4,521 Shares in Pilgrim’s Pride Co. (NASDAQ:PPC) Bought by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC purchased a new stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,521 shares of the company’s stock, valued at approximately $205,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PPC. Franklin Resources Inc. boosted its position in Pilgrim’s Pride by 325.8% during the 3rd quarter. Franklin Resources Inc. now owns 55,071 shares of the company’s stock worth $2,485,000 after purchasing an additional 42,136 shares during the period. World Investment Advisors LLC purchased a new stake in shares of Pilgrim’s Pride in the third quarter worth about $808,000. Exchange Traded Concepts LLC grew its stake in shares of Pilgrim’s Pride by 8.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 113,549 shares of the company’s stock valued at $5,154,000 after buying an additional 9,035 shares in the last quarter. Range Financial Group LLC purchased a new stake in shares of Pilgrim’s Pride during the 4th quarter valued at about $949,000. Finally, JPMorgan Chase & Co. lifted its position in Pilgrim’s Pride by 25.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 201,784 shares of the company’s stock worth $9,292,000 after acquiring an additional 40,908 shares in the last quarter. 16.64% of the stock is currently owned by institutional investors and hedge funds.

Pilgrim’s Pride Price Performance

Shares of NASDAQ PPC opened at $47.30 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 capitalization of $11.22 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 0.20 and a beta of 0.84. Pilgrim’s Pride Co. has a twelve month low of $26.52 and a twelve month high of $55.50. The business has a 50 day simple moving average of $47.68 and a 200-day simple moving average of $46.06.

Pilgrim’s Pride (NASDAQ:PPC) last released its 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. Pilgrim’s Pride had a net margin of 5.46% and a return on equity of 29.92%. The firm had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.69 billion. During the same quarter in the previous year, the firm earned $0.58 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities research analysts expect that Pilgrim’s Pride Co. will post 5.12 earnings per share for the current year.

Analysts Set New Price Targets

PPC has been the topic of a number of recent research reports. Stephens initiated coverage on shares of Pilgrim’s Pride in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $43.00 target price on the stock. Barclays boosted their price target on Pilgrim’s Pride from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets raised their price objective on Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $45.50.

About Pilgrim’s Pride

Pilgrim’s Pride Corp. engages in the production, processing, marketing, and distribution of fresh, frozen and value-added chicken and pork products to retailers, distributors, and foodservice operators. It operates through the following segments: U.S., U.K. and Europe, and Mexico. The company was founded by Lonnie A.