Wealth Enhancement Advisory Services LLC bought a new stake in Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,518 shares of the company's stock, valued at approximately $355,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Accredited Wealth Management LLC acquired a new stake in shares of Pilgrim's Pride in the 4th quarter valued at $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Pilgrim's Pride in the 4th quarter worth $55,000. Central Pacific Bank Trust Division bought a new position in shares of Pilgrim's Pride in the 1st quarter worth $133,000. US Bancorp DE boosted its position in shares of Pilgrim's Pride by 23.3% in the 4th quarter. US Bancorp DE now owns 3,445 shares of the company's stock worth $156,000 after purchasing an additional 650 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Pilgrim's Pride by 18.6% in the 1st quarter. GAMMA Investing LLC now owns 3,189 shares of the company's stock worth $174,000 after purchasing an additional 501 shares during the last quarter. 16.64% of the stock is owned by institutional investors and hedge funds.
Pilgrim's Pride Stock Performance
PPC stock opened at $45.23 on Tuesday. The business's 50-day moving average price is $47.26 and its two-hundred day moving average price is $49.17. The company has a current ratio of 1.35, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. The firm has a market cap of $10.72 billion, a PE ratio of 8.92 and a beta of 0.45. Pilgrim's Pride Corporation has a 1-year low of $37.28 and a 1-year high of $57.16.
Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.05. The firm 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 for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 earnings per share. As a group, research analysts forecast that Pilgrim's Pride Corporation will post 5.13 earnings per share for the current year.
Analyst Ratings Changes
Several research analysts have recently issued reports on PPC shares. BMO Capital Markets raised their price target on Pilgrim's Pride from $47.00 to $48.00 and gave the stock a "market perform" rating in a research report on Monday, March 17th. The Goldman Sachs Group started coverage on Pilgrim's Pride in a research report on Monday, June 23rd. They issued a "neutral" rating and a $50.00 price target on the stock. Finally, Wall Street Zen upgraded Pilgrim's Pride from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Six equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $48.67.
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Pilgrim's Pride Profile
(
Free Report)
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.
Further Reading
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