Janney Montgomery Scott LLC Raises Stake in Pilgrim’s Pride Co. (NASDAQ:PPC)

Share on StockTwits

Janney Montgomery Scott LLC lifted its position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 301.8% in the third quarter, Holdings Channel reports. The firm owned 34,581 shares of the company’s stock after purchasing an additional 25,975 shares during the period. Janney Montgomery Scott LLC’s holdings in Pilgrim’s Pride were worth $1,108,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Man Group plc boosted its holdings in Pilgrim’s Pride by 1,850.8% in the 2nd quarter. Man Group plc now owns 1,745,958 shares of the company’s stock worth $44,330,000 after acquiring an additional 1,656,458 shares during the period. APG Asset Management N.V. purchased a new position in Pilgrim’s Pride in the 2nd quarter worth approximately $11,224,000. Prudential Financial Inc. boosted its holdings in Pilgrim’s Pride by 23.5% in the 2nd quarter. Prudential Financial Inc. now owns 2,225,706 shares of the company’s stock worth $56,511,000 after acquiring an additional 423,761 shares during the period. BlackRock Inc. boosted its holdings in Pilgrim’s Pride by 14.2% in the 2nd quarter. BlackRock Inc. now owns 2,742,638 shares of the company’s stock worth $69,637,000 after acquiring an additional 341,062 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its holdings in Pilgrim’s Pride by 39.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,081,831 shares of the company’s stock worth $27,468,000 after acquiring an additional 307,281 shares during the period. Institutional investors and hedge funds own 19.70% of the company’s stock.

Pilgrim’s Pride stock opened at $31.25 on Friday. Pilgrim’s Pride Co. has a 52 week low of $14.83 and a 52 week high of $32.71. The company has a current ratio of 1.82, a quick ratio of 0.94 and a debt-to-equity ratio of 1.08. The stock has a 50 day moving average of $30.19 and a 200-day moving average of $28.45. The stock has a market cap of $7.55 billion, a P/E ratio of 24.41, a price-to-earnings-growth ratio of 0.84 and a beta of 0.76.

Pilgrim’s Pride (NASDAQ:PPC) last issued its earnings results on Wednesday, October 30th. The company reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.02. Pilgrim’s Pride had a return on equity of 17.87% and a net margin of 3.24%. The firm had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.74 billion. During the same period last year, the company earned $0.21 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities analysts predict that Pilgrim’s Pride Co. will post 1.87 earnings per share for the current fiscal year.

PPC has been the subject of a number of analyst reports. FinnCap restated a “corporate” rating on shares of Pilgrim’s Pride in a report on Saturday, November 2nd. Stephens upped their price target on Pilgrim’s Pride from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, September 19th. BidaskClub cut Pilgrim’s Pride from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Peel Hunt restated an “add” rating on shares of Pilgrim’s Pride in a report on Monday, October 21st. Finally, ValuEngine cut Pilgrim’s Pride from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $31.33.

About Pilgrim’s Pride

Pilgrim's Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products in the United States, the United Kingdom, Europe, and Mexico. The company offers fresh chicken products, including pre-marinated or non-marinated refrigerated (nonfrozen) whole or cut-up chicken; and prepackaged case-ready chicken, such as whole chickens and chicken parts.

Recommended Story: Economic Reports

Want to see what other hedge funds are holding PPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pilgrim’s Pride Co. (NASDAQ:PPC).

Institutional Ownership by Quarter for Pilgrim`s Pride (NASDAQ:PPC)

Receive News & Ratings for Pilgrim's Pride Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pilgrim's Pride and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.