Bleakley Financial Group LLC Acquires 301 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Bleakley Financial Group LLC boosted its holdings in Pilgrim’s Pride Co. (NASDAQ:PPC) by 2.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,714 shares of the company’s stock after purchasing an additional 301 shares during the period. Bleakley Financial Group LLC’s holdings in Pilgrim’s Pride were worth $471,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in shares of Pilgrim’s Pride by 2,666.0% in the 4th quarter. International Assets Investment Management LLC now owns 44,865 shares of the company’s stock valued at $1,241,000 after acquiring an additional 43,243 shares during the period. Chesapeake Capital Corp IL bought a new position in shares of Pilgrim’s Pride in the 4th quarter valued at about $1,004,000. Alaska Permanent Fund Corp grew its position in shares of Pilgrim’s Pride by 173.9% in the 1st quarter. Alaska Permanent Fund Corp now owns 45,285 shares of the company’s stock valued at $1,554,000 after acquiring an additional 28,749 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Pilgrim’s Pride in the 4th quarter valued at about $781,000. Finally, Verition Fund Management LLC bought a new position in shares of Pilgrim’s Pride in the 4th quarter valued at about $5,024,000. Institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Performance

NASDAQ PPC opened at $39.83 on Friday. Pilgrim’s Pride Co. has a 52-week low of $22.33 and a 52-week high of $40.21. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.01 and a current ratio of 1.83. The firm has a 50-day moving average of $36.92 and a 200-day moving average of $33.54. The stock has a market cap of $9.44 billion, a PE ratio of 19.32, a P/E/G ratio of 0.25 and a beta of 0.78.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.17. Pilgrim’s Pride had a net margin of 2.80% and a return on equity of 17.35%. The business had revenue of $4.36 billion during the quarter, compared to analysts’ expectations of $4.45 billion. During the same quarter in the previous year, the company earned $0.08 EPS. The business’s revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts anticipate that Pilgrim’s Pride Co. will post 4.25 EPS for the current year.

Wall Street Analyst Weigh In

PPC has been the subject of a number of analyst reports. The Goldman Sachs Group lifted their price objective on shares of Pilgrim’s Pride from $32.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. Argus started coverage on shares of Pilgrim’s Pride in a research report on Tuesday, June 18th. They issued a “buy” rating and a $41.00 price objective for the company. StockNews.com upgraded shares of Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 3rd. Bank of America raised their target price on shares of Pilgrim’s Pride from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Barclays restated an “equal weight” rating and set a $38.00 target price (up previously from $35.00) on shares of Pilgrim’s Pride in a research note on Tuesday, April 16th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Pilgrim’s Pride presently has an average rating of “Moderate Buy” and a consensus price target of $38.40.

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.