Peapack Gladstone Financial Corp Sells 371 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Peapack Gladstone Financial Corp decreased its position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 2.9% during the third quarter, Holdings Channel.com reports. The fund owned 12,584 shares of the company’s stock after selling 371 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Pilgrim’s Pride were worth $579,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. ORG Wealth Partners LLC bought a new stake in Pilgrim’s Pride in the third quarter worth $29,000. Assetmark Inc. raised its holdings in shares of Pilgrim’s Pride by 145,879.0% in the third quarter. Assetmark Inc. now owns 827,701 shares of the company’s stock valued at $38,116,000 after acquiring an additional 827,134 shares in the last quarter. Algert Global LLC raised its holdings in shares of Pilgrim’s Pride by 63.3% in the third quarter. Algert Global LLC now owns 121,936 shares of the company’s stock valued at $5,615,000 after acquiring an additional 47,264 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Pilgrim’s Pride in the third quarter valued at about $878,000. Finally, Pacer Advisors Inc. raised its holdings in Pilgrim’s Pride by 1,289.4% in the third quarter. Pacer Advisors Inc. now owns 5,225,216 shares of the company’s stock worth $240,621,000 after purchasing an additional 4,849,147 shares in the last quarter. Institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Trading Up 0.3 %

Shares of NASDAQ:PPC opened at $49.96 on Monday. Pilgrim’s Pride Co. has a 1 year low of $25.68 and a 1 year high of $55.50. The firm has a market capitalization of $11.85 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 0.20 and a beta of 0.82. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.95 and a quick ratio of 1.27. The business’s 50 day moving average price is $49.29 and its 200-day moving average price is $43.85.

Pilgrim’s Pride (NASDAQ:PPC) last issued its earnings results 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. 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 during the quarter, compared to the consensus estimate of $4.69 billion. During the same period last year, the company earned $0.58 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, equities research analysts forecast that Pilgrim’s Pride Co. will post 5.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PPC. Argus boosted their target price 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 began coverage on shares of Pilgrim’s Pride in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 target price 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. Finally, BMO Capital Markets boosted their target price on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the stock a “market perform” rating in a 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. Based on data from MarketBeat.com, Pilgrim’s Pride currently has an average rating of “Hold” and an average target price of $45.50.

About Pilgrim’s Pride

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.