TFB Advisors LLC Acquires New Shares in Pilgrim’s Pride Co. (NASDAQ:PPC)

TFB Advisors LLC bought a new position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,469 shares of the company’s stock, valued at approximately $298,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new stake in Pilgrim’s Pride in the 3rd quarter valued at about $27,000. ORG Wealth Partners LLC purchased a new stake in shares of Pilgrim’s Pride in the 3rd quarter valued at approximately $29,000. ORG Partners LLC acquired a new position in shares of Pilgrim’s Pride in the 2nd quarter worth approximately $32,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Pilgrim’s Pride during the 2nd quarter worth approximately $32,000. Finally, Raleigh Capital Management Inc. acquired a new stake in Pilgrim’s Pride in the 3rd quarter valued at approximately $34,000. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Analyst Upgrades and Downgrades

PPC has been the subject of several research analyst reports. Argus raised their price target 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. BMO Capital Markets lifted their target price 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. Stephens assumed coverage on shares of Pilgrim’s Pride in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $43.00 price target on the stock. 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 report on Thursday, August 15th. Finally, Barclays raised their price target 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. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Pilgrim’s Pride presently has an average rating of “Hold” and an average price target of $45.50.

Pilgrim’s Pride Trading Up 2.8 %

NASDAQ:PPC opened at $53.82 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.27 and a current ratio of 1.95. Pilgrim’s Pride Co. has a 1 year low of $25.23 and a 1 year high of $55.50. The stock has a market cap of $12.76 billion, a P/E ratio of 13.00, a P/E/G ratio of 0.20 and a beta of 0.81. The stock has a 50-day simple moving average of $45.68 and a 200-day simple moving average of $41.25.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $4.69 billion. During the same quarter last year, the company earned $0.58 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, analysts anticipate that Pilgrim’s Pride Co. will post 5.21 earnings per share for the current fiscal year.

Pilgrim’s Pride 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.