Exchange Traded Concepts LLC Raises Holdings in Pilgrim’s Pride Co. (NASDAQ:PPC)

Exchange Traded Concepts LLC raised its stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 8.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 113,549 shares of the company’s stock after acquiring an additional 9,035 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Pilgrim’s Pride were worth $5,154,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new position in shares of Pilgrim’s Pride in the third quarter worth about $27,000. ORG Wealth Partners LLC purchased a new stake in shares of Pilgrim’s Pride in the 3rd quarter valued at $29,000. Raleigh Capital Management Inc. purchased a new position in shares of Pilgrim’s Pride during the third quarter worth $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Pilgrim’s Pride during the second quarter valued at $32,000. Finally, Quarry LP boosted its holdings in Pilgrim’s Pride by 295.8% in the third quarter. Quarry LP now owns 946 shares of the company’s stock valued at $44,000 after purchasing an additional 707 shares during the last quarter. Institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Down 2.4 %

Pilgrim’s Pride stock opened at $45.57 on Friday. The company’s 50-day moving average price is $48.12 and its two-hundred day moving average price is $45.82. The company has a current ratio of 1.95, a quick ratio of 1.27 and a debt-to-equity ratio of 0.75. The stock has a market cap of $10.81 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 0.20 and a beta of 0.84. Pilgrim’s Pride Co. has a 52 week low of $26.52 and a 52 week high of $55.50.

Pilgrim’s Pride (NASDAQ:PPC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.36. The company had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.69 billion. Pilgrim’s Pride had a net margin of 5.46% and a return on equity of 29.92%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.58 earnings per share. On average, analysts expect that Pilgrim’s Pride Co. will post 5.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PPC has been the topic of a number of recent analyst reports. Stephens started coverage on Pilgrim’s Pride in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $43.00 price target on the stock. Barclays lifted their price objective on Pilgrim’s Pride from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Finally, BMO Capital Markets increased their target price on Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Pilgrim’s Pride currently has an average rating of “Hold” and an average target price of $45.50.

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.