Sigma Planning Corp Takes $757,000 Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

Sigma Planning Corp acquired a new stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 16,438 shares of the company’s stock, valued at approximately $757,000.

Several other institutional investors also recently made changes to their positions in the stock. Assetmark Inc. boosted its position in Pilgrim’s Pride by 145,879.0% during the 3rd quarter. Assetmark Inc. now owns 827,701 shares of the company’s stock worth $38,116,000 after purchasing an additional 827,134 shares during the period. AQR Capital Management LLC boosted its position in Pilgrim’s Pride by 366.1% during the 2nd quarter. AQR Capital Management LLC now owns 638,825 shares of the company’s stock worth $24,320,000 after purchasing an additional 501,776 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Pilgrim’s Pride by 88.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 433,891 shares of the company’s stock worth $19,981,000 after purchasing an additional 203,408 shares during the period. Vanguard Group Inc. boosted its position in Pilgrim’s Pride by 3.3% during the 1st 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. Finally, Marshall Wace LLP boosted its position in Pilgrim’s Pride by 68.2% during the 2nd quarter. Marshall Wace LLP now owns 318,688 shares of the company’s stock worth $12,266,000 after purchasing an additional 129,256 shares during the period. 16.64% of the stock is owned by hedge funds and other institutional investors.

Pilgrim’s Pride Price Performance

Shares of NASDAQ:PPC opened at $52.72 on Thursday. The firm’s 50 day moving average is $46.10 and its two-hundred day moving average is $41.65. Pilgrim’s Pride Co. has a 52 week low of $25.23 and a 52 week high of $55.50. The firm has a market capitalization of $12.50 billion, a P/E ratio of 12.73, a PEG ratio of 0.23 and a beta of 0.81. The company has a current ratio of 1.95, a quick ratio of 1.27 and a debt-to-equity ratio of 0.75.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.63 EPS 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 company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.69 billion. During the same quarter last year, the business earned $0.58 earnings per share. Pilgrim’s Pride’s revenue was up 5.2% compared to the same quarter last year. Analysts anticipate that Pilgrim’s Pride Co. will post 4.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PPC has been the subject of a number of analyst reports. Argus upped their price objective on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Bank of America cut shares of Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price objective for the company. in a research report on Thursday, August 15th. Barclays upped their price objective on shares of Pilgrim’s Pride from $45.00 to $49.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. BMO Capital Markets upped their price objective on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Finally, Stephens initiated coverage on shares of Pilgrim’s Pride in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 target price on the stock. Five equities research 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 stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $45.50.

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.