Raymond James Financial Services Advisors Inc. trimmed its stake in Pilgrim’s Pride Co. (NASDAQ:PPC – Free Report) by 12.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,955 shares of the company’s stock after selling 1,906 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Pilgrim’s Pride were worth $300,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Creative Planning grew its position in Pilgrim’s Pride by 33.6% during the 2nd quarter. Creative Planning now owns 12,737 shares of the company’s stock worth $274,000 after purchasing an additional 3,204 shares during the last quarter. Martingale Asset Management L P grew its position in Pilgrim’s Pride by 12.8% during the 1st quarter. Martingale Asset Management L P now owns 234,049 shares of the company’s stock worth $5,425,000 after purchasing an additional 26,625 shares during the last quarter. SG Americas Securities LLC grew its position in Pilgrim’s Pride by 235.4% during the 2nd quarter. SG Americas Securities LLC now owns 104,905 shares of the company’s stock worth $2,254,000 after purchasing an additional 73,627 shares during the last quarter. Herr Investment Group LLC grew its position in Pilgrim’s Pride by 116.6% during the 1st quarter. Herr Investment Group LLC now owns 642,857 shares of the company’s stock worth $14,901,000 after purchasing an additional 346,003 shares during the last quarter. Finally, PAX Financial Group LLC grew its position in Pilgrim’s Pride by 10.8% during the 2nd quarter. PAX Financial Group LLC now owns 49,278 shares of the company’s stock worth $1,059,000 after purchasing an additional 4,792 shares during the last quarter. Institutional investors and hedge funds own 16.43% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the stock. TheStreet downgraded shares of Pilgrim’s Pride from a “b-” rating to a “c” rating in a research report on Wednesday, October 25th. StockNews.com assumed coverage on shares of Pilgrim’s Pride in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, BMO Capital Markets raised shares of Pilgrim’s Pride from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $26.00 to $28.00 in a report on Thursday, July 13th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.00.
Pilgrim’s Pride Stock Up 2.2 %
Shares of NASDAQ:PPC opened at $26.17 on Friday. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 218.10 and a beta of 1.00. The firm’s 50-day simple moving average is $24.19 and its 200-day simple moving average is $23.55. The company has a quick ratio of 0.96, a current ratio of 1.75 and a debt-to-equity ratio of 1.20. Pilgrim’s Pride Co. has a fifty-two week low of $19.96 and a fifty-two week high of $26.57.
Pilgrim’s Pride (NASDAQ:PPC – Get Free Report) last issued its earnings results on Wednesday, October 25th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.07. The business had revenue of $4.36 billion for the quarter. Pilgrim’s Pride had a net margin of 0.19% and a return on equity of 4.90%. As a group, equities research analysts predict that Pilgrim’s Pride Co. will post 1.36 earnings per share for the current year.
Pilgrim’s Pride Company Profile
Pilgrim's Pride Corporation engages in the production, processing, marketing and distribution of fresh, frozen and value-added chicken, and pork products to retailers, distributors, and foodservice operators in the United States, the United Kingdom, Mexico, the Middle East, Asia, Continental Europe, and internationally.
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