Pilgrim’s Pride Corporation $PPC Shares Bought by Osaic Holdings Inc.

Osaic Holdings Inc. grew its holdings in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 480.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 74,431 shares of the company’s stock after buying an additional 61,601 shares during the period. Osaic Holdings Inc.’s holdings in Pilgrim’s Pride were worth $3,348,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PPC. Retirement Systems of Alabama raised its holdings in Pilgrim’s Pride by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 49,270 shares of the company’s stock valued at $2,216,000 after buying an additional 207 shares during the period. Parallel Advisors LLC increased its position in shares of Pilgrim’s Pride by 15.7% during the second quarter. Parallel Advisors LLC now owns 1,655 shares of the company’s stock valued at $74,000 after acquiring an additional 224 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of Pilgrim’s Pride by 1.3% in the 2nd quarter. New York State Common Retirement Fund now owns 17,817 shares of the company’s stock valued at $801,000 after acquiring an additional 230 shares during the period. Cullen Frost Bankers Inc. raised its stake in shares of Pilgrim’s Pride by 18.2% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,566 shares of the company’s stock valued at $70,000 after acquiring an additional 241 shares during the period. Finally, Comerica Bank lifted its holdings in shares of Pilgrim’s Pride by 2.9% in the 1st quarter. Comerica Bank now owns 12,359 shares of the company’s stock worth $674,000 after acquiring an additional 345 shares during the last quarter. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Pilgrim’s Pride in a report on Monday. Barclays lowered their price target on Pilgrim’s Pride from $49.00 to $45.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 9th. The Goldman Sachs Group cut their price objective on Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. Santander raised Pilgrim’s Pride from a “neutral” rating to an “outperform” rating in a research note on Thursday, December 11th. Finally, Wall Street Zen raised Pilgrim’s Pride from a “hold” rating to a “buy” rating in a research report on Friday, November 28th. One analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Pilgrim’s Pride presently has an average rating of “Hold” and an average target price of $46.33.

Pilgrim’s Pride Stock Performance

Shares of PPC stock opened at $39.90 on Friday. The company has a market cap of $9.48 billion, a P/E ratio of 7.73 and a beta of 0.43. The firm has a fifty day moving average price of $38.28 and a 200 day moving average price of $42.37. The company has a current ratio of 1.51, a quick ratio of 0.78 and a debt-to-equity ratio of 0.87. Pilgrim’s Pride Corporation has a 12 month low of $35.73 and a 12 month high of $57.16.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. Pilgrim’s Pride had a return on equity of 38.17% and a net margin of 6.70%.The company had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the previous year, the business earned $1.63 EPS. Pilgrim’s Pride’s revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts predict that Pilgrim’s Pride Corporation will post 5.13 earnings per share for the current fiscal year.

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.