Thrivent Financial for Lutherans Decreases Holdings in Pilgrim's Pride Co. (NASDAQ:PPC)

Thrivent Financial for Lutherans decreased its stake in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 48.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 927,996 shares of the company's stock after selling 884,103 shares during the quarter. Thrivent Financial for Lutherans owned 0.39% of Pilgrim's Pride worth $42,734,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PPC. CIBC Asset Management Inc increased its stake in Pilgrim's Pride by 3.3% in the third quarter. CIBC Asset Management Inc now owns 6,836 shares of the company's stock valued at $315,000 after purchasing an additional 216 shares in the last quarter. Arizona State Retirement System lifted its position in Pilgrim's Pride by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 13,259 shares of the company's stock valued at $510,000 after acquiring an additional 244 shares in the last quarter. Bayesian Capital Management LP lifted its holdings in shares of 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 purchasing an additional 290 shares in the last quarter. Norden Group LLC raised its position in Pilgrim's Pride by 3.6% in the 2nd quarter. Norden Group LLC now owns 9,290 shares of the company's stock valued at $358,000 after buying an additional 322 shares during the last quarter. Finally, CWM LLC grew its position in Pilgrim's Pride by 19.1% in the third quarter. CWM LLC now owns 2,086 shares of the company's stock valued at $96,000 after purchasing an additional 334 shares in the last quarter. Institutional investors own 16.64% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PPC shares. BMO Capital Markets raised their price objective on shares of 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. Bank of America cut 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 assumed coverage on Pilgrim's Pride in a research note on Thursday, October 3rd. They issued an "equal weight" rating and a $43.00 price objective on the stock. Barclays boosted their price objective on 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. Finally, Argus lifted 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 investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $45.50.

Pilgrim's Pride Stock Up 1.1 %

Shares of NASDAQ PPC traded up $0.58 during trading on Tuesday, reaching $52.28. The company had a trading volume of 296,805 shares, compared to its average volume of 902,048. Pilgrim's Pride Co. has a 12-month low of $25.23 and a 12-month high of $55.50. The business's 50-day moving average is $46.45 and its 200 day moving average is $42.01. The company has a quick ratio of 1.27, a current ratio of 1.95 and a debt-to-equity ratio of 0.75. The stock has a market cap of $12.40 billion, a PE ratio of 12.49, a P/E/G ratio of 0.22 and a beta of 0.81.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $1.63 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.69 billion. During the same quarter in the previous year, the firm earned $0.58 earnings per share. The company's quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts forecast that Pilgrim's Pride Co. will post 4.91 earnings per share for the current fiscal year.

Pilgrim's Pride 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.