Mutual of America Capital Management LLC Decreases Stock Holdings in Pilgrim’s Pride Co. (NASDAQ:PPC)

Mutual of America Capital Management LLC lowered its holdings in Pilgrim’s Pride Co. (NASDAQ:PPCFree Report) by 5.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,788 shares of the company’s stock after selling 1,276 shares during the period. Mutual of America Capital Management LLC’s holdings in Pilgrim’s Pride were worth $1,003,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. CIBC Asset Management Inc boosted its holdings in shares of Pilgrim’s Pride by 3.3% in the 3rd quarter. CIBC Asset Management Inc now owns 6,836 shares of the company’s stock worth $315,000 after buying an additional 216 shares during the last quarter. Arizona State Retirement System boosted its stake in Pilgrim’s Pride by 1.9% in the second quarter. Arizona State Retirement System now owns 13,259 shares of the company’s stock valued at $510,000 after acquiring an additional 244 shares during the last quarter. Bayesian Capital Management LP grew its position in shares of Pilgrim’s Pride by 2.6% during the 1st quarter. Bayesian Capital Management LP now owns 11,382 shares of the company’s stock valued at $391,000 after acquiring an additional 290 shares during the period. Norden Group LLC increased its stake in shares of Pilgrim’s Pride by 3.6% during the 2nd quarter. Norden Group LLC now owns 9,290 shares of the company’s stock worth $358,000 after purchasing an additional 322 shares during the last quarter. Finally, CWM LLC increased its position in Pilgrim’s Pride by 19.1% in the third quarter. CWM LLC now owns 2,086 shares of the company’s stock worth $96,000 after buying an additional 334 shares during the last quarter. Institutional investors own 16.64% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PPC shares. Argus lifted their target price on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. BMO Capital Markets boosted their target price on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Barclays increased their target price on Pilgrim’s Pride from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Stephens initiated coverage on Pilgrim’s Pride in a research report on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price target for the company. Finally, Bank of America cut Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a report on Thursday, August 15th. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $45.50.

Check Out Our Latest Stock Report on PPC

Pilgrim’s Pride Price Performance

Shares of NASDAQ:PPC opened at $50.31 on Tuesday. Pilgrim’s Pride Co. has a one year low of $25.23 and a one year high of $55.50. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.95 and a quick ratio of 1.27. The firm has a market capitalization of $11.93 billion, a price-to-earnings ratio of 12.15, a PEG ratio of 0.22 and a beta of 0.81. The company’s fifty day moving average price is $47.47 and its 200-day moving average price is $42.54.

Pilgrim’s Pride (NASDAQ:PPCGet Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.36. The business had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.69 billion. Pilgrim’s Pride had a return on equity of 29.92% and a net margin of 5.46%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $0.58 earnings per share. On average, equities research analysts anticipate that Pilgrim’s Pride Co. will post 4.91 earnings per share for the current fiscal year.

Pilgrim’s Pride Company Profile

(Free Report)

Pilgrim's Pride Corporation produces, processes, markets, and distributes fresh, frozen, and value-added chicken and pork products to retailers, distributors, and foodservice operators. The company offers fresh products, including refrigerated whole or cut-up chicken, selected chicken parts that are either marinated or non-marinated, primary pork cuts, added value pork, and pork ribs; and prepared products, which include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, processed sausages, bacon, smoked meat, gammon joints, pre-packed meats, sandwich and deli counter meats and meat balls.

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Institutional Ownership by Quarter for Pilgrim's Pride (NASDAQ:PPC)

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