Pacer Advisors Inc. Increases Holdings in Pilgrim's Pride Co. (NASDAQ:PPC)

Pacer Advisors Inc. raised its stake in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 1,289.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,225,216 shares of the company's stock after purchasing an additional 4,849,147 shares during the quarter. Pacer Advisors Inc. owned about 2.20% of Pilgrim's Pride worth $240,621,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PPC. Harbor Capital Advisors Inc. purchased a new position in Pilgrim's Pride in the 3rd quarter valued at about $27,000. ORG Wealth Partners LLC bought a new stake in shares of Pilgrim's Pride in the third quarter worth $29,000. ORG Partners LLC bought a new position in Pilgrim's Pride during the 2nd quarter valued at $32,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Pilgrim's Pride in the 2nd quarter worth about $32,000. Finally, Raleigh Capital Management Inc. acquired a new stake in shares of Pilgrim's Pride in the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 16.64% of the company's stock.

Analyst Upgrades and Downgrades

PPC has been the topic of several analyst reports. Barclays raised their target price on Pilgrim's Pride from $45.00 to $49.00 and gave the company an "equal weight" rating in a research report on Friday, November 1st. 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 objective for the company. BMO Capital Markets boosted their price objective on Pilgrim's Pride from $42.00 to $43.00 and gave the stock a "market perform" rating in a research report on Friday, November 1st. Argus upped their price target on Pilgrim's Pride from $50.00 to $55.00 and gave the company a "buy" rating in a report on Wednesday, August 28th. Finally, Bank of America downgraded Pilgrim's Pride from a "buy" rating to a "neutral" rating and set a $47.00 price objective for the company. in a research report on Thursday, August 15th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $45.50.

Pilgrim's Pride Stock Up 0.1 %

Shares of PPC traded up $0.04 during midday trading on Thursday, hitting $52.25. The stock had a trading volume of 576,827 shares, compared to its average volume of 901,764. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.95 and a quick ratio of 1.27. The firm has a market cap of $12.39 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 0.22 and a beta of 0.81. The company has a 50 day simple moving average of $47.05 and a two-hundred day simple moving average of $42.27. Pilgrim's Pride Co. has a twelve month low of $25.23 and a twelve month high of $55.50.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last released 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. 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%. The firm's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.58 earnings per share. On average, analysts anticipate that Pilgrim's Pride Co. will post 4.91 EPS for the current year.

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.