UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 9,550 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 7.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 122,158 shares of the company’s stock after selling 9,550 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.05% of Pilgrim’s Pride worth $5,625,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PPC. Pacer Advisors Inc. lifted its stake in shares of 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 buying an additional 4,849,147 shares during the period. Assetmark Inc. increased its holdings in shares of Pilgrim’s Pride by 145,879.0% during the 3rd quarter. Assetmark Inc. now owns 827,701 shares of the company’s stock worth $38,116,000 after buying an additional 827,134 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Pilgrim’s Pride by 366.1% during the 2nd 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. Allspring Global Investments Holdings LLC boosted its position in 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 buying an additional 203,408 shares during the period. Finally, United Capital Management of KS Inc. purchased a new position in Pilgrim’s Pride in the 3rd quarter valued at approximately $6,277,000. 16.64% of the stock is owned by hedge funds and other institutional investors.

Pilgrim’s Pride Stock Up 0.8 %

Shares of NASDAQ:PPC opened at $48.77 on Wednesday. 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 1-year low of $25.60 and a 1-year high of $55.50. The company’s fifty day moving average is $49.01 and its two-hundred day moving average is $43.56. The stock has a market capitalization of $11.56 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 0.20 and a beta of 0.82.

Pilgrim’s Pride (NASDAQ:PPC) last announced its earnings results on Wednesday, October 30th. The company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.36. Pilgrim’s Pride had a net margin of 5.46% and a return on equity of 29.92%. The firm had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.69 billion. During the same quarter in the prior year, the firm posted $0.58 EPS. Pilgrim’s Pride’s revenue was up 5.2% compared to the same quarter last year. Equities analysts anticipate that Pilgrim’s Pride Co. will post 5.12 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PPC shares. Bank of America lowered shares of Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price target on the stock. in a research note on Thursday, August 15th. BMO Capital Markets lifted their target price on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Barclays boosted their price objective 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 set an “equal weight” rating and a $43.00 price target for the company. Finally, Argus upped their target price on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $45.50.

Pilgrim’s Pride 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.