Pilgrim's Pride Co. (PPC) Position Reduced by Delphi Management Inc. MA
Delphi Management Inc. MA trimmed its position in shares of Pilgrim's Pride Co. (NASDAQ:PPC) by 7.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,689 shares of the company’s stock after selling 7,627 shares during the period. Pilgrim's Pride makes up about 1.4% of Delphi Management Inc. MA’s holdings, making the stock its 25th largest holding. Delphi Management Inc. MA’s holdings in Pilgrim's Pride were worth $2,548,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Seven Eight Capital LP acquired a new position in Pilgrim's Pride during the second quarter worth $134,000. New York State Teachers Retirement System acquired a new position in Pilgrim's Pride during the third quarter worth $134,000. Ladenburg Thalmann Financial Services Inc. lifted its stake in Pilgrim's Pride by 57.1% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,882 shares of the company’s stock worth $167,000 after purchasing an additional 2,139 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Pilgrim's Pride by 9.5% during the second 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 in the last quarter. Finally, Amalgamated Bank acquired a new position in Pilgrim's Pride during the second quarter worth $219,000. Institutional investors own 24.62% of the company’s stock.
A number of research firms have recently weighed in on PPC. BidaskClub lowered Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Jefferies Group set a $32.00 price objective on Pilgrim's Pride and gave the stock a “hold” rating in a research report on Thursday, November 16th. Morgan Stanley upped their price objective on Pilgrim's Pride from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, November 10th. BMO Capital Markets upped their price objective on Pilgrim's Pride from $24.00 to $38.00 and gave the stock a “market perform” rating in a research report on Thursday, November 9th. Finally, KeyCorp began coverage on Pilgrim's Pride in a research report on Tuesday, October 31st. They set a “hold” rating on the stock. Six research analysts have rated the stock with a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $32.50.
Pilgrim's Pride Co. (NASDAQ:PPC) opened at $35.01 on Thursday. The company has a market capitalization of $8,843.15, a price-to-earnings ratio of 13.78 and a beta of 0.29. The company has a quick ratio of 0.81, a current ratio of 1.65 and a debt-to-equity ratio of 1.49. Pilgrim's Pride Co. has a twelve month low of $17.78 and a twelve month high of $38.39.
Pilgrim's Pride (NASDAQ:PPC) last posted its earnings results on Tuesday, November 7th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.77 by $0.21. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.32 billion. Pilgrim's Pride had a return on equity of 53.62% and a net margin of 7.03%. Pilgrim's Pride’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.40 earnings per share. equities analysts expect that Pilgrim's Pride Co. will post 2.85 EPS for the current fiscal year.
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About Pilgrim's Pride
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.
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