TFB Advisors LLC Acquires Shares of 6,469 Pilgrim’s Pride Co. (NASDAQ:PPC)

TFB Advisors LLC bought a new position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) during the third quarter, HoldingsChannel reports. The fund bought 6,469 shares of the company’s stock, valued at approximately $298,000.

Other institutional investors have also modified their holdings of the company. Robeco Institutional Asset Management B.V. grew its position in Pilgrim’s Pride by 28.9% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 87,070 shares of the company’s stock worth $4,010,000 after purchasing an additional 19,518 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Pilgrim’s Pride during the third quarter worth about $27,000. Janney Montgomery Scott LLC increased its position in Pilgrim’s Pride by 61.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 29,285 shares of the company’s stock valued at $1,349,000 after acquiring an additional 11,167 shares during the period. Affinity Investment Advisors LLC acquired a new stake in Pilgrim’s Pride during the 3rd quarter worth approximately $463,000. Finally, US Bancorp DE grew its stake in shares of Pilgrim’s Pride by 193.0% in the 3rd quarter. US Bancorp DE now owns 2,795 shares of the company’s stock valued at $129,000 after purchasing an additional 1,841 shares during the last quarter. 16.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PPC has been the subject of several recent research reports. BMO Capital Markets increased their price target 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. Bank of America downgraded shares of Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 target price on the stock. in a report on Thursday, August 15th. Argus increased their price target on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Stephens started coverage on Pilgrim’s Pride in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price objective on the stock. Finally, Barclays boosted their target price 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 analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $45.50.

Pilgrim’s Pride Trading Up 2.8 %

Shares of PPC stock opened at $53.82 on Friday. 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 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 fifty-two week low of $25.23 and a fifty-two week high of $55.50. The business has a fifty day simple moving average of $45.68 and a 200-day simple moving average of $41.25.

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, beating the consensus estimate 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 firm had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.69 billion. During the same period last year, the firm posted $0.58 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, analysts forecast 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.