Pilgrim’s Pride Co. (NASDAQ:PPC) Shares Sold by Inspire Investing LLC

Inspire Investing LLC trimmed its position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 14.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 18,297 shares of the company’s stock after selling 3,019 shares during the period. Inspire Investing LLC’s holdings in Pilgrim’s Pride were worth $831,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new stake in shares of Pilgrim’s Pride during the 3rd quarter worth $27,000. ORG Wealth Partners LLC acquired a new stake in Pilgrim’s Pride in the 3rd quarter valued at $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Pilgrim’s Pride in the 2nd quarter valued at $32,000. Raleigh Capital Management Inc. acquired a new stake in Pilgrim’s Pride in the 3rd quarter valued at $34,000. Finally, Quarry LP increased its holdings in Pilgrim’s Pride by 295.8% in the 3rd quarter. Quarry LP now owns 946 shares of the company’s stock valued at $44,000 after purchasing an additional 707 shares in the last quarter. 16.64% of the stock is currently owned by institutional investors and hedge funds.

Pilgrim’s Pride Stock Down 2.4 %

Shares of Pilgrim’s Pride stock opened at $45.57 on Friday. The business has a 50-day moving average of $48.12 and a 200-day moving average of $45.82. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.95 and a quick ratio of 1.27. The company has a market capitalization of $10.81 billion, a PE ratio of 11.01, a P/E/G ratio of 0.20 and a beta of 0.84. Pilgrim’s Pride Co. has a 1-year low of $26.52 and a 1-year high of $55.50.

Pilgrim’s Pride (NASDAQ:PPC) last announced its earnings results on Wednesday, October 30th. The company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.36. Pilgrim’s Pride had a return on equity of 29.92% and a net margin of 5.46%. The company had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.69 billion. During the same period last year, the firm earned $0.58 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. As a group, equities analysts forecast that Pilgrim’s Pride Co. will post 5.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Stephens assumed coverage on Pilgrim’s Pride in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price target for the company. BMO Capital Markets increased their price target on Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Finally, Barclays increased their price target on Pilgrim’s Pride from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Pilgrim’s Pride presently has a consensus rating of “Hold” and an average target price of $45.50.

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.