a research report on Wednesday, November 6th. Morgan Stanley dropped their target price on shares of Portillo’s from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Finally, Stifel Nicolaus raised shares of Portillo’s from a “hold” rating to a “buy” rating and boosted their target price for the stock from $13.00 to $16.00 in a research report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $14.00.

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.