Sumitomo Mitsui Trust Holdings Inc. Takes Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Pilgrim’s Pride Co. (NASDAQ:PPC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 107,800 shares of the company’s stock, valued at approximately $3,454,000.

Other institutional investors have also recently bought and sold shares of the company. Destination Wealth Management bought a new position in Pilgrim’s Pride in the 2nd quarter worth $53,000. Point72 Hong Kong Ltd bought a new stake in Pilgrim’s Pride in the second quarter valued at about $82,000. New York State Teachers Retirement System bought a new stake in Pilgrim’s Pride in the second quarter valued at about $119,000. Meeder Asset Management Inc. bought a new stake in Pilgrim’s Pride in the second quarter valued at about $138,000. Finally, Dupont Capital Management Corp bought a new stake in Pilgrim’s Pride in the third quarter valued at about $154,000. 20.09% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently weighed in on PPC. Peel Hunt reissued an “add” rating on shares of Pilgrim’s Pride in a research note on Monday, October 21st. Bank of America began coverage on shares of Pilgrim’s Pride in a research note on Friday, October 25th. They issued a “neutral” rating and a $32.00 target price on the stock. ValuEngine cut shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research raised shares of Pilgrim’s Pride from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research note on Tuesday, October 29th. Finally, Stephens upped their target price on shares of Pilgrim’s Pride from $33.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Pilgrim’s Pride presently has a consensus rating of “Buy” and an average price target of $31.33.

NASDAQ:PPC traded up $0.89 on Tuesday, reaching $32.27. The stock had a trading volume of 828,900 shares, compared to its average volume of 1,066,257. The company has a market capitalization of $7.80 billion, a P/E ratio of 25.21, a price-to-earnings-growth ratio of 0.87 and a beta of 0.76. Pilgrim’s Pride Co. has a 1-year low of $14.83 and a 1-year high of $32.71. The company has a quick ratio of 0.94, a current ratio of 1.82 and a debt-to-equity ratio of 1.08. The stock has a fifty day moving average price of $30.22 and a 200-day moving average price of $28.50.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.02. The firm had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.74 billion. Pilgrim’s Pride had a net margin of 3.24% and a return on equity of 17.87%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 earnings per share. Sell-side analysts predict that Pilgrim’s Pride Co. will post 1.87 earnings per share for the current fiscal year.

About Pilgrim’s Pride

Pilgrim's Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products in the United States, the United Kingdom, Europe, and Mexico. The company offers fresh chicken products, including pre-marinated or non-marinated refrigerated (nonfrozen) whole or cut-up chicken; and prepackaged case-ready chicken, such as whole chickens and chicken parts.

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Institutional Ownership by Quarter for Pilgrim`s Pride (NASDAQ:PPC)

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