Inman Jager Wealth Management LLC Purchases New Position in Pilgrim’s Pride Corporation (NASDAQ:PPC)

Inman Jager Wealth Management LLC purchased a new stake in Pilgrim’s Pride Corporation (NASDAQ:PPC) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,200 shares of the company’s stock, valued at approximately $229,000.

Other large investors have also recently added to or reduced their stakes in the company. Accredited Wealth Management LLC bought a new stake in shares of Pilgrim’s Pride during the fourth quarter worth $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Pilgrim’s Pride during the 4th quarter worth about $55,000. Central Pacific Bank Trust Division bought a new stake in Pilgrim’s Pride during the 1st quarter worth about $133,000. US Bancorp DE increased its position in Pilgrim’s Pride by 23.3% in the 4th quarter. US Bancorp DE now owns 3,445 shares of the company’s stock valued at $156,000 after acquiring an additional 650 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Pilgrim’s Pride by 19.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,642 shares of the company’s stock worth $165,000 after acquiring an additional 593 shares during the last quarter. 16.64% of the stock is owned by institutional investors.

Pilgrim’s Pride Trading Down 3.7%

Shares of NASDAQ PPC opened at $44.91 on Thursday. Pilgrim’s Pride Corporation has a fifty-two week low of $36.52 and a fifty-two week high of $57.16. The firm has a market capitalization of $10.65 billion, a P/E ratio of 8.86 and a beta of 0.48. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.35 and a quick ratio of 0.88. The company’s 50 day simple moving average is $48.65 and its 200 day simple moving average is $49.38.

Pilgrim’s Pride (NASDAQ:PPC) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.05. Pilgrim’s Pride had a return on equity of 36.95% and a net margin of 6.72%. The company had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.53 billion. During the same quarter in the prior year, the business posted $0.77 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. On average, analysts predict that Pilgrim’s Pride Corporation will post 5.13 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 21st. BMO Capital Markets upped their price objective on Pilgrim’s Pride from $47.00 to $48.00 and gave the stock a “market perform” rating in a report on Monday, March 17th. The Goldman Sachs Group initiated coverage on Pilgrim’s Pride in a research note on Monday. They issued a “neutral” rating and a $50.00 target price for the company. Finally, Santander assumed coverage on Pilgrim’s Pride in a research note on Wednesday, March 5th. They set a “neutral” rating on the stock. Six equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $48.67.

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.