Charles Schwab Investment Management Inc. Has $25.66 Million Stake in Pilgrim's Pride Co. (NASDAQ:PPC)

Charles Schwab Investment Management Inc. trimmed its position in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 22.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 557,125 shares of the company's stock after selling 165,002 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.23% of Pilgrim's Pride worth $25,656,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. lifted its stake in Pilgrim's Pride by 1,289.4% in the 3rd quarter. Pacer Advisors Inc. now owns 5,225,216 shares of the company's stock valued at $240,621,000 after purchasing an additional 4,849,147 shares during the last quarter. Assetmark Inc. raised its stake in Pilgrim's Pride by 145,879.0% in the third quarter. Assetmark Inc. now owns 827,701 shares of the company's stock valued at $38,116,000 after buying an additional 827,134 shares during the period. AQR Capital Management LLC lifted its position in shares of Pilgrim's Pride by 366.1% in the second quarter. AQR Capital Management LLC now owns 638,825 shares of the company's stock valued at $24,320,000 after buying an additional 501,776 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Pilgrim's Pride by 16.7% during the 2nd quarter. Renaissance Technologies LLC now owns 635,240 shares of the company's stock worth $24,450,000 after acquiring an additional 91,127 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Pilgrim's Pride by 88.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 433,891 shares of the company's stock worth $19,981,000 after acquiring an additional 203,408 shares during the period. 16.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PPC has been the subject of several recent research reports. BMO Capital Markets boosted their price target on Pilgrim's Pride from $42.00 to $43.00 and gave the company a "market perform" rating in a research note on Friday, November 1st. Barclays raised 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 research report on Friday, November 1st. Bank of America downgraded shares of Pilgrim's Pride from a "buy" rating to a "neutral" rating and set a $47.00 price objective for the company. in a report on Thursday, August 15th. Stephens began coverage on shares of Pilgrim's Pride in a report on Thursday, October 3rd. They set an "equal weight" rating and a $43.00 target price on the stock. Finally, Argus boosted their price target on Pilgrim's Pride from $50.00 to $55.00 and gave the company a "buy" rating in a research note on Wednesday, August 28th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $45.50.

Pilgrim's Pride Trading Down 0.5 %

Shares of PPC traded down $0.24 during mid-day trading on Friday, reaching $50.80. 308,668 shares of the company were exchanged, compared to its average volume of 896,400. The business has a 50 day simple moving average of $48.83 and a two-hundred day simple moving average of $43.21. 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 stock has a market capitalization of $12.05 billion, a PE ratio of 12.33, a PEG ratio of 0.22 and a beta of 0.82. Pilgrim's Pride Co. has a 52 week low of $25.60 and a 52 week high of $55.50.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $1.63 earnings per share for the quarter, topping analysts' consensus estimates of $1.27 by $0.36. The business had revenue of $4.58 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.58 earnings per share. On average, analysts predict that Pilgrim's Pride Co. will post 4.91 earnings per share 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.