HighTower Advisors LLC Has $510,000 Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

HighTower Advisors LLC reduced its stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 12.5% in the 3rd quarter, Holdings Channel reports. The firm owned 10,919 shares of the company’s stock after selling 1,555 shares during the quarter. HighTower Advisors LLC’s holdings in Pilgrim’s Pride were worth $510,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Harbor Capital Advisors Inc. acquired a new stake in Pilgrim’s Pride during the third quarter worth approximately $27,000. ORG Wealth Partners LLC bought a new stake in shares of Pilgrim’s Pride during the third quarter worth about $29,000. Raleigh Capital Management Inc. bought a new position in shares of Pilgrim’s Pride in the third quarter valued at approximately $34,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Pilgrim’s Pride in the 2nd quarter valued at $32,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Pilgrim’s Pride in the 2nd quarter worth $62,000. 16.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PPC has been the topic of a number of recent analyst reports. Stephens assumed coverage on Pilgrim’s Pride in a report on Thursday, October 3rd. They set an “equal weight” rating and a $43.00 price target on the stock. Barclays upped their price target on 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 lifted their target price on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st. Finally, Argus increased their target price on Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Five investment 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. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $45.50.

Pilgrim’s Pride Stock Down 2.9 %

Shares of NASDAQ:PPC opened at $46.16 on Friday. The stock has a market capitalization of $10.95 billion, a P/E ratio of 11.15, a price-to-earnings-growth ratio of 0.20 and a beta of 0.82. Pilgrim’s Pride Co. has a 12-month low of $26.37 and a 12-month high of $55.50. The stock’s 50-day moving average price is $49.60 and its 200-day moving average price is $44.11. 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.36. The business had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.69 billion. Pilgrim’s Pride had a net margin of 5.46% and a return on equity of 29.92%. The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.58 EPS. On average, equities analysts anticipate that Pilgrim’s Pride Co. will post 5.12 earnings per share for the current 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.