Kestra Investment Management LLC Takes Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

Kestra Investment Management LLC bought a new stake in Pilgrim’s Pride Co. (NASDAQ:PPC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,288 shares of the company’s stock, valued at approximately $474,000.

A number of other institutional investors also recently modified their holdings of the business. Pacer Advisors Inc. lifted its position in Pilgrim’s Pride by 1,289.4% during the third quarter. Pacer Advisors Inc. now owns 5,225,216 shares of the company’s stock worth $240,621,000 after purchasing an additional 4,849,147 shares during the period. Assetmark Inc. lifted its position in Pilgrim’s Pride by 145,879.0% during the third quarter. Assetmark Inc. now owns 827,701 shares of the company’s stock worth $38,116,000 after purchasing an additional 827,134 shares during the period. AQR Capital Management LLC lifted its position in Pilgrim’s Pride by 366.1% during the second quarter. AQR Capital Management LLC now owns 638,825 shares of the company’s stock worth $24,320,000 after purchasing an additional 501,776 shares during the period. Renaissance Technologies LLC lifted its position in Pilgrim’s Pride by 16.7% during the second quarter. Renaissance Technologies LLC now owns 635,240 shares of the company’s stock worth $24,450,000 after purchasing an additional 91,127 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in Pilgrim’s Pride by 88.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 433,891 shares of the company’s stock worth $19,981,000 after purchasing an additional 203,408 shares during the period. Institutional investors own 16.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PPC. Argus upped their price objective 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. Bank of America downgraded Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 target price for the company. in a research note on Thursday, August 15th. Barclays boosted their target price on Pilgrim’s Pride from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. BMO Capital Markets boosted their target price on Pilgrim’s Pride from $42.00 to $43.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st. Finally, Stephens initiated coverage on Pilgrim’s Pride in a research note on Thursday, October 3rd. They set an “equal weight” rating and a $43.00 target price for the company. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $45.50.

Pilgrim’s Pride Stock Up 2.2 %

Pilgrim’s Pride stock opened at $51.61 on Monday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.27 and a current ratio of 1.95. Pilgrim’s Pride Co. has a 52-week low of $25.33 and a 52-week high of $55.50. The firm has a 50 day moving average price of $48.16 and a two-hundred day moving average price of $42.87. The firm has a market cap of $12.24 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 0.22 and a beta of 0.81.

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