10,749 Shares in Pilgrim’s Pride Co. (NASDAQ:PPC) Bought by CWA Asset Management Group LLC

CWA Asset Management Group LLC purchased a new stake in Pilgrim’s Pride Co. (NASDAQ:PPC) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 10,749 shares of the company’s stock, valued at approximately $488,000.

Several other institutional investors have also added to or reduced their stakes in PPC. Pacer Advisors Inc. raised its stake in shares of Pilgrim’s Pride by 1,289.4% in the third quarter. Pacer Advisors Inc. now owns 5,225,216 shares of the company’s stock worth $240,621,000 after purchasing an additional 4,849,147 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Pilgrim’s Pride by 903.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,455,513 shares of the company’s stock worth $67,026,000 after buying an additional 1,310,530 shares during the period. Geode Capital Management LLC raised its position in Pilgrim’s Pride by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 881,900 shares of the company’s stock worth $40,620,000 after buying an additional 11,128 shares during the last quarter. Assetmark Inc. lifted its stake in Pilgrim’s Pride by 145,879.0% during the 3rd quarter. Assetmark Inc. now owns 827,701 shares of the company’s stock valued at $38,116,000 after acquiring an additional 827,134 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of Pilgrim’s Pride by 366.1% in the 2nd quarter. AQR Capital Management LLC now owns 638,825 shares of the company’s stock valued at $24,320,000 after acquiring an additional 501,776 shares during the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Barclays raised their target price on shares of Pilgrim’s Pride from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Stephens assumed coverage on Pilgrim’s Pride in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price objective for the company. Finally, BMO Capital Markets raised their target price 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. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Pilgrim’s Pride currently has an average rating of “Hold” and an average price target of $45.50.

Pilgrim’s Pride Trading Up 1.3 %

PPC stock opened at $45.94 on Thursday. The company has a quick ratio of 1.27, a current ratio of 1.95 and a debt-to-equity ratio of 0.75. Pilgrim’s Pride Co. has a 52-week low of $26.52 and a 52-week high of $55.50. The company’s 50-day simple moving average is $49.65 and its 200-day simple moving average is $45.26. The firm has a market cap of $10.89 billion, a P/E ratio of 11.10, a PEG ratio of 0.20 and a beta of 0.84.

Pilgrim’s Pride (NASDAQ:PPC) last issued 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 company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.69 billion. Pilgrim’s Pride had a return on equity of 29.92% and a net margin of 5.46%. Pilgrim’s Pride’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.58 earnings per share. As a group, equities analysts forecast that Pilgrim’s Pride Co. will post 5.12 EPS 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.