Janney Montgomery Scott LLC Invests $3.35 Million in Pilgrim's Pride Corporation (NASDAQ:PPC)

Janney Montgomery Scott LLC purchased a new stake in Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 61,414 shares of the company's stock, valued at approximately $3,348,000.

Several other large investors have also recently bought and sold shares of PPC. RHS Financial LLC lifted its holdings in shares of Pilgrim's Pride by 9.4% during the first quarter. RHS Financial LLC now owns 10,127 shares of the company's stock worth $552,000 after buying an additional 867 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Pilgrim's Pride during the first quarter worth about $355,000. Polianta Ltd bought a new position in Pilgrim's Pride during the first quarter worth about $1,308,000. Fifth Third Bancorp raised its stake in Pilgrim's Pride by 10.6% in the 1st quarter. Fifth Third Bancorp now owns 3,747 shares of the company's stock worth $204,000 after purchasing an additional 358 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Pilgrim's Pride by 76.5% in the 1st quarter. SG Americas Securities LLC now owns 19,940 shares of the company's stock valued at $1,087,000 after purchasing an additional 8,645 shares during the period. 16.64% of the stock is owned by institutional investors.

Pilgrim's Pride Price Performance

NASDAQ PPC traded down $1.71 during trading on Wednesday, hitting $44.91. 939,759 shares of the company's stock were exchanged, compared to its average volume of 1,226,603. The company has a market cap of $10.65 billion, a PE ratio of 8.86 and a beta of 0.48. The company has a current ratio of 1.35, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. Pilgrim's Pride Corporation has a fifty-two week low of $36.52 and a fifty-two week high of $57.16. The stock's 50 day moving average price is $48.82 and its two-hundred day moving average price is $49.41.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.26 by $0.05. Pilgrim's Pride had a net margin of 6.72% and a return on equity of 36.95%. The business had revenue of $4.46 billion during the quarter, compared to analysts' expectations of $4.53 billion. During the same period in the prior year, the company earned $0.77 EPS. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. Research analysts expect that Pilgrim's Pride Corporation will post 5.13 EPS for the current year.

Analysts Set New Price Targets

PPC has been the topic of several recent research reports. BMO Capital Markets raised their target price on shares of Pilgrim's Pride from $47.00 to $48.00 and gave the stock a "market perform" rating in a report on Monday, March 17th. Santander initiated coverage on Pilgrim's Pride in a research report on Wednesday, March 5th. They set a "neutral" rating on the stock. The Goldman Sachs Group assumed coverage on Pilgrim's Pride in a report on Monday. They issued a "neutral" rating and a $50.00 price objective for the company. Finally, Wall Street Zen raised Pilgrim's Pride from a "buy" rating to a "strong-buy" rating in a report on Saturday. Six equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $48.67.

Pilgrim's Pride Company Profile

Pilgrim's Pride Corp. engages in the production, processing, marketing, and distribution of fresh, frozen and value-added chicken and pork products to retailers, distributors, and foodservice operators. It operates through the following segments: U.S., U.K. and Europe, and Mexico. The company was founded by Lonnie A.