Los Angeles Capital Management LLC Sells 294 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Los Angeles Capital Management LLC cut its stake in Pilgrim’s Pride Co. (NASDAQ:PPC) by 1.7% in the third quarter, Holdings Channel.com reports. The firm owned 17,234 shares of the company’s stock after selling 294 shares during the period. Los Angeles Capital Management LLC’s holdings in Pilgrim’s Pride were worth $794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Sigma Planning Corp acquired a new position in shares of Pilgrim’s Pride during the third quarter valued at about $757,000. Assetmark Inc. increased its stake in Pilgrim’s Pride by 145,879.0% during the third quarter. Assetmark Inc. now owns 827,701 shares of the company’s stock valued at $38,116,000 after acquiring an additional 827,134 shares during the period. TFB Advisors LLC acquired a new position in Pilgrim’s Pride in the 3rd quarter valued at approximately $298,000. Robeco Institutional Asset Management B.V. lifted its position in shares of Pilgrim’s Pride by 28.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 87,070 shares of the company’s stock worth $4,010,000 after acquiring an additional 19,518 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Pilgrim’s Pride in the 3rd quarter worth approximately $27,000. 16.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on PPC. Stephens started coverage on Pilgrim’s Pride in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $43.00 price objective on the stock. Bank of America lowered 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 report on Thursday, August 15th. BMO Capital Markets raised their price objective 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. Barclays upped their target price on shares of Pilgrim’s Pride from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Finally, 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. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Pilgrim’s Pride presently has an average rating of “Hold” and an average price target of $45.50.

Pilgrim’s Pride Trading Up 2.0 %

Shares of PPC stock opened at $51.34 on Friday. The company has a market capitalization of $12.17 billion, a P/E ratio of 12.40, a P/E/G ratio of 0.22 and a beta of 0.81. Pilgrim’s Pride Co. has a 12-month low of $25.23 and a 12-month high of $55.50. 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 50-day moving average price of $46.32 and a 200 day moving average price of $41.82.

Pilgrim’s Pride (NASDAQ:PPC) last announced its earnings results on Wednesday, October 30th. The company reported $1.63 EPS for the quarter, topping the consensus estimate 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 business had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.69 billion. During the same period in the previous year, the business earned $0.58 EPS. Pilgrim’s Pride’s revenue was up 5.2% compared to the same quarter last year. Research analysts forecast that Pilgrim’s Pride Co. will post 4.91 earnings per share for the current fiscal year.

Pilgrim’s Pride 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.