US Bancorp DE Increases Stock Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

US Bancorp DE boosted its position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 193.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,795 shares of the company’s stock after buying an additional 1,841 shares during the quarter. US Bancorp DE’s holdings in Pilgrim’s Pride were worth $129,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC acquired a new position in Pilgrim’s Pride in the 3rd quarter worth about $29,000. Raleigh Capital Management Inc. acquired a new position in shares of Pilgrim’s Pride during the 3rd quarter worth approximately $34,000. ORG Partners LLC purchased a new position in shares of Pilgrim’s Pride during the 2nd quarter valued at approximately $32,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Pilgrim’s Pride in the 2nd quarter valued at $32,000. Finally, Headlands Technologies LLC purchased a new stake in Pilgrim’s Pride in the 1st quarter worth $38,000. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Up 2.0 %

NASDAQ PPC opened at $51.34 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.95 and a debt-to-equity ratio of 0.75. Pilgrim’s Pride Co. has a 52 week low of $25.23 and a 52 week high of $55.50. The business’s fifty day simple moving average is $46.32 and its 200-day simple moving average is $41.82. The firm has a market cap of $12.17 billion, a PE ratio of 12.40, a P/E/G ratio of 0.22 and a beta of 0.81.

Pilgrim’s Pride (NASDAQ:PPC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.63 earnings per share 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 analysts’ expectations of $4.69 billion. Pilgrim’s Pride had a net margin of 5.46% and a return on equity of 29.92%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.58 EPS. As a group, equities analysts anticipate that Pilgrim’s Pride Co. will post 4.91 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on PPC shares. Stephens started coverage on shares of Pilgrim’s Pride in a research report on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 target price on the stock. Argus increased their target price on Pilgrim’s Pride from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. 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 note on Thursday, August 15th. Barclays increased their price objective on Pilgrim’s Pride from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Finally, 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 note on Friday, November 1st. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.