Advisors Preferred LLC Purchases Shares of 45,054 Pilgrim’s Pride Corporation $PPC

Advisors Preferred LLC purchased a new position in Pilgrim’s Pride Corporation (NASDAQ:PPC) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 45,054 shares of the company’s stock, valued at approximately $1,858,000.

Other large investors also recently modified their holdings of the company. True Wealth Design LLC grew its stake in shares of Pilgrim’s Pride by 1,248.5% during the third quarter. True Wealth Design LLC now owns 917 shares of the company’s stock worth $37,000 after purchasing an additional 849 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new stake in Pilgrim’s Pride in the third quarter valued at $41,000. Caitong International Asset Management Co. Ltd raised its stake in Pilgrim’s Pride by 117.5% in the second quarter. Caitong International Asset Management Co. Ltd now owns 1,231 shares of the company’s stock valued at $55,000 after buying an additional 665 shares in the last quarter. Quent Capital LLC purchased a new stake in Pilgrim’s Pride during the 3rd quarter worth about $55,000. Finally, Cullen Frost Bankers Inc. boosted its position in shares of Pilgrim’s Pride by 18.2% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,566 shares of the company’s stock worth $70,000 after acquiring an additional 241 shares in the last quarter. 16.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on PPC. Weiss Ratings reiterated a “hold (c)” rating on shares of Pilgrim’s Pride in a research note on Monday, December 29th. Zacks Research downgraded shares of Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 11th. BMO Capital Markets lifted their price target on shares of Pilgrim’s Pride from $40.00 to $42.00 and gave the stock a “market perform” rating in a research note on Friday, February 13th. Barclays reduced their price target on shares of Pilgrim’s Pride from $49.00 to $45.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 9th. Finally, Wall Street Zen lowered Pilgrim’s Pride from a “buy” rating to a “hold” rating in a report on Sunday, February 15th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Pilgrim’s Pride has a consensus rating of “Hold” and an average price target of $44.33.

Pilgrim’s Pride Stock Down 1.7%

PPC stock opened at $41.74 on Friday. The stock has a market capitalization of $9.92 billion, a PE ratio of 9.19 and a beta of 0.43. The company has a fifty day moving average of $41.21 and a 200-day moving average of $41.08. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.76 and a current ratio of 1.47. Pilgrim’s Pride Corporation has a one year low of $35.73 and a one year high of $56.88.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.14). Pilgrim’s Pride had a net margin of 5.85% and a return on equity of 35.15%. The firm had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same quarter in the previous year, the business earned $1.35 EPS. Pilgrim’s Pride’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, analysts expect that Pilgrim’s Pride Corporation will post 5.13 EPS for the current 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.