16,438 Shares in Pilgrim’s Pride Co. (NASDAQ:PPC) Acquired by Sigma Planning Corp

Sigma Planning Corp bought a new position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) in the third quarter, Holdings Channel reports. The fund bought 16,438 shares of the company’s stock, valued at approximately $757,000.

A number of other large investors have also recently added to or reduced their stakes in PPC. Assetmark Inc. lifted its position in shares of Pilgrim’s Pride by 145,879.0% in the 3rd 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 in the last quarter. AQR Capital Management LLC lifted its position in shares of Pilgrim’s Pride by 366.1% in the 2nd quarter. AQR Capital Management LLC now owns 638,825 shares of the company’s stock valued at $24,320,000 after acquiring an additional 501,776 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Pilgrim’s Pride by 88.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 433,891 shares of the company’s stock valued at $19,981,000 after acquiring an additional 203,408 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Pilgrim’s Pride by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 4,233,961 shares of the company’s stock valued at $145,310,000 after acquiring an additional 136,970 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Pilgrim’s Pride by 68.2% in the 2nd quarter. Marshall Wace LLP now owns 318,688 shares of the company’s stock valued at $12,266,000 after acquiring an additional 129,256 shares in the last quarter. 16.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PPC shares. BMO Capital Markets upped their price target on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Barclays upped their price target on shares of Pilgrim’s Pride from $45.00 to $49.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Stephens initiated coverage on shares of Pilgrim’s Pride in a research report on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 target price for the company. Argus increased their target price on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, Bank of America downgraded shares of Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 target price for the company. in a research report on Thursday, August 15th. Five 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.com, the company presently has a consensus rating of “Hold” and an average target price of $45.50.

Pilgrim’s Pride Stock Down 1.0 %

Pilgrim’s Pride stock opened at $52.72 on Thursday. The company has a market capitalization of $12.50 billion, a P/E ratio of 12.73, a P/E/G ratio of 0.23 and a beta of 0.81. The firm’s fifty day simple moving average is $46.10 and its 200-day simple moving average is $41.65. The company has a current ratio of 1.95, a quick ratio of 1.27 and a debt-to-equity ratio of 0.75. Pilgrim’s Pride Co. has a 1-year low of $25.23 and a 1-year high of $55.50.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.36. The business had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.69 billion. Pilgrim’s Pride had a net margin of 5.46% and a return on equity of 29.92%. Pilgrim’s Pride’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.58 EPS. Sell-side analysts forecast that Pilgrim’s Pride Co. will post 4.91 earnings per share for the current fiscal year.

Pilgrim’s Pride Company 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.