Fmr LLC Sells 4,599 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Fmr LLC reduced its position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 7.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 53,819 shares of the company’s stock after selling 4,599 shares during the quarter. Fmr LLC’s holdings in Pilgrim’s Pride were worth $2,478,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new position in shares of Pilgrim’s Pride during the 3rd quarter valued at about $27,000. ORG Wealth Partners LLC purchased a new position in Pilgrim’s Pride in the 3rd quarter worth approximately $29,000. ORG Partners LLC purchased a new position in Pilgrim’s Pride in the 2nd quarter worth approximately $32,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Pilgrim’s Pride in the 2nd quarter worth approximately $32,000. Finally, Raleigh Capital Management Inc. purchased a new position in Pilgrim’s Pride in the 3rd quarter worth approximately $34,000. 16.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on PPC shares. BMO Capital Markets boosted their price target on Pilgrim’s Pride from $42.00 to $43.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Stephens started coverage on Pilgrim’s Pride in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price target on the stock. Argus boosted their price target on Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Finally, 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 report on Friday, November 1st. Five 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. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $45.50.

Pilgrim’s Pride Stock Up 0.3 %

Shares of PPC opened at $49.96 on Friday. The stock has a market capitalization of $11.85 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 0.20 and a beta of 0.82. Pilgrim’s Pride Co. has a 1 year low of $25.68 and a 1 year high of $55.50. The business’s 50 day simple moving average is $49.29 and its 200-day simple moving average is $43.79. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.95 and a quick ratio of 1.27.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.36. The business had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.69 billion. Pilgrim’s Pride had a return on equity of 29.92% and a net margin of 5.46%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.58 EPS. As a group, equities analysts expect that Pilgrim’s Pride Co. will post 5.12 earnings per share for the current fiscal year.

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.