Impact Partnership Wealth LLC Invests $216,000 in Pilgrim’s Pride Co. (NASDAQ:PPC)

Impact Partnership Wealth LLC purchased a new stake in Pilgrim’s Pride Co. (NASDAQ:PPC) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 4,753 shares of the company’s stock, valued at approximately $216,000.

Several other hedge funds have also added to or reduced their stakes in the company. Vestcor Inc raised its position in shares of Pilgrim’s Pride by 1.1% in the 3rd quarter. Vestcor Inc now owns 19,783 shares of the company’s stock valued at $911,000 after acquiring an additional 212 shares during the period. CIBC Asset Management Inc grew its holdings in Pilgrim’s Pride by 3.3% during the third quarter. CIBC Asset Management Inc now owns 6,836 shares of the company’s stock valued at $315,000 after purchasing an additional 216 shares during the period. CWM LLC increased its stake in Pilgrim’s Pride by 19.1% in the third quarter. CWM LLC now owns 2,086 shares of the company’s stock valued at $96,000 after purchasing an additional 334 shares in the last quarter. Loomis Sayles & Co. L P raised its holdings in Pilgrim’s Pride by 3.2% in the third quarter. Loomis Sayles & Co. L P now owns 13,079 shares of the company’s stock worth $602,000 after purchasing an additional 401 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of Pilgrim’s Pride by 6.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,658 shares of the company’s stock worth $295,000 after purchasing an additional 440 shares in the last quarter. Institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Down 2.4 %

PPC stock opened at $45.57 on Friday. The business has a 50-day moving average of $48.12 and a 200-day moving average of $45.82. Pilgrim’s Pride Co. has a fifty-two week low of $26.52 and a fifty-two week high of $55.50. The stock has a market capitalization of $10.81 billion, a P/E ratio of 11.01, a P/E/G ratio of 0.20 and a beta of 0.84. 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 released its quarterly earnings results on Wednesday, October 30th. The company reported $1.63 earnings per share 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 firm had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.69 billion. During the same quarter in the prior year, the firm posted $0.58 EPS. The business’s revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts anticipate that Pilgrim’s Pride Co. will post 5.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on PPC shares. Stephens started coverage on shares of Pilgrim’s Pride in a research report on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price objective for the company. Barclays raised their price target on 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. Finally, BMO Capital Markets boosted 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. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $45.50.

About Pilgrim’s Pride

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.