Sanctuary Advisors LLC Makes New $1.86 Million Investment in Pilgrim's Pride Co. (NASDAQ:PPC)

Sanctuary Advisors LLC acquired a new position in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 40,386 shares of the company's stock, valued at approximately $1,860,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PPC. Vestcor Inc lifted its holdings in Pilgrim's Pride by 1.1% in the 3rd quarter. Vestcor Inc now owns 19,783 shares of the company's stock worth $911,000 after purchasing an additional 212 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Pilgrim's Pride by 3.3% in the third quarter. CIBC Asset Management Inc now owns 6,836 shares of the company's stock worth $315,000 after buying an additional 216 shares in the last quarter. Arizona State Retirement System boosted its position 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 acquiring an additional 244 shares during the last quarter. Norden Group LLC grew its stake in Pilgrim's Pride by 3.6% during the second quarter. Norden Group LLC now owns 9,290 shares of the company's stock valued at $358,000 after acquiring an additional 322 shares in the last quarter. Finally, CWM LLC increased its holdings in Pilgrim's Pride by 19.1% in the 3rd quarter. CWM LLC now owns 2,086 shares of the company's stock valued at $96,000 after acquiring an additional 334 shares during the last quarter. 16.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays increased their price objective 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. Stephens assumed coverage on 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. BMO Capital Markets lifted their price objective 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. Finally, Argus increased their target price on Pilgrim's Pride from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Wednesday, August 28th. Five 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 stock. According to data from MarketBeat, Pilgrim's Pride currently has an average rating of "Hold" and an average price target of $45.50.

Pilgrim's Pride Trading Down 2.9 %

Shares of NASDAQ:PPC traded down $1.37 during trading on Friday, hitting $46.16. The company had a trading volume of 5,081,047 shares, compared to its average volume of 921,030. The stock has a market cap of $10.95 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 0.20 and a beta of 0.82. 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 company has a fifty day simple moving average of $49.60 and a two-hundred day simple moving average of $44.11. Pilgrim's Pride Co. has a one year low of $26.37 and a one year high of $55.50.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.69 billion. During the same period last year, the company earned $0.58 earnings per share. Pilgrim's Pride's revenue was up 5.2% on a year-over-year basis. As a group, equities analysts forecast that Pilgrim's Pride Co. will post 5.12 earnings per share 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.