KLP Kapitalforvaltning AS Acquires 15,400 Shares of Pilgrim’s Pride Corporation $PPC

KLP Kapitalforvaltning AS lifted its holdings in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 148.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,800 shares of the company’s stock after buying an additional 15,400 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Pilgrim’s Pride were worth $1,051,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Louisiana State Employees Retirement System grew its position in Pilgrim’s Pride by 5.3% in the 3rd quarter. Louisiana State Employees Retirement System now owns 11,900 shares of the company’s stock valued at $485,000 after acquiring an additional 600 shares during the last quarter. CWA Asset Management Group LLC grew its holdings in shares of Pilgrim’s Pride by 363.2% in the third quarter. CWA Asset Management Group LLC now owns 101,158 shares of the company’s stock worth $4,119,000 after purchasing an additional 79,319 shares during the last quarter. True Wealth Design LLC increased its stake in Pilgrim’s Pride by 1,248.5% in the 3rd quarter. True Wealth Design LLC now owns 917 shares of the company’s stock worth $37,000 after buying an additional 849 shares during the period. Merit Financial Group LLC lifted its holdings in Pilgrim’s Pride by 41.6% during the 3rd quarter. Merit Financial Group LLC now owns 18,772 shares of the company’s stock valued at $764,000 after buying an additional 5,514 shares in the last quarter. Finally, Range Financial Group LLC lifted its holdings in Pilgrim’s Pride by 2.3% during the 3rd quarter. Range Financial Group LLC now owns 29,705 shares of the company’s stock valued at $1,210,000 after buying an additional 678 shares in the last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on PPC. The Goldman Sachs Group dropped their target price on shares of Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Pilgrim’s Pride in a research note on Monday, December 29th. Zacks Research raised Pilgrim’s Pride from a “strong sell” rating to a “hold” rating in a research report on Friday, November 7th. Santander upgraded Pilgrim’s Pride from a “neutral” rating to an “outperform” rating in a report on Thursday, December 11th. Finally, Wall Street Zen lowered Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Pilgrim’s Pride currently has a consensus rating of “Hold” and a consensus price target of $46.33.

Pilgrim’s Pride Stock Up 3.3%

Pilgrim’s Pride stock opened at $40.05 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.87. The firm has a market cap of $9.51 billion, a P/E ratio of 7.76 and a beta of 0.43. The business has a fifty day moving average of $38.58 and a two-hundred day moving average of $41.77. Pilgrim’s Pride Corporation has a twelve month low of $35.73 and a twelve month high of $57.16.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.41 by $0.11. The firm had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.65 billion. Pilgrim’s Pride had a return on equity of 38.17% and a net margin of 6.70%.The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.63 EPS. On average, analysts forecast that Pilgrim’s Pride Corporation will post 5.13 earnings per share for the current fiscal year.

About Pilgrim’s Pride

Pilgrim’s Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim’s Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.

The company’s vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.