Prudential Financial Inc. lifted its stake in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 151.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 759,645 shares of the company’s stock after buying an additional 457,000 shares during the quarter. Prudential Financial Inc. owned approximately 0.31% of Pilgrim’s Pride Corporation worth $21,582,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Legal & General Group Plc boosted its stake in shares of Pilgrim’s Pride Corporation by 1.9% in the second quarter. Legal & General Group Plc now owns 18,769 shares of the company’s stock worth $412,000 after buying an additional 347 shares during the last quarter. First Midwest Bank Trust Division raised its holdings in Pilgrim’s Pride Corporation by 2.4% in the 2nd quarter. First Midwest Bank Trust Division now owns 30,961 shares of the company’s stock worth $679,000 after purchasing an additional 738 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Pilgrim’s Pride Corporation by 9.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,203 shares of the company’s stock worth $201,000 after purchasing an additional 798 shares during the period. Voya Investment Management LLC raised its holdings in Pilgrim’s Pride Corporation by 4.3% in the 2nd quarter. Voya Investment Management LLC now owns 19,808 shares of the company’s stock worth $434,000 after purchasing an additional 813 shares during the period. Finally, Public Employees Retirement System of Ohio raised its holdings in Pilgrim’s Pride Corporation by 3.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 24,643 shares of the company’s stock worth $555,000 after purchasing an additional 897 shares during the period. Hedge funds and other institutional investors own 24.50% of the company’s stock.

Pilgrim’s Pride Corporation (NASDAQ PPC) opened at $35.01 on Friday. Pilgrim’s Pride Corporation has a fifty-two week low of $17.15 and a fifty-two week high of $35.30. The company has a market capitalization of $8,517.29, a P/E ratio of 13.27 and a beta of 0.21. The company has a current ratio of 1.65, a quick ratio of 0.81 and a debt-to-equity ratio of 1.49.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last announced its earnings results on Tuesday, November 7th. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.21. Pilgrim’s Pride Corporation had a return on equity of 53.62% and a net margin of 7.03%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the prior year, the firm earned $0.40 earnings per share. The business’s revenue was up 12.0% compared to the same quarter last year. equities research analysts expect that Pilgrim’s Pride Corporation will post 2.77 EPS for the current fiscal year.

A number of equities analysts recently weighed in on PPC shares. ValuEngine raised Pilgrim’s Pride Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Vertical Group cut Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, September 5th. They noted that the move was a valuation call. Vertical Research cut Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, September 5th. Morgan Stanley started coverage on Pilgrim’s Pride Corporation in a report on Friday, November 3rd. They issued an “equal weight” rating and a $30.00 price target for the company. Finally, BidaskClub cut Pilgrim’s Pride Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Six analysts have rated the stock with a hold rating and three have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $30.20.

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Pilgrim’s Pride Corporation Company Profile

Pilgrim’s Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.

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

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