Wealth Enhancement Advisory Services LLC Purchases 15,642 Shares of Pilgrim’s Pride Corporation $PPC

Wealth Enhancement Advisory Services LLC increased its position in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 76.1% in the third quarter, HoldingsChannel reports. The firm owned 36,195 shares of the company’s stock after purchasing an additional 15,642 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Pilgrim’s Pride were worth $1,396,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC increased its holdings in shares of Pilgrim’s Pride by 363.2% during the third quarter. CWA Asset Management Group LLC now owns 101,158 shares of the company’s stock valued at $4,119,000 after acquiring an additional 79,319 shares in the last quarter. Allianz SE purchased a new stake in Pilgrim’s Pride during the 2nd quarter valued at about $533,000. Inspire Investing LLC grew its position in Pilgrim’s Pride by 56.5% during the 2nd quarter. Inspire Investing LLC now owns 25,635 shares of the company’s stock valued at $1,153,000 after purchasing an additional 9,256 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Pilgrim’s Pride by 679.5% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,809 shares of the company’s stock valued at $1,161,000 after purchasing an additional 22,498 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its holdings in Pilgrim’s Pride by 165.7% in the second quarter. Campbell & CO Investment Adviser LLC now owns 20,579 shares of the company’s stock worth $926,000 after buying an additional 12,834 shares during the last quarter. 16.64% of the stock is owned by hedge funds and other institutional investors.

Pilgrim’s Pride Stock Down 0.1%

Shares of PPC stock opened at $43.37 on Friday. 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. The stock has a market cap of $10.30 billion, a P/E ratio of 8.41 and a beta of 0.43. The company has a 50 day simple moving average of $39.86 and a two-hundred day simple moving average of $41.49.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.11. Pilgrim’s Pride had a net margin of 6.70% and a return on equity of 38.17%. The business had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter last year, the company posted $1.63 EPS. The company’s revenue was up 3.8% compared to the same quarter last year. On average, research analysts expect that Pilgrim’s Pride Corporation will post 5.13 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Wall Street Zen cut shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Barclays lowered their price objective on Pilgrim’s Pride from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 9th. The Goldman Sachs Group dropped their price objective on Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Weiss Ratings restated a “hold (c)” rating on shares of Pilgrim’s Pride in a research report on Monday, December 29th. Finally, Santander upgraded Pilgrim’s Pride from a “neutral” rating to an “outperform” rating in a research note on Thursday, December 11th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $46.33.

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.