Signet Financial Management LLC Purchases 20,228 Shares of Pilgrim’s Pride Corporation $PPC

Signet Financial Management LLC grew its position in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 69.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 49,390 shares of the company’s stock after acquiring an additional 20,228 shares during the period. Signet Financial Management LLC’s holdings in Pilgrim’s Pride were worth $1,865,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Torren Management LLC acquired a new stake in Pilgrim’s Pride during the 4th quarter worth $31,000. MCF Advisors LLC acquired a new position in Pilgrim’s Pride in the fourth quarter valued at about $35,000. Kingdom Financial Group LLC. bought a new stake in shares of Pilgrim’s Pride in the fourth quarter worth about $37,000. Quarry LP increased its holdings in shares of Pilgrim’s Pride by 30.5% in the fourth quarter. Quarry LP now owns 1,248 shares of the company’s stock worth $49,000 after acquiring an additional 292 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of Pilgrim’s Pride by 23.5% during the fourth quarter. Signaturefd LLC now owns 1,350 shares of the company’s stock worth $53,000 after purchasing an additional 257 shares during the period. Institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Up 0.7%

NASDAQ:PPC opened at $28.42 on Thursday. The stock has a 50-day simple moving average of $28.48 and a 200 day simple moving average of $35.15. Pilgrim’s Pride Corporation has a 52-week low of $26.50 and a 52-week high of $50.56. The company has a market cap of $6.76 billion, a PE ratio of 7.62 and a beta of 0.29. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.73 and a current ratio of 1.48.

Pilgrim’s Pride (NASDAQ:PPC) last released its earnings results on Wednesday, April 29th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.18). Pilgrim’s Pride had a net margin of 4.78% and a return on equity of 28.57%. The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter in the previous year, the firm posted $1.31 EPS. The company’s revenue was up 1.6% on a year-over-year basis. On average, sell-side analysts expect that Pilgrim’s Pride Corporation will post 3.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PPC. Stephens set a $40.00 price objective on Pilgrim’s Pride in a report on Wednesday, April 15th. The Goldman Sachs Group dropped their target price on shares of Pilgrim’s Pride from $44.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. UBS Group assumed coverage on shares of Pilgrim’s Pride in a research note on Tuesday, May 19th. They issued a “neutral” rating and a $30.00 price target on the stock. BMO Capital Markets reduced their price target on shares of Pilgrim’s Pride from $42.00 to $40.00 and set a “market perform” rating for the company in a report on Wednesday, March 25th. Finally, Barclays raised shares of Pilgrim’s Pride from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $45.00 to $42.00 in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Pilgrim’s Pride currently has an average rating of “Hold” and an average price target of $36.83.

About Pilgrim’s Pride

Pilgrim’s Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim’s Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.

The company’s vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.