Harvest Fund Management Co. Ltd Sells 936 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Harvest Fund Management Co. Ltd lessened its holdings in Pilgrim’s Pride Co. (NASDAQ:PPC) by 8.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,857 shares of the company’s stock after selling 936 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Pilgrim’s Pride were worth $454,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PPC. Harbor Capital Advisors Inc. acquired a new stake in shares of Pilgrim’s Pride in the 3rd quarter valued at $27,000. ORG Wealth Partners LLC acquired a new stake in shares of Pilgrim’s Pride during the third quarter worth approximately $29,000. ORG Partners LLC bought a new position in shares of Pilgrim’s Pride in the second quarter valued at approximately $32,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Pilgrim’s Pride in the 2nd quarter worth approximately $32,000. Finally, Raleigh Capital Management Inc. bought a new stake in Pilgrim’s Pride during the 3rd quarter worth approximately $34,000. Institutional investors own 16.64% of the company’s stock.

Analyst Upgrades and Downgrades

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

Pilgrim’s Pride Price Performance

Shares of PPC stock opened at $50.73 on Wednesday. The firm’s 50 day moving average price is $47.47 and its two-hundred day moving average price is $42.54. The stock has a market cap of $12.03 billion, a PE ratio of 12.25, a PEG ratio of 0.22 and a beta of 0.81. Pilgrim’s Pride Co. has a 52-week low of $25.23 and a 52-week high of $55.50. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.27 and a current ratio of 1.95.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.36. Pilgrim’s Pride had a return on equity of 29.92% and a net margin of 5.46%. The business had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.69 billion. During the same period in the previous year, the firm earned $0.58 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, analysts forecast that Pilgrim’s Pride Co. will post 4.91 EPS for the current year.

Pilgrim’s Pride Company Profile

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.