Pilgrim’s Pride Co. (NASDAQ:PPC) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. lifted its position in Pilgrim’s Pride Co. (NASDAQ:PPC) by 325.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,071 shares of the company’s stock after acquiring an additional 42,136 shares during the period. Franklin Resources Inc.’s holdings in Pilgrim’s Pride were worth $2,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new stake in Pilgrim’s Pride during the 3rd quarter valued at approximately $27,000. ORG Wealth Partners LLC purchased a new position in shares of Pilgrim’s Pride during the third quarter worth $29,000. Raleigh Capital Management Inc. acquired a new position in Pilgrim’s Pride during the third quarter valued at $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Pilgrim’s Pride in the second quarter valued at $32,000. Finally, Quarry LP grew its position 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 purchasing an additional 707 shares during the period. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Analyst Upgrades and Downgrades

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

Pilgrim’s Pride Trading Down 1.5 %

Shares of NASDAQ:PPC opened at $45.62 on Friday. The business’s 50 day moving average price is $49.68 and its 200-day moving average price is $44.52. Pilgrim’s Pride Co. has a 1 year low of $26.52 and a 1 year high of $55.50. The firm has a market capitalization of $10.82 billion, a price-to-earnings ratio of 11.02, 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 current ratio of 1.95 and a quick ratio of 1.27.

Pilgrim’s Pride (NASDAQ:PPC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.69 billion. During the same period last year, the firm posted $0.58 earnings per share. The company’s revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts forecast that Pilgrim’s Pride Co. will post 5.12 earnings per share 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.