MML Investors Services LLC Purchases Shares of 5,821 Pilgrim’s Pride Co. (NASDAQ:PPC)

MML Investors Services LLC purchased a new stake in Pilgrim’s Pride Co. (NASDAQ:PPC) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,821 shares of the company’s stock, valued at approximately $268,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new position in Pilgrim’s Pride in the third quarter valued at $27,000. ORG Wealth Partners LLC acquired a new position in shares of Pilgrim’s Pride during the 3rd quarter worth about $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Pilgrim’s Pride during the 2nd quarter worth about $32,000. Raleigh Capital Management Inc. acquired a new stake in shares of Pilgrim’s Pride in the third quarter valued at about $34,000. Finally, Quarry LP raised its holdings in Pilgrim’s Pride by 295.8% during the third quarter. Quarry LP now owns 946 shares of the company’s stock worth $44,000 after acquiring an additional 707 shares in the last quarter. 16.64% of the stock is owned by institutional investors and hedge funds.

Pilgrim’s Pride Stock Performance

NASDAQ PPC opened at $46.30 on Thursday. The stock has a market cap of $10.98 billion, a PE ratio of 11.18, a P/E/G ratio of 0.20 and a beta of 0.82. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.27 and a current ratio of 1.95. The firm has a 50-day moving average of $49.68 and a 200-day moving average of $44.51. Pilgrim’s Pride Co. has a 52-week low of $26.52 and a 52-week high of $55.50.

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 analysts’ consensus estimates of $1.27 by $0.36. The company had revenue of $4.58 billion during 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 business’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.58 earnings per share. On average, sell-side analysts anticipate that Pilgrim’s Pride Co. will post 5.12 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PPC shares. Stephens assumed coverage on Pilgrim’s Pride in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price target for the company. Barclays boosted 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. Argus upped their price target on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, BMO Capital Markets boosted their price objective 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. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $45.50.

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.