Daiwa Securities Group Inc. Takes $198,000 Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

Daiwa Securities Group Inc. purchased a new stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,300 shares of the company’s stock, valued at approximately $198,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Harbor Capital Advisors Inc. purchased a new stake in shares of Pilgrim’s Pride during the third quarter worth $27,000. ORG Wealth Partners LLC purchased a new stake in Pilgrim’s Pride during the 3rd quarter worth about $29,000. ORG Partners LLC bought a new position in Pilgrim’s Pride in the 2nd quarter worth about $32,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Pilgrim’s Pride during the 2nd quarter valued at about $32,000. Finally, Raleigh Capital Management Inc. bought a new stake in shares of Pilgrim’s Pride during the third quarter valued at about $34,000. 16.64% of the stock is owned by institutional investors.

Pilgrim’s Pride Trading Up 2.2 %

Shares of PPC stock opened at $51.61 on Monday. The business has a 50-day moving average price of $48.16 and a two-hundred day moving average price of $42.87. Pilgrim’s Pride Co. has a 12-month low of $25.33 and a 12-month high of $55.50. The company has a quick ratio of 1.27, a current ratio of 1.95 and a debt-to-equity ratio of 0.75. The firm has a market cap of $12.24 billion, a P/E ratio of 12.47, a price-to-earnings-growth ratio of 0.22 and a beta of 0.81.

Pilgrim’s Pride (NASDAQ:PPC) last released its earnings results on Wednesday, October 30th. The company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the company posted $0.58 EPS. Pilgrim’s Pride’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities analysts anticipate that Pilgrim’s Pride Co. will post 4.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Argus raised their price objective on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. BMO Capital Markets boosted 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. Stephens assumed coverage on Pilgrim’s Pride in a research report on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price objective on the stock. Bank of America lowered Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price objective for the company. in a research note on Thursday, August 15th. Finally, Barclays upped 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. Five 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.com, the company has an average rating of “Hold” and a consensus target price of $45.50.

About Pilgrim’s Pride

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.