Impact Partnership Wealth LLC Acquires New Holdings in Pilgrim’s Pride Co. (NASDAQ:PPC)

Impact Partnership Wealth LLC bought a new position in Pilgrim’s Pride Co. (NASDAQ:PPC) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,753 shares of the company’s stock, valued at approximately $216,000.

Other hedge funds also recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new stake in Pilgrim’s Pride in the third quarter worth $27,000. ORG Wealth Partners LLC acquired a new stake in shares of Pilgrim’s Pride in the third quarter worth about $29,000. Raleigh Capital Management Inc. bought a new stake in shares of Pilgrim’s Pride during the 3rd quarter worth about $34,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Pilgrim’s Pride during the 2nd quarter valued at about $32,000. Finally, Quarry LP raised its stake in shares of Pilgrim’s Pride by 295.8% in the 3rd quarter. Quarry LP now owns 946 shares of the company’s stock valued at $44,000 after acquiring an additional 707 shares in the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Performance

NASDAQ:PPC opened at $45.57 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.27 and a current ratio of 1.95. The firm’s 50-day moving average is $48.12 and its 200-day moving average is $45.82. Pilgrim’s Pride Co. has a 52-week low of $26.52 and a 52-week high of $55.50. The company 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 (NASDAQ:PPC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.63 EPS for the quarter, beating 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 firm had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.69 billion. During the same quarter in the prior year, the firm posted $0.58 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts anticipate that Pilgrim’s Pride Co. will post 5.12 earnings per share for the current year.

Analysts Set New Price Targets

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

Pilgrim’s Pride Company 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.