Janney Montgomery Scott LLC Acquires 11,167 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Janney Montgomery Scott LLC increased its holdings in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 61.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 29,285 shares of the company’s stock after purchasing an additional 11,167 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Pilgrim’s Pride were worth $1,349,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. ORG Wealth Partners LLC acquired a new position in Pilgrim’s Pride in the third quarter valued at about $29,000. ORG Partners LLC bought a new stake in shares of Pilgrim’s Pride in the 2nd quarter valued at about $32,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Pilgrim’s Pride in the 2nd quarter valued at approximately $32,000. Raleigh Capital Management Inc. bought a new position in Pilgrim’s Pride during the 3rd quarter worth approximately $34,000. Finally, Headlands Technologies LLC bought a new position in Pilgrim’s Pride during the 1st quarter worth approximately $38,000. 16.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Bank of America downgraded shares of Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 target price for the company. in a research note on Thursday, August 15th. Stephens began coverage on shares of Pilgrim’s Pride in a research report on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price objective for the company. BMO Capital Markets lifted 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. Argus boosted their target price on Pilgrim’s Pride from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Finally, Barclays raised their price target on Pilgrim’s Pride from $45.00 to $49.00 and gave the stock 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $45.50.

Pilgrim’s Pride Price Performance

Shares of NASDAQ PPC opened at $50.33 on Friday. The company has a fifty day moving average price of $46.19 and a 200 day moving average price of $41.71. The firm has a market cap of $11.93 billion, a PE ratio of 12.16, a PEG ratio of 0.23 and a beta of 0.81. 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 1-year low of $25.23 and a 1-year high of $55.50.

Pilgrim’s Pride (NASDAQ:PPC) last posted its quarterly earnings data 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 company had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.69 billion. During the same period in the prior year, the firm earned $0.58 earnings per share. Pilgrim’s Pride’s revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts predict that Pilgrim’s Pride Co. will post 4.91 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.