Pilgrim’s Pride Co. (NASDAQ:PPC) Shares Acquired by US Bancorp DE

US Bancorp DE lifted its stake in Pilgrim’s Pride Co. (NASDAQ:PPC) by 193.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,795 shares of the company’s stock after purchasing an additional 1,841 shares during the quarter. US Bancorp DE’s holdings in Pilgrim’s Pride were worth $129,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. SteelPeak Wealth LLC purchased a new position in shares of Pilgrim’s Pride during the third quarter worth $364,000. New York State Teachers Retirement System boosted its holdings in Pilgrim’s Pride by 12.9% during the 3rd quarter. New York State Teachers Retirement System now owns 20,731 shares of the company’s stock valued at $955,000 after acquiring an additional 2,367 shares during the period. Smith Group Asset Management LLC acquired a new position in Pilgrim’s Pride in the 3rd quarter valued at about $519,000. Nisa Investment Advisors LLC increased its stake in Pilgrim’s Pride by 97,511.8% during the third quarter. Nisa Investment Advisors LLC now owns 33,188 shares of the company’s stock worth $1,528,000 after purchasing an additional 33,154 shares during the period. Finally, Highland Capital Management LLC lifted its position in shares of Pilgrim’s Pride by 459.8% during the third quarter. Highland Capital Management LLC now owns 33,244 shares of the company’s stock worth $1,531,000 after purchasing an additional 27,305 shares in the last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PPC. BMO Capital Markets increased their target price 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. Bank of America lowered Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 target price for the company. in a report on Thursday, August 15th. Argus boosted their target price on Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Stephens began coverage on Pilgrim’s Pride in a research report on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price target on the stock. Finally, 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. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $45.50.

Pilgrim’s Pride Stock Up 2.0 %

Shares of NASDAQ PPC opened at $51.34 on Friday. The stock has a market cap of $12.17 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 0.22 and a beta of 0.81. Pilgrim’s Pride Co. has a 52-week low of $25.23 and a 52-week high of $55.50. The business has a 50-day moving average price of $46.32 and a 200 day moving average price of $41.82. The company has a quick ratio of 1.27, a current ratio of 1.95 and a debt-to-equity ratio of 0.75.

Pilgrim’s Pride (NASDAQ:PPC) last announced its earnings results on Wednesday, October 30th. The company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.69 billion. During the same period in the previous year, the company posted $0.58 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Equities research analysts forecast that Pilgrim’s Pride Co. will post 4.91 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.