Highland Capital Management LLC Has $210,000 Holdings in Pilgrim’s Pride Co. (NASDAQ:PPC)

Highland Capital Management LLC trimmed its position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 86.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,635 shares of the company’s stock after selling 28,609 shares during the period. Highland Capital Management LLC’s holdings in Pilgrim’s Pride were worth $210,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in shares of Pilgrim’s Pride during the 4th quarter worth approximately $59,000. Blue Trust Inc. raised its position in shares of Pilgrim’s Pride by 72.5% in the fourth quarter. Blue Trust Inc. now owns 5,516 shares of the company’s stock valued at $254,000 after purchasing an additional 2,319 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in shares of Pilgrim’s Pride during the 4th quarter worth about $205,000. Exchange Traded Concepts LLC boosted its holdings in shares of Pilgrim’s Pride by 8.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 113,549 shares of the company’s stock worth $5,154,000 after buying an additional 9,035 shares during the period. Finally, Impact Partnership Wealth LLC acquired a new position in Pilgrim’s Pride in the 4th quarter valued at about $216,000. 16.64% of the stock is owned by institutional investors.

Pilgrim’s Pride Trading Down 1.6 %

Shares of PPC stock opened at $46.54 on Friday. The stock has a 50 day simple moving average of $47.58 and a 200 day simple moving average of $46.12. Pilgrim’s Pride Co. has a 1 year low of $26.52 and a 1 year high of $55.50. 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 $11.04 billion, a P/E ratio of 11.24, a price-to-earnings-growth ratio of 0.21 and a beta of 0.84.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PPC shares. Barclays raised their price objective on shares of 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. BMO Capital Markets boosted their price target on Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. 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 stock. According to data from MarketBeat, Pilgrim’s Pride has a consensus rating of “Hold” and a consensus price target 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.