Barclays PLC Has $3.52 Million Stock Holdings in Pilgrim's Pride Co. (NASDAQ:PPC)

Barclays PLC grew its position in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 345.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 76,364 shares of the company's stock after purchasing an additional 59,228 shares during the quarter. Barclays PLC's holdings in Pilgrim's Pride were worth $3,516,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of PPC. MML Investors Services LLC acquired a new stake in Pilgrim's Pride during the third quarter valued at approximately $268,000. Orion Portfolio Solutions LLC bought a new position in shares of Pilgrim's Pride in the third quarter valued at $253,000. XTX Topco Ltd lifted its holdings in shares of Pilgrim's Pride by 128.5% during the third quarter. XTX Topco Ltd now owns 12,751 shares of the company's stock valued at $587,000 after purchasing an additional 7,171 shares during the last quarter. Zacks Investment Management acquired a new position in shares of Pilgrim's Pride in the third quarter worth about $4,989,000. Finally, Kovitz Investment Group Partners LLC boosted its stake in Pilgrim's Pride by 1.0% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 61,311 shares of the company's stock worth $2,820,000 after purchasing an additional 598 shares during the period. Institutional investors own 16.64% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PPC shares. 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 target price for the company. Barclays boosted their target price on Pilgrim's Pride from $45.00 to $49.00 and gave the company an "equal weight" rating in a research note on Friday, November 1st. BMO Capital Markets raised their price target on Pilgrim's Pride from $42.00 to $43.00 and gave the stock a "market perform" rating in a research note on Friday, November 1st. Finally, Argus increased their price objective on Pilgrim's Pride from $50.00 to $55.00 and gave the stock a "buy" rating in a report on Wednesday, August 28th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $45.50.

Pilgrim's Pride Price Performance

Shares of NASDAQ PPC traded down $0.27 during mid-day trading on Monday, hitting $45.89. 1,542,326 shares of the stock were exchanged, compared to its average volume of 923,893. Pilgrim's Pride Co. has a twelve month low of $26.52 and a twelve month high of $55.50. The stock's fifty day simple moving average is $49.63 and its two-hundred day simple moving average is $44.33. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.27 and a current ratio of 1.95. The company has a market cap of $10.88 billion, a P/E ratio of 11.08, a PEG ratio of 0.20 and a beta of 0.82.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.27 by $0.36. The company had revenue of $4.58 billion for the quarter, compared to analysts' expectations of $4.69 billion. Pilgrim's Pride had a return on equity of 29.92% and a net margin of 5.46%. The business's revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.58 earnings per share. As a group, analysts forecast that Pilgrim's Pride Co. will post 5.12 EPS for the current fiscal year.

About Pilgrim's Pride

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.