Pilgrim’s Pride Corporation (NASDAQ:PPC) Shares Bought by LPL Financial LLC

LPL Financial LLC increased its holdings in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 135.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 98,394 shares of the company’s stock after purchasing an additional 56,568 shares during the quarter. LPL Financial LLC’s holdings in Pilgrim’s Pride were worth $5,363,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Accredited Wealth Management LLC acquired a new position in Pilgrim’s Pride in the 4th quarter worth about $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Pilgrim’s Pride during the 4th quarter worth approximately $55,000. Raleigh Capital Management Inc. purchased a new stake in Pilgrim’s Pride during the 1st quarter worth approximately $74,000. Central Pacific Bank Trust Division purchased a new stake in Pilgrim’s Pride during the 1st quarter worth approximately $133,000. Finally, KBC Group NV purchased a new stake in Pilgrim’s Pride during the 1st quarter worth approximately $144,000. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Price Performance

PPC stock opened at $49.84 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.63 and a quick ratio of 0.88. The business has a 50 day simple moving average of $46.49 and a 200-day simple moving average of $49.38. The firm has a market capitalization of $11.84 billion, a PE ratio of 9.60 and a beta of 0.50. Pilgrim’s Pride Corporation has a 1 year low of $40.09 and a 1 year high of $57.16.

Pilgrim’s Pride (NASDAQ:PPC) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.16. The business had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.62 billion. Pilgrim’s Pride had a return on equity of 37.15% and a net margin of 6.81%. The business’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.67 earnings per share. Equities research analysts anticipate that Pilgrim’s Pride Corporation will post 5.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PPC has been the subject of several research reports. The Goldman Sachs Group initiated coverage on Pilgrim’s Pride in a research note on Monday, June 23rd. They set a “neutral” rating and a $50.00 price objective for the company. Wall Street Zen lowered Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 18th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $48.67.

Pilgrim’s Pride Profile

Pilgrim’s Pride Corp. engages in the production, processing, marketing, and distribution of fresh, frozen and value-added chicken and pork products to retailers, distributors, and foodservice operators. It operates through the following segments: U.S., U.K. and Europe, and Mexico. The company was founded by Lonnie A.