Janney Montgomery Scott LLC Has $1.35 Million Stake in Pilgrim’s Pride Co. (NASDAQ:PPC)

Janney Montgomery Scott LLC boosted its holdings in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 61.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,285 shares of the company’s stock after buying an additional 11,167 shares during the period. Janney Montgomery Scott LLC’s holdings in Pilgrim’s Pride were worth $1,349,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. AQR Capital Management LLC grew its stake in shares of Pilgrim’s Pride by 366.1% in the 2nd quarter. AQR Capital Management LLC now owns 638,825 shares of the company’s stock valued at $24,320,000 after purchasing an additional 501,776 shares during the period. Allspring Global Investments Holdings LLC boosted its stake 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 in the last quarter. Vanguard Group Inc. grew its position in Pilgrim’s Pride by 3.3% in the first quarter. Vanguard Group Inc. now owns 4,233,961 shares of the company’s stock valued at $145,310,000 after acquiring an additional 136,970 shares during the period. Marshall Wace LLP raised its stake in Pilgrim’s Pride by 68.2% during the second quarter. Marshall Wace LLP now owns 318,688 shares of the company’s stock worth $12,266,000 after acquiring an additional 129,256 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Pilgrim’s Pride by 535.4% during the second quarter. American Century Companies Inc. now owns 113,785 shares of the company’s stock valued at $4,380,000 after acquiring an additional 95,878 shares during the period. Institutional investors and hedge funds own 16.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PPC. Stephens initiated coverage on shares of Pilgrim’s Pride in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 target price on the stock. Argus upped their price objective on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. 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 report on Friday, November 1st. Barclays boosted their target price on Pilgrim’s Pride from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Finally, Bank of America lowered Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price target on the stock. in a research report on Thursday, August 15th. Five investment 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’s stock. According to MarketBeat.com, Pilgrim’s Pride currently has a consensus rating of “Hold” and a consensus target price of $45.50.

Pilgrim’s Pride Trading Down 4.5 %

Shares of NASDAQ PPC opened at $50.33 on Friday. Pilgrim’s Pride Co. has a 1-year low of $25.23 and a 1-year high of $55.50. The company has a 50-day moving average of $46.19 and a two-hundred day moving average of $41.71. The company has a market cap of $11.93 billion, a PE ratio of 12.16, a P/E/G ratio of 0.23 and a beta of 0.81. The company has a current ratio of 1.95, a quick ratio of 1.27 and a debt-to-equity ratio of 0.75.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.63 earnings per share 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 business had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.69 billion. During the same quarter last year, the business posted $0.58 earnings per share. Pilgrim’s Pride’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities analysts expect that Pilgrim’s Pride Co. will post 4.91 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.