LS Investment Advisors LLC bought a new position in Pilgrim’s Pride Co. (NASDAQ:PPC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,388 shares of the company’s stock, valued at approximately $77,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. State Board of Administration of Florida Retirement System grew its stake in shares of Pilgrim’s Pride by 1.0% in the second quarter. State Board of Administration of Florida Retirement System now owns 74,849 shares of the company’s stock worth $1,900,000 after purchasing an additional 772 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its stake in shares of Pilgrim’s Pride by 12.1% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 9,863 shares of the company’s stock worth $220,000 after purchasing an additional 1,063 shares during the last quarter. Destination Wealth Management purchased a new stake in Pilgrim’s Pride in the second quarter worth about $53,000. Hudson Capital Management LLC lifted its holdings in Pilgrim’s Pride by 3.0% in the third quarter. Hudson Capital Management LLC now owns 77,912 shares of the company’s stock worth $2,497,000 after buying an additional 2,287 shares during the period. Finally, Swiss National Bank lifted its holdings in Pilgrim’s Pride by 2.0% in the second quarter. Swiss National Bank now owns 115,800 shares of the company’s stock worth $2,940,000 after buying an additional 2,300 shares during the period. 19.70% of the stock is currently owned by institutional investors.
PPC stock opened at $31.25 on Friday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.94 and a current ratio of 1.82. Pilgrim’s Pride Co. has a 52-week low of $14.83 and a 52-week high of $32.71. The firm has a market capitalization of $7.55 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 0.84 and a beta of 0.76. The firm has a 50 day moving average price of $30.19 and a 200-day moving average price of $28.45.
Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. Pilgrim’s Pride had a net margin of 3.24% and a return on equity of 17.87%. The firm had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the previous year, the firm posted $0.21 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Pilgrim’s Pride Co. will post 1.87 earnings per share for the current fiscal year.
PPC has been the subject of several research analyst reports. Stephens raised their price objective on shares of Pilgrim’s Pride from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. Bank of America initiated coverage on shares of Pilgrim’s Pride in a report on Friday, October 25th. They issued a “neutral” rating and a $32.00 price objective for the company. ValuEngine lowered shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Peel Hunt restated an “add” rating on shares of Pilgrim’s Pride in a report on Monday, October 21st. Finally, FinnCap restated a “corporate” rating on shares of Pilgrim’s Pride in a report on Saturday, November 2nd. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $31.33.
Pilgrim’s Pride Company Profile
Pilgrim's Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products in the United States, the United Kingdom, Europe, and Mexico. The company offers fresh chicken products, including pre-marinated or non-marinated refrigerated (nonfrozen) whole or cut-up chicken; and prepackaged case-ready chicken, such as whole chickens and chicken parts.
Further Reading: Percentage Decliners
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