Pilgrim's Pride Co. (NASDAQ:PPC) Shares Purchased by Assetmark Inc.

Assetmark Inc. lifted its holdings in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 145,879.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 827,701 shares of the company's stock after buying an additional 827,134 shares during the period. Assetmark Inc. owned about 0.35% of Pilgrim's Pride worth $38,116,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in Pilgrim's Pride in the second quarter valued at about $1,583,000. Quadrature Capital Ltd acquired a new stake in shares of Pilgrim's Pride in the 1st quarter worth about $904,000. ORG Wealth Partners LLC purchased a new stake in shares of Pilgrim's Pride in the third quarter worth approximately $29,000. Edgestream Partners L.P. purchased a new stake in shares of Pilgrim's Pride in the first quarter valued at about $787,000. Finally, Inspire Investing LLC bought a new stake in Pilgrim's Pride during the first quarter worth $934,000. Institutional investors and hedge funds own 16.64% of the company's stock.

Pilgrim's Pride Trading Up 2.8 %

NASDAQ:PPC traded up $1.47 during midday trading on Friday, hitting $53.82. The stock had a trading volume of 661,636 shares, compared to its average volume of 1,083,450. The company has a quick ratio of 1.27, a current ratio of 1.95 and a debt-to-equity ratio of 0.75. The stock has a 50-day moving average of $45.68 and a 200 day moving average of $41.33. The company has a market capitalization of $12.76 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 0.22 and a beta of 0.81. Pilgrim's Pride Co. has a one year low of $25.23 and a one year high of $55.50.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $1.63 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.36. The company had revenue of $4.58 billion during the quarter, compared to analysts' expectations of $4.69 billion. Pilgrim's Pride had a net margin of 5.46% and a return on equity of 29.92%. Pilgrim's Pride's revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the business earned $0.58 EPS. As a group, sell-side analysts forecast that Pilgrim's Pride Co. will post 4.91 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Barclays increased their price target on shares of Pilgrim's Pride from $45.00 to $49.00 and gave the stock an "equal weight" rating in a report on Friday, November 1st. Bank of America cut Pilgrim's Pride from a "buy" rating to a "neutral" rating and set a $47.00 target price for the company. in a report on Thursday, August 15th. Stephens initiated coverage on shares of Pilgrim's Pride in a research note on Thursday, October 3rd. They set an "equal weight" rating and a $43.00 price objective for the company. Argus lifted their price target on shares of Pilgrim's Pride from $50.00 to $55.00 and gave the company a "buy" rating in a report on Wednesday, August 28th. Finally, BMO Capital Markets increased their target price on Pilgrim's Pride from $42.00 to $43.00 and gave the stock a "market perform" rating in a research report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Pilgrim's Pride currently has an average rating of "Hold" and a consensus target price of $45.50.

Pilgrim's Pride Profile

Pilgrim's Pride Corporation produces, processes, markets, and distributes fresh, frozen, and value-added chicken and pork products to retailers, distributors, and foodservice operators. The company offers fresh products, including refrigerated whole or cut-up chicken, selected chicken parts that are either marinated or non-marinated, primary pork cuts, added value pork, and pork ribs; and prepared products, which include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, processed sausages, bacon, smoked meat, gammon joints, pre-packed meats, sandwich and deli counter meats and meat balls.