Orion Portfolio Solutions LLC Makes New $253,000 Investment in Pilgrim’s Pride Co. (NASDAQ:PPC)

Orion Portfolio Solutions LLC acquired a new stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) during the third quarter, Holdings Channel reports. The institutional investor acquired 5,504 shares of the company’s stock, valued at approximately $253,000.

Several other hedge funds have also recently made changes to their positions in PPC. Harbor Capital Advisors Inc. purchased a new stake in Pilgrim’s Pride during the 3rd quarter valued at about $27,000. ORG Wealth Partners LLC acquired a new stake in shares of Pilgrim’s Pride during the third quarter worth about $29,000. Raleigh Capital Management Inc. purchased a new stake in Pilgrim’s Pride in the third quarter valued at approximately $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Pilgrim’s Pride in the 2nd quarter worth approximately $32,000. Finally, Quarry LP raised its position in Pilgrim’s Pride by 295.8% during the 3rd quarter. Quarry LP now owns 946 shares of the company’s stock worth $44,000 after buying an additional 707 shares during the last quarter. 16.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on PPC. Stephens began coverage on shares of Pilgrim’s Pride in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price objective on the stock. BMO Capital Markets upped their price target on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Argus lifted their price objective on Pilgrim’s Pride from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Finally, Barclays boosted their price objective on Pilgrim’s Pride from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Pilgrim’s Pride has an average rating of “Hold” and an average price target of $45.50.

Pilgrim’s Pride Stock Down 1.3 %

PPC stock opened at $47.53 on Friday. Pilgrim’s Pride Co. has a one year low of $26.07 and a one year high of $55.50. 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 fifty day moving average is $49.60 and its 200 day moving average is $44.11. The firm has a market cap of $11.27 billion, a PE ratio of 11.48, a P/E/G ratio of 0.20 and a beta of 0.82.

Pilgrim’s Pride (NASDAQ:PPC) last posted 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. The firm had revenue of $4.58 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $0.58 EPS. On average, research analysts forecast that Pilgrim’s Pride Co. will post 5.12 EPS for the current year.

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.