Pilgrim's Pride Corporation (NASDAQ:PPC) Shares Purchased by Moran Wealth Management LLC

Moran Wealth Management LLC lifted its stake in shares of Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) by 105.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 149,375 shares of the company's stock after acquiring an additional 76,610 shares during the quarter. Moran Wealth Management LLC owned approximately 0.06% of Pilgrim's Pride worth $8,142,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ruffer LLP purchased a new stake in Pilgrim's Pride in the fourth quarter worth about $8,381,000. Illinois Municipal Retirement Fund lifted its position in shares of Pilgrim's Pride by 30.0% in the 4th quarter. Illinois Municipal Retirement Fund now owns 58,289 shares of the company's stock worth $2,646,000 after purchasing an additional 13,459 shares during the period. Sigma Planning Corp increased its holdings in Pilgrim's Pride by 73.9% during the fourth quarter. Sigma Planning Corp now owns 28,587 shares of the company's stock valued at $1,298,000 after buying an additional 12,149 shares during the period. New Age Alpha Advisors LLC purchased a new position in Pilgrim's Pride during the fourth quarter valued at approximately $249,000. Finally, Norden Group LLC lifted its holdings in Pilgrim's Pride by 61.6% during the fourth quarter. Norden Group LLC now owns 15,211 shares of the company's stock worth $690,000 after buying an additional 5,798 shares during the period. Institutional investors own 16.64% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PPC shares. Wall Street Zen upgraded Pilgrim's Pride from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 21st. Santander started coverage on Pilgrim's Pride in a research note on Wednesday, March 5th. They issued a "neutral" rating on the stock. The Goldman Sachs Group initiated coverage on shares of Pilgrim's Pride in a report on Monday. They issued a "neutral" rating and a $50.00 target price for the company. Finally, BMO Capital Markets raised their price target on shares of Pilgrim's Pride from $47.00 to $48.00 and gave the company a "market perform" rating in a report on Monday, March 17th. Six investment 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $48.67.

Pilgrim's Pride Stock Up 0.6%

PPC stock traded up $0.26 on Friday, hitting $44.81. 673,535 shares of the company's stock were exchanged, compared to its average volume of 1,229,525. The firm has a 50 day moving average price of $48.46 and a two-hundred day moving average price of $49.35. Pilgrim's Pride Corporation has a 12-month low of $36.52 and a 12-month high of $57.16. The stock has a market cap of $10.63 billion, a P/E ratio of 8.85 and a beta of 0.48. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.88 and a current ratio of 1.35.

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

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.