Mirabella Financial Services LLP Acquires 17,260 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Mirabella Financial Services LLP increased its holdings in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 89.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,559 shares of the company’s stock after acquiring an additional 17,260 shares during the period. Mirabella Financial Services LLP’s holdings in Pilgrim’s Pride were worth $1,684,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new position in shares of Pilgrim’s Pride during the third quarter valued at approximately $27,000. ORG Wealth Partners LLC bought a new stake in Pilgrim’s Pride during the third quarter valued at approximately $29,000. Raleigh Capital Management Inc. bought a new stake in Pilgrim’s Pride during the third quarter valued at approximately $34,000. ORG Partners LLC bought a new stake in Pilgrim’s Pride during the second quarter valued at approximately $32,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Pilgrim’s Pride during the second quarter valued at approximately $32,000. Institutional investors own 16.64% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PPC. Bank of America lowered 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 report on Thursday, August 15th. BMO Capital Markets boosted their target price on shares of 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. Argus boosted their target price on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Stephens assumed 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 target for the company. Finally, Barclays upped their price target on shares of 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 equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $45.50.

Pilgrim’s Pride Trading Up 0.8 %

Shares of PPC opened at $52.14 on Monday. Pilgrim’s Pride Co. has a twelve month low of $25.23 and a twelve month high of $55.50. The company has a market cap of $12.36 billion, a P/E ratio of 12.49, a P/E/G ratio of 0.22 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. The company’s fifty day simple moving average is $47.28 and its 200-day simple moving average is $42.45.

Pilgrim’s Pride (NASDAQ:PPC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.27 by $0.36. The company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.69 billion. Pilgrim’s Pride had a net margin of 5.46% and a return on equity of 29.92%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.58 EPS. As a group, analysts expect that Pilgrim’s Pride Co. will post 4.91 EPS for the current 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.