Pilgrim’s Pride Co. (NASDAQ:PPC) Stock Holdings Lessened by State Street Corp

State Street Corp cut its holdings in Pilgrim’s Pride Co. (NASDAQ:PPC) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,254,716 shares of the company’s stock after selling 9,729 shares during the period. State Street Corp owned about 0.53% of Pilgrim’s Pride worth $57,780,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Quarry LP grew its stake in Pilgrim’s Pride by 295.8% during the 3rd quarter. Quarry LP now owns 946 shares of the company’s stock worth $44,000 after buying an additional 707 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Pilgrim’s Pride by 903.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,455,513 shares of the company’s stock valued at $67,026,000 after acquiring an additional 1,310,530 shares during the period. Janus Henderson Group PLC grew its position in shares of Pilgrim’s Pride by 3.7% during the third quarter. Janus Henderson Group PLC now owns 21,860 shares of the company’s stock worth $1,007,000 after acquiring an additional 780 shares during the last quarter. ClearAlpha Technologies LP acquired a new stake in shares of Pilgrim’s Pride in the 3rd quarter worth about $316,000. Finally, Kestra Investment Management LLC bought a new stake in Pilgrim’s Pride in the 3rd quarter valued at about $474,000. Institutional investors own 16.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on PPC. BMO Capital Markets raised their target price on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. 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 note on Wednesday, August 28th. Stephens initiated coverage on 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. Finally, Barclays lifted their price target on 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. 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 MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $45.50.

Pilgrim’s Pride Price Performance

Shares of NASDAQ:PPC opened at $48.16 on Thursday. The company has a market capitalization of $11.42 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 0.20 and a beta of 0.82. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.27 and a current ratio of 1.95. The stock has a fifty day moving average of $49.54 and a 200-day moving average of $44.09. Pilgrim’s Pride Co. has a one year low of $26.07 and a one year high of $55.50.

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

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.