Hillsdale Investment Management Inc. Has $448,000 Stock Holdings in Pilgrim’s Pride Corporation $PPC

Hillsdale Investment Management Inc. decreased its position in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 61.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,000 shares of the company’s stock after selling 17,300 shares during the period. Hillsdale Investment Management Inc.’s holdings in Pilgrim’s Pride were worth $448,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. True Wealth Design LLC lifted its holdings in Pilgrim’s Pride by 1,248.5% during the third quarter. True Wealth Design LLC now owns 917 shares of the company’s stock worth $37,000 after acquiring an additional 849 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of Pilgrim’s Pride during the third quarter worth about $41,000. Quent Capital LLC bought a new position in shares of Pilgrim’s Pride during the 3rd quarter valued at about $55,000. Rothschild Investment LLC grew its position in shares of Pilgrim’s Pride by 186,700.0% in the 3rd quarter. Rothschild Investment LLC now owns 1,868 shares of the company’s stock valued at $76,000 after purchasing an additional 1,867 shares during the period. Finally, BNP Paribas bought a new stake in Pilgrim’s Pride during the 2nd quarter worth approximately $112,000. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Performance

Shares of PPC opened at $41.81 on Wednesday. The stock has a market capitalization of $9.93 billion, a price-to-earnings ratio of 9.21 and a beta of 0.43. Pilgrim’s Pride Corporation has a 12 month low of $35.73 and a 12 month high of $56.88. The firm has a fifty day simple moving average of $41.29 and a 200 day simple moving average of $40.90. The company has a current ratio of 1.47, a quick ratio of 0.76 and a debt-to-equity ratio of 0.84.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.14). Pilgrim’s Pride had a return on equity of 35.15% and a net margin of 5.85%.The business had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same period last year, the firm earned $1.35 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Research analysts forecast that Pilgrim’s Pride Corporation will post 5.13 EPS for the current fiscal year.

Analyst Ratings Changes

PPC has been the topic of a number of research reports. Barclays cut their price target on shares of Pilgrim’s Pride from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pilgrim’s Pride in a research report on Monday, December 29th. Wall Street Zen lowered shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research note on Sunday, February 15th. BMO Capital Markets lifted their price target on Pilgrim’s Pride from $40.00 to $42.00 and gave the company a “market perform” rating in a research note on Friday, February 13th. Finally, Zacks Research lowered Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 11th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $44.33.

About Pilgrim’s Pride

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.