Franklin Resources Inc. Has $2.49 Million Stake in Pilgrim's Pride Co. (NASDAQ:PPC)

Franklin Resources Inc. grew its holdings in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 325.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,071 shares of the company's stock after acquiring an additional 42,136 shares during the period. Franklin Resources Inc.'s holdings in Pilgrim's Pride were worth $2,485,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Harbor Capital Advisors Inc. acquired a new position in Pilgrim's Pride during the 3rd quarter worth approximately $27,000. ORG Wealth Partners LLC purchased a new stake in shares of Pilgrim's Pride during the third quarter valued at approximately $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Pilgrim's Pride during the second quarter worth $32,000. Raleigh Capital Management Inc. purchased a new position in shares of Pilgrim's Pride in the third quarter valued at $34,000. Finally, Quarry LP raised its position in shares of Pilgrim's Pride by 295.8% in the third quarter. Quarry LP now owns 946 shares of the company's stock valued at $44,000 after purchasing an additional 707 shares during the period. Institutional investors and hedge funds own 16.64% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. BMO Capital Markets upped 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 report on Friday, November 1st. 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 price target for the company. Finally, Barclays lifted their price objective on Pilgrim's Pride from $45.00 to $49.00 and gave the stock an "equal weight" rating in a research note on Friday, November 1st. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $45.50.

Pilgrim's Pride Stock Performance

Shares of PPC traded up $0.30 during trading hours on Friday, reaching $45.92. 1,027,490 shares of the company traded hands, compared to its average volume of 921,857. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.27 and a current ratio of 1.95. The stock's fifty day moving average is $49.69 and its 200 day moving average is $44.60. Pilgrim's Pride Co. has a 1-year low of $26.52 and a 1-year high of $55.50. The stock has a market cap of $10.89 billion, a P/E ratio of 11.09, a price-to-earnings-growth ratio of 0.20 and a beta of 0.82.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $4.58 billion during the quarter, compared to analysts' expectations of $4.69 billion. During the same quarter in the prior year, the firm posted $0.58 EPS. The company's revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts anticipate that Pilgrim's Pride Co. will post 5.12 earnings per share for the current fiscal 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.