Sigma Planning Corp Invests $757,000 in Pilgrim's Pride Co. (NASDAQ:PPC)

Sigma Planning Corp bought a new stake in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,438 shares of the company's stock, valued at approximately $757,000.

Other hedge funds also recently bought and sold shares of the company. Arizona State Retirement System increased its stake in Pilgrim's Pride by 1.9% in the second quarter. Arizona State Retirement System now owns 13,259 shares of the company's stock valued at $510,000 after purchasing an additional 244 shares during the last quarter. Bayesian Capital Management LP increased its stake in shares of Pilgrim's Pride by 2.6% during the 1st quarter. Bayesian Capital Management LP now owns 11,382 shares of the company's stock valued at $391,000 after acquiring an additional 290 shares during the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Pilgrim's Pride by 2.2% during the 1st quarter. Bleakley Financial Group LLC now owns 13,714 shares of the company's stock worth $471,000 after acquiring an additional 301 shares during the period. Norden Group LLC boosted its position in shares of Pilgrim's Pride by 3.6% in the second quarter. Norden Group LLC now owns 9,290 shares of the company's stock worth $358,000 after acquiring an additional 322 shares during the last quarter. Finally, CWM LLC grew its holdings 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 during the period. Hedge funds and other institutional investors own 16.64% of the company's stock.

Pilgrim's Pride Stock Performance

NASDAQ PPC traded down $2.39 during trading hours on Thursday, hitting $50.33. The company had a trading volume of 1,068,982 shares, compared to its average volume of 904,694. 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 firm has a market cap of $11.93 billion, a P/E ratio of 12.12, a price-to-earnings-growth ratio of 0.23 and a beta of 0.81. Pilgrim's Pride Co. has a fifty-two week low of $25.23 and a fifty-two week high of $55.50. The business has a fifty day simple moving average of $46.10 and a 200-day simple moving average of $41.65.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last released its quarterly 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. 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 for the quarter, compared to analysts' expectations of $4.69 billion. During the same quarter in the previous year, the company posted $0.58 earnings per share. The business's revenue for the quarter was up 5.2% compared to the same quarter last year. Equities analysts predict that Pilgrim's Pride Co. will post 4.91 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on PPC. Stephens initiated coverage on Pilgrim's Pride in a research note on Thursday, October 3rd. They set an "equal weight" rating and a $43.00 price target for the company. Argus raised their price target on shares of Pilgrim's Pride from $50.00 to $55.00 and gave the company a "buy" rating in a report on Wednesday, August 28th. Barclays lifted their price target on shares of 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. Bank of America downgraded shares of Pilgrim's Pride from a "buy" rating to a "neutral" rating and set a $47.00 target price on the stock. in a research note on Thursday, August 15th. Finally, BMO Capital Markets upped their price target 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. Five research 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus 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.