17,545 Shares in Pilgrim’s Pride Co. (NASDAQ:PPC) Bought by World Investment Advisors LLC

World Investment Advisors LLC acquired a new stake in Pilgrim’s Pride Co. (NASDAQ:PPC) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 17,545 shares of the company’s stock, valued at approximately $808,000.

Several other large investors have also recently made changes to their positions in the business. Harbor Capital Advisors Inc. bought a new position in Pilgrim’s Pride during the third quarter valued at $27,000. ORG Wealth Partners LLC bought a new position in shares of Pilgrim’s Pride during the 3rd quarter worth $29,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Pilgrim’s Pride in the 2nd quarter worth about $32,000. Raleigh Capital Management Inc. bought a new stake in Pilgrim’s Pride in the 3rd quarter valued at about $34,000. Finally, Quarry LP lifted its holdings in Pilgrim’s Pride by 295.8% during 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. 16.64% of the stock is owned by hedge funds and other institutional investors.

Pilgrim’s Pride Stock Up 2.5 %

PPC opened at $51.19 on Tuesday. The firm has a market capitalization of $12.14 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 0.20 and a beta of 0.82. Pilgrim’s Pride Co. has a one year low of $25.87 and a one year high of $55.50. The company has a fifty day moving average price of $49.40 and a 200-day moving average price of $43.96. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.95 and a quick ratio of 1.27.

Pilgrim’s Pride (NASDAQ:PPC) last posted its earnings results on Wednesday, October 30th. The company reported $1.63 EPS for the quarter, topping the consensus estimate 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 business earned $0.58 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. Equities research analysts expect that Pilgrim’s Pride Co. will post 5.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PPC shares. Barclays lifted 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. 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. Stephens started 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. Finally, Argus boosted their price objective on Pilgrim’s Pride from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $45.50.

Pilgrim’s Pride 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.