Janney Montgomery Scott LLC increased its holdings in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 61.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,285 shares of the company's stock after buying an additional 11,167 shares during the period. Janney Montgomery Scott LLC's holdings in Pilgrim's Pride were worth $1,349,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of PPC. Vanguard Group Inc. increased its holdings in shares of Pilgrim's Pride by 3.3% in the first quarter. Vanguard Group Inc. now owns 4,233,961 shares of the company's stock worth $145,310,000 after purchasing an additional 136,970 shares during the period. AQR Capital Management LLC grew its holdings in shares of Pilgrim's Pride by 366.1% during the second quarter. AQR Capital Management LLC now owns 638,825 shares of the company's stock worth $24,320,000 after purchasing an additional 501,776 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Pilgrim's Pride by 16.7% during the second quarter. Renaissance Technologies LLC now owns 635,240 shares of the company's stock worth $24,450,000 after purchasing an additional 91,127 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Pilgrim's Pride by 88.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 433,891 shares of the company's stock valued at $19,981,000 after purchasing an additional 203,408 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Pilgrim's Pride by 15.4% during the second quarter. Bank of New York Mellon Corp now owns 394,286 shares of the company's stock valued at $15,176,000 after purchasing an additional 52,667 shares during the last quarter. Institutional investors own 16.64% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on PPC. BMO Capital Markets upped their price objective on Pilgrim's Pride from $42.00 to $43.00 and gave the stock a "market perform" rating in a report on Friday, November 1st. Argus increased their price target on shares of Pilgrim's Pride from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Wednesday, August 28th. Bank of America lowered 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. Barclays increased their target price on shares of Pilgrim's Pride from $45.00 to $49.00 and gave the company an "equal weight" rating in a report on Friday, November 1st. Finally, Stephens initiated coverage on shares of Pilgrim's Pride in a research note on Thursday, October 3rd. They issued an "equal weight" rating and a $43.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $45.50.
Read Our Latest Report on Pilgrim's Pride
Pilgrim's Pride Stock Up 2.0 %
Pilgrim's Pride stock traded up $1.01 during trading hours on Friday, hitting $51.34. 1,154,875 shares of the stock traded hands, compared to its average volume of 905,821. Pilgrim's Pride Co. has a one year low of $25.23 and a one year high of $55.50. The firm's 50-day moving average price is $46.32 and its two-hundred day moving average price is $41.82. The company has a current ratio of 1.95, a quick ratio of 1.27 and a debt-to-equity ratio of 0.75. The company has a market cap of $12.17 billion, a PE ratio of 12.40, a PEG ratio of 0.22 and a beta of 0.81.
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, beating analysts' consensus estimates of $1.27 by $0.36. Pilgrim's Pride had a net margin of 5.46% and a return on equity of 29.92%. The business had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.69 billion. During the same quarter last year, the firm earned $0.58 earnings per share. The business's revenue for the quarter was up 5.2% on a year-over-year basis. On average, research analysts forecast that Pilgrim's Pride Co. will post 4.91 EPS for the current year.
About Pilgrim's Pride
(
Free Report)
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.
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