Range Financial Group LLC Invests $949,000 in Pilgrim’s Pride Co. (NASDAQ:PPC)

Range Financial Group LLC acquired a new stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPCFree Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 20,911 shares of the company’s stock, valued at approximately $949,000.

Other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. increased its holdings in shares of Pilgrim’s Pride by 1,289.4% in the 3rd quarter. Pacer Advisors Inc. now owns 5,225,216 shares of the company’s stock worth $240,621,000 after buying an additional 4,849,147 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in Pilgrim’s Pride by 903.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,455,513 shares of the company’s stock worth $67,026,000 after acquiring an additional 1,310,530 shares in the last quarter. Assetmark Inc. increased its stake in 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 during the last quarter. AQR Capital Management LLC raised its position in Pilgrim’s Pride by 366.1% during the second quarter. AQR Capital Management LLC now owns 638,825 shares of the company’s stock valued at $24,320,000 after purchasing an additional 501,776 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in Pilgrim’s Pride by 88.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 433,891 shares of the company’s stock worth $19,981,000 after purchasing an additional 203,408 shares during the last quarter. Institutional investors own 16.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Barclays raised their price objective on Pilgrim’s Pride from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Stephens initiated coverage on shares of Pilgrim’s Pride in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price objective for the company. Finally, BMO Capital Markets upped their price objective on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $45.50.

Get Our Latest Report on PPC

Pilgrim’s Pride Trading Down 2.5 %

Shares of NASDAQ PPC traded down $1.18 during mid-day trading on Tuesday, hitting $45.33. The stock had a trading volume of 747,253 shares, compared to its average volume of 975,713. The business has a 50 day moving average price of $49.74 and a two-hundred day moving average price of $45.20. Pilgrim’s Pride Co. has a 1 year low of $26.52 and a 1 year high of $55.50. 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 market cap of $10.75 billion, a P/E ratio of 10.95, a price-to-earnings-growth ratio of 0.20 and a beta of 0.84.

Pilgrim’s Pride (NASDAQ:PPCGet Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.36. The firm had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.69 billion. Pilgrim’s Pride had a net margin of 5.46% and a return on equity of 29.92%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.58 earnings per share. On average, equities analysts anticipate that Pilgrim’s Pride Co. will post 5.12 EPS for the current fiscal year.

About Pilgrim’s Pride

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Pilgrim's Pride (NASDAQ:PPC)

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