5,354 Shares in Pilgrim’s Pride Co. (NASDAQ:PPC) Purchased by Moran Wealth Management LLC

Moran Wealth Management LLC purchased a new position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 5,354 shares of the company’s stock, valued at approximately $247,000.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Pilgrim’s Pride by 3.3% during the first quarter. Vanguard Group Inc. now owns 4,233,961 shares of the company’s stock worth $145,310,000 after purchasing an additional 136,970 shares during the period. Acadian Asset Management LLC bought a new stake in Pilgrim’s Pride in the 1st quarter valued at $323,000. Quadrature Capital Ltd bought a new position in Pilgrim’s Pride during the first quarter worth $904,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Pilgrim’s Pride by 16.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,225 shares of the company’s stock valued at $317,000 after purchasing an additional 1,270 shares during the last quarter. Finally, Bayesian Capital Management LP raised its position in shares of Pilgrim’s Pride by 2.6% in the first quarter. Bayesian Capital Management LP now owns 11,382 shares of the company’s stock valued at $391,000 after purchasing an additional 290 shares during the period. Institutional investors and hedge funds own 16.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PPC shares. 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 price target on the stock. Barclays boosted their price target 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. BMO Capital Markets upped their price objective on Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Bank of America downgraded Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 target price for the company. in a report on Thursday, August 15th. Finally, Argus upped their price target 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 investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Pilgrim’s Pride currently has a consensus rating of “Hold” and an average target price of $45.50.

Pilgrim’s Pride Stock Performance

Shares of Pilgrim’s Pride stock opened at $51.71 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.27 and a debt-to-equity ratio of 0.75. The company has a market cap of $12.26 billion, a PE ratio of 12.49, a price-to-earnings-growth ratio of 0.22 and a beta of 0.81. The company has a 50 day moving average of $47.28 and a 200-day moving average of $42.37. Pilgrim’s Pride Co. has a 1-year low of $25.23 and a 1-year high of $55.50.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings results 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. The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.69 billion. Pilgrim’s Pride had a return on equity of 29.92% and a net margin of 5.46%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.58 EPS. As a group, equities research analysts forecast 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.