Exchange Traded Concepts LLC grew its stake in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 8.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,549 shares of the company's stock after acquiring an additional 9,035 shares during the quarter. Exchange Traded Concepts LLC's holdings in Pilgrim's Pride were worth $5,154,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of PPC. Impact Partnership Wealth LLC acquired a new position in shares of Pilgrim's Pride in the fourth quarter valued at about $216,000. Crossmark Global Holdings Inc. purchased a new stake in Pilgrim's Pride in the fourth quarter valued at approximately $1,210,000. Hennion & Walsh Asset Management Inc. raised its position in Pilgrim's Pride by 34.2% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 7,994 shares of the company's stock worth $363,000 after buying an additional 2,035 shares during the last quarter. Wedmont Private Capital lifted its stake in Pilgrim's Pride by 38.6% during the 4th quarter. Wedmont Private Capital now owns 33,123 shares of the company's stock valued at $1,522,000 after acquiring an additional 9,228 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of Pilgrim's Pride by 132.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 1,344 shares of the company's stock valued at $61,000 after acquiring an additional 765 shares during the last quarter. 16.64% of the stock is owned by hedge funds and other institutional investors.
Pilgrim's Pride Price Performance
Shares of NASDAQ:PPC traded down $1.12 during trading on Friday, reaching $45.57. 1,044,347 shares of the company's stock traded hands, compared to its average volume of 761,774. The company has a quick ratio of 1.27, a current ratio of 1.95 and a debt-to-equity ratio of 0.75. Pilgrim's Pride Co. has a fifty-two week low of $26.52 and a fifty-two week high of $55.50. The company has a 50-day simple moving average of $48.12 and a 200-day simple moving average of $45.82. The firm has a market cap of $10.81 billion, a PE ratio of 11.01, a P/E/G ratio of 0.20 and a beta of 0.84.
Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.27 by $0.36. Pilgrim's Pride had a return on equity of 29.92% and a net margin of 5.46%. The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.69 billion. During the same period last year, the company earned $0.58 earnings per share. Pilgrim's Pride's quarterly revenue was up 5.2% compared to the same quarter last year. As a group, analysts predict that Pilgrim's Pride Co. will post 5.12 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on PPC. Stephens assumed 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 for the company. BMO Capital Markets boosted their price objective on Pilgrim's Pride from $42.00 to $43.00 and gave the company a "market perform" rating in a report on Friday, November 1st. Finally, Barclays raised their target price on Pilgrim's Pride from $45.00 to $49.00 and gave the stock an "equal weight" rating in a report on Friday, November 1st. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $45.50.
View Our Latest Stock Report on PPC
About Pilgrim's Pride
(
Free Report)
Pilgrim's Pride Corp. engages in the production, processing, marketing, and distribution of fresh, frozen and value-added chicken and pork products to retailers, distributors, and foodservice operators. It operates through the following segments: U.S., U.K. and Europe, and Mexico. The company was founded by Lonnie A.
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