The Manufacturers Life Insurance Company increased its holdings in Pilgrim’s Pride Co. (NASDAQ:PPC – Get Rating ) by 66.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 241,186 shares of the company’s stock after buying an additional 96,640 shares during the quarter. The Manufacturers Life Insurance Company owned 0.10% of Pilgrim’s Pride worth $5,552,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. grew its holdings in shares of Pilgrim’s Pride by 158.6% during the third quarter. Newbridge Financial Services Group Inc. now owns 1,267 shares of the company’s stock valued at $29,000 after purchasing an additional 777 shares during the last quarter. Ronald Blue Trust Inc. raised its stake in shares of Pilgrim’s Pride by 635.6% during the third quarter. Ronald Blue Trust Inc. now owns 1,427 shares of the company’s stock valued at $45,000 after buying an additional 1,233 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of Pilgrim’s Pride by 114.3% in the second quarter. Captrust Financial Advisors now owns 1,479 shares of the company’s stock valued at $46,000 after purchasing an additional 789 shares during the last quarter. AdvisorShares Investments LLC purchased a new position in shares of Pilgrim’s Pride in the second quarter valued at $46,000. Finally, Atlas Capital Advisors LLC purchased a new position in shares of Pilgrim’s Pride in the second quarter valued at $53,000. The institutional investors and hedge funds own 16.81% of the company’s shares.
Pilgrim’s Pride shares fell 1.2%
PPC stock opened at $24.87 on Monday. The company has a quick ratio of 0.80, a current ratio of 1.55 and a debt-to-equity ratio of 1.16. The company has a market cap of $5.88 billion, a PE ratio of 6.41, a price-to-earnings-growth ratio of 2.25 and a beta of 0.96. Pilgrim’s Pride Co. has a 52-week low of $20.23 and a 52-week high of $34.66. The business has a 50-day simple moving average of $24.93 and a 200-day simple moving average of $26.01.
Wall Street analysts forecast growth
Several research firms recently weighed in on PPC. Goldman Sachs Group cut their target price on shares of Pilgrim’s Pride from $32.00 to $28.00 and set a “neutral” rating for the company in a research note on Tuesday, October 18th. StockNews.com raised shares of Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 24th. Finally, Barclays reduced their price objective on shares of Pilgrim’s Pride from $36.00 to $29.00 and set an “overweight” rating for the company in a research report on Tuesday, October 25th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Moderate Buy” and an average target price of $32.00, according to MarketBeat .
Pilgrim’s Pride Company Profile
(Get Rating)
Pilgrim’s Pride Corp. engages in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and food service operators. It operates in the following segments: US, UK and Europe and Mexico. The company was founded by Lonnie A.
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