Bleakley Financial Group LLC Grows Holdings in Pilgrim’s Pride Corporation $PPC

Bleakley Financial Group LLC grew its stake in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 218.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,124 shares of the company’s stock after buying an additional 32,993 shares during the period. Bleakley Financial Group LLC’s holdings in Pilgrim’s Pride were worth $1,876,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Torren Management LLC purchased a new position in shares of Pilgrim’s Pride during the 4th quarter valued at about $31,000. Kingdom Financial Group LLC. purchased a new position in shares of Pilgrim’s Pride during the 4th quarter valued at about $37,000. Clearstead Advisors LLC raised its holdings in shares of Pilgrim’s Pride by 1,522.6% during the 3rd quarter. Clearstead Advisors LLC now owns 1,006 shares of the company’s stock valued at $41,000 after buying an additional 944 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of Pilgrim’s Pride during the 3rd quarter valued at about $41,000. Finally, Signaturefd LLC raised its holdings in shares of Pilgrim’s Pride by 23.5% during the 4th quarter. Signaturefd LLC now owns 1,350 shares of the company’s stock valued at $53,000 after buying an additional 257 shares in the last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Trading Down 1.7%

Shares of PPC opened at $28.54 on Friday. The stock has a market capitalization of $6.79 billion, a P/E ratio of 7.65 and a beta of 0.33. The company has a quick ratio of 0.73, a current ratio of 1.48 and a debt-to-equity ratio of 0.83. The firm has a fifty day simple moving average of $32.84 and a two-hundred day simple moving average of $37.58. Pilgrim’s Pride Corporation has a twelve month low of $27.13 and a twelve month high of $50.56.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.18). The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.43 billion. Pilgrim’s Pride had a net margin of 4.78% and a return on equity of 28.57%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.31 EPS. On average, research analysts anticipate that Pilgrim’s Pride Corporation will post 3.52 EPS for the current year.

Analyst Ratings Changes

PPC has been the topic of a number of research reports. BMO Capital Markets decreased their price objective on Pilgrim’s Pride from $42.00 to $40.00 and set a “market perform” rating on the stock in a report on Wednesday, March 25th. UBS Group began coverage on shares of Pilgrim’s Pride in a research note on Tuesday, May 19th. They issued a “neutral” rating and a $30.00 price objective for the company. Barclays raised shares of Pilgrim’s Pride from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $45.00 to $42.00 in a research note on Friday, May 1st. Zacks Research cut shares of Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 11th. Finally, Wall Street Zen cut shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research note on Sunday, February 15th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Pilgrim’s Pride presently has a consensus rating of “Hold” and a consensus target price of $38.20.

Pilgrim’s Pride Company Profile

Pilgrim’s Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim’s Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.

The company’s vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.