Pacer Advisors Inc. Has $240.62 Million Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

Pacer Advisors Inc. increased its holdings in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 1,289.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 5,225,216 shares of the company’s stock after purchasing an additional 4,849,147 shares during the period. Pacer Advisors Inc.’s holdings in Pilgrim’s Pride were worth $240,621,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PPC. Harbor Capital Advisors Inc. bought a new stake in Pilgrim’s Pride in the 3rd quarter valued at approximately $27,000. ORG Wealth Partners LLC bought a new stake in Pilgrim’s Pride in the 3rd quarter valued at approximately $29,000. ORG Partners LLC bought a new stake in Pilgrim’s Pride in the 2nd quarter valued at approximately $32,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Pilgrim’s Pride in the 2nd quarter valued at approximately $32,000. Finally, Raleigh Capital Management Inc. bought a new stake in Pilgrim’s Pride in the 3rd quarter valued at approximately $34,000. Institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Price Performance

PPC stock opened at $52.21 on Thursday. The company has a current ratio of 1.95, a quick ratio of 1.27 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $12.38 billion, a PE ratio of 12.61, a PEG ratio of 0.22 and a beta of 0.81. Pilgrim’s Pride Co. has a 1-year low of $25.23 and a 1-year high of $55.50. The business’s 50 day simple moving average is $46.83 and its 200 day simple moving average is $42.20.

Pilgrim’s Pride (NASDAQ:PPC) last posted its earnings results 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 return on equity of 29.92% and a net margin of 5.46%. The business had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.69 billion. During the same period in the previous year, the firm earned $0.58 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. As a group, research analysts anticipate that Pilgrim’s Pride Co. will post 4.91 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on PPC. Barclays boosted their target price on Pilgrim’s Pride from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Argus upped their price objective on Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Bank of America cut Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a research note on Thursday, August 15th. Stephens started coverage on Pilgrim’s Pride in a research note on Thursday, October 3rd. They set an “equal weight” rating and a $43.00 price objective on the stock. Finally, BMO Capital Markets upped their price objective on 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 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $45.50.

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.