BNP Paribas Financial Markets Purchases 81,727 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

BNP Paribas Financial Markets increased its holdings in Pilgrim’s Pride Co. (NASDAQ:PPC) by 106.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 158,826 shares of the company’s stock after purchasing an additional 81,727 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.07% of Pilgrim’s Pride worth $7,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. raised its holdings in Pilgrim’s Pride by 1,289.4% in the 3rd quarter. Pacer Advisors Inc. now owns 5,225,216 shares of the company’s stock worth $240,621,000 after purchasing an additional 4,849,147 shares in the last quarter. Assetmark Inc. raised its stake in Pilgrim’s Pride by 145,879.0% in the third quarter. Assetmark Inc. now owns 827,701 shares of the company’s stock worth $38,116,000 after buying an additional 827,134 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Pilgrim’s Pride by 366.1% in the second quarter. AQR Capital Management LLC now owns 638,825 shares of the company’s stock worth $24,320,000 after buying an additional 501,776 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Pilgrim’s Pride by 88.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 433,891 shares of the company’s stock valued at $19,981,000 after acquiring an additional 203,408 shares in the last quarter. Finally, United Capital Management of KS Inc. purchased a new position in shares of Pilgrim’s Pride during the 3rd quarter worth approximately $6,277,000. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Trading Down 0.4 %

Shares of NASDAQ PPC opened at $51.40 on Tuesday. The company has a market cap of $12.19 billion, a PE ratio of 12.42, a P/E/G ratio of 0.22 and a beta of 0.81. 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 firm’s 50 day moving average price is $48.16 and its 200-day moving average price is $42.90. Pilgrim’s Pride Co. has a 52-week low of $25.51 and a 52-week high of $55.50.

Pilgrim’s Pride (NASDAQ:PPC) last issued its 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. The business had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.69 billion. Pilgrim’s Pride had a return on equity of 29.92% and a net margin of 5.46%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business posted $0.58 EPS. On average, equities research analysts expect that Pilgrim’s Pride Co. will post 4.91 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on PPC. Bank of America lowered Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price target on the stock. in a research report on Thursday, August 15th. Argus upped their target price on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. BMO Capital Markets increased 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. Barclays upped their price objective on shares of Pilgrim’s Pride from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Finally, Stephens began coverage on shares of Pilgrim’s Pride in a report on Thursday, October 3rd. They set an “equal weight” rating and a $43.00 target price for the company. Five equities 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. Based on data from MarketBeat.com, Pilgrim’s Pride currently has an average rating of “Hold” and a consensus target price of $45.50.

About Pilgrim’s Pride

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.