Pilgrim's Pride Co. (NASDAQ:PPC) Shares Acquired by Mirabella Financial Services LLP

Mirabella Financial Services LLP grew its stake in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 89.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,559 shares of the company's stock after acquiring an additional 17,260 shares during the quarter. Mirabella Financial Services LLP's holdings in Pilgrim's Pride were worth $1,684,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. CIBC Asset Management Inc grew its position in Pilgrim's Pride by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 6,836 shares of the company's stock worth $315,000 after purchasing an additional 216 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Pilgrim's Pride by 1.9% during the second quarter. Arizona State Retirement System now owns 13,259 shares of the company's stock worth $510,000 after purchasing an additional 244 shares during the period. Bayesian Capital Management LP boosted its position in Pilgrim's Pride by 2.6% in the first quarter. Bayesian Capital Management LP now owns 11,382 shares of the company's stock valued at $391,000 after buying an additional 290 shares during the last quarter. Norden Group LLC increased its holdings in Pilgrim's Pride by 3.6% in the 2nd quarter. Norden Group LLC now owns 9,290 shares of the company's stock worth $358,000 after buying an additional 322 shares during the period. Finally, CWM LLC raised its position in Pilgrim's Pride by 19.1% during the 3rd quarter. CWM LLC now owns 2,086 shares of the company's stock worth $96,000 after buying an additional 334 shares during the last quarter. 16.64% of the stock is owned by institutional investors.

Pilgrim's Pride Trading Down 2.7 %

Shares of NASDAQ PPC traded down $1.40 during trading on Monday, hitting $50.31. 1,152,202 shares of the company were exchanged, compared to its average volume of 901,629. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.27 and a current ratio of 1.95. Pilgrim's Pride Co. has a 12-month low of $25.23 and a 12-month high of $55.50. The company has a fifty day moving average price of $47.47 and a 200-day moving average price of $42.54. The firm has a market capitalization of $11.93 billion, a PE ratio of 12.15, a P/E/G ratio of 0.22 and a beta of 0.81.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.36. The business 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%. 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 company posted $0.58 EPS. As a group, equities research analysts expect that Pilgrim's Pride Co. will post 4.91 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PPC. Stephens started 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. Argus lifted their price objective 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. BMO Capital Markets upped their target price 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. Bank of America cut Pilgrim's Pride from a "buy" rating to a "neutral" rating and set a $47.00 price target for the company. in a research report on Thursday, August 15th. Finally, Barclays boosted their price target on Pilgrim's Pride from $45.00 to $49.00 and gave the company an "equal weight" rating in a report on Friday, November 1st. Five investment 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 data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $45.50.

Pilgrim's Pride Company 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.