Mutual of America Capital Management LLC Decreases Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

Mutual of America Capital Management LLC cut its holdings in Pilgrim’s Pride Co. (NASDAQ:PPC) by 5.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,788 shares of the company’s stock after selling 1,276 shares during the period. Mutual of America Capital Management LLC’s holdings in Pilgrim’s Pride were worth $1,003,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PPC. SG Americas Securities LLC bought a new stake in shares of Pilgrim’s Pride in the 2nd quarter valued at about $1,583,000. ORG Wealth Partners LLC purchased a new stake in shares of Pilgrim’s Pride in the 3rd quarter worth about $29,000. Assetmark Inc. increased its stake in shares of Pilgrim’s Pride by 145,879.0% in the 3rd quarter. Assetmark Inc. now owns 827,701 shares of the company’s stock worth $38,116,000 after acquiring an additional 827,134 shares in the last quarter. Highland Capital Management LLC lifted its position in Pilgrim’s Pride by 459.8% during the 3rd quarter. Highland Capital Management LLC now owns 33,244 shares of the company’s stock valued at $1,531,000 after acquiring an additional 27,305 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in Pilgrim’s Pride by 97,511.8% during the third quarter. Nisa Investment Advisors LLC now owns 33,188 shares of the company’s stock worth $1,528,000 after acquiring an additional 33,154 shares in the last quarter. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

Pilgrim’s Pride Stock Performance

PPC stock opened at $50.31 on Tuesday. The stock’s 50 day simple moving average is $47.47 and its 200 day simple moving average is $42.54. 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 Co. has a 12-month low of $25.23 and a 12-month high of $55.50. The stock has a market capitalization of $11.93 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 0.22 and a beta of 0.81.

Pilgrim’s Pride (NASDAQ:PPC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.36. Pilgrim’s Pride had a return on equity of 29.92% and a net margin of 5.46%. The firm had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.69 billion. During the same quarter in the previous year, the business earned $0.58 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. As a group, research analysts forecast that Pilgrim’s Pride Co. will post 4.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Stephens assumed coverage on shares of Pilgrim’s Pride in a research note on Thursday, October 3rd. They set an “equal weight” rating and a $43.00 target price for the company. 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 report on Friday, November 1st. Argus boosted their target price on Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Barclays increased their target price 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, Bank of America lowered Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price target for the company. in a research report on Thursday, August 15th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $45.50.

Pilgrim’s Pride Company Profile

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.