Bridgewater Associates LP Sells 28,630 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Bridgewater Associates LP lowered its holdings in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 52.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,076 shares of the company’s stock after selling 28,630 shares during the quarter. Bridgewater Associates LP’s holdings in Pilgrim’s Pride were worth $1,201,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of PPC. Price T Rowe Associates Inc. MD raised its stake in shares of Pilgrim’s Pride by 16.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,225 shares of the company’s stock valued at $317,000 after acquiring an additional 1,270 shares during the period. GAMMA Investing LLC raised its stake in shares of Pilgrim’s Pride by 102.9% in the second quarter. GAMMA Investing LLC now owns 1,410 shares of the company’s stock valued at $54,000 after acquiring an additional 715 shares during the period. CWM LLC raised its stake in shares of Pilgrim’s Pride by 746.4% in the second quarter. CWM LLC now owns 1,752 shares of the company’s stock valued at $67,000 after acquiring an additional 1,545 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Pilgrim’s Pride in the second quarter valued at $1,583,000. Finally, Wedmont Private Capital raised its stake in shares of Pilgrim’s Pride by 2.1% in the second quarter. Wedmont Private Capital now owns 23,761 shares of the company’s stock valued at $905,000 after acquiring an additional 493 shares during the period. Institutional investors own 16.64% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on PPC. BMO Capital Markets raised 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 note 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 price target on the stock. in a research note on Thursday, August 15th. Argus raised their price target on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Barclays raised their price target on shares of 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. Finally, Stephens began coverage on shares of Pilgrim’s Pride in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price target on the stock. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Pilgrim’s Pride presently has an average rating of “Hold” and a consensus price target of $45.50.

Pilgrim’s Pride Stock Up 2.2 %

Shares of Pilgrim’s Pride stock opened at $51.61 on Monday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.95 and a quick ratio of 1.27. Pilgrim’s Pride Co. has a 1 year low of $25.33 and a 1 year high of $55.50. The firm’s 50-day moving average is $48.16 and its two-hundred day moving average is $42.87. The stock has a market cap of $12.24 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 0.22 and a beta of 0.81.

Pilgrim’s Pride (NASDAQ:PPC) 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 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 last year, the business earned $0.58 EPS. The company’s revenue was up 5.2% compared to the same quarter last year. As a group, research analysts expect that Pilgrim’s Pride Co. will post 4.91 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.