Hsbc Holdings PLC Increases Stake in Pilgrim’s Pride Corporation $PPC

Hsbc Holdings PLC raised its position in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 32.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 147,091 shares of the company’s stock after acquiring an additional 36,099 shares during the period. Hsbc Holdings PLC owned approximately 0.06% of Pilgrim’s Pride worth $5,777,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. New York State Common Retirement Fund raised its stake in Pilgrim’s Pride by 1.3% in the 2nd quarter. New York State Common Retirement Fund now owns 17,817 shares of the company’s stock valued at $801,000 after purchasing an additional 230 shares during the last quarter. Commerce Bank lifted its holdings in Pilgrim’s Pride by 4.4% in the 4th quarter. Commerce Bank now owns 5,792 shares of the company’s stock valued at $226,000 after purchasing an additional 246 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Pilgrim’s Pride by 23.5% during the 4th quarter. Signaturefd LLC now owns 1,350 shares of the company’s stock worth $53,000 after purchasing an additional 257 shares during the last quarter. Kendall Capital Management boosted its stake in shares of Pilgrim’s Pride by 4.3% during the 3rd quarter. Kendall Capital Management now owns 6,385 shares of the company’s stock worth $260,000 after purchasing an additional 265 shares during the last quarter. Finally, HB Wealth Management LLC boosted its stake in shares of Pilgrim’s Pride by 5.1% during the 4th quarter. HB Wealth Management LLC now owns 5,939 shares of the company’s stock worth $232,000 after purchasing an additional 290 shares during the last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Up 0.0%

PPC opened at $27.41 on Friday. Pilgrim’s Pride Corporation has a 12 month low of $26.50 and a 12 month high of $50.56. The business has a 50-day moving average of $28.75 and a two-hundred day moving average of $35.47. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.48 and a quick ratio of 0.73. The stock has a market capitalization of $6.52 billion, a price-to-earnings ratio of 7.35 and a beta of 0.29.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.18). Pilgrim’s Pride had a return on equity of 28.57% and a net margin of 4.78%.The company had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter in the previous year, the company earned $1.31 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. On average, research analysts expect that Pilgrim’s Pride Corporation will post 3.01 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PPC. Stephens set a $40.00 price objective on shares of Pilgrim’s Pride in a research report on Wednesday, April 15th. Weiss Ratings cut shares of Pilgrim’s Pride from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, June 26th. The Goldman Sachs Group lowered their target price on shares of Pilgrim’s Pride from $44.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. UBS Group started coverage on Pilgrim’s Pride in a research note on Tuesday, May 19th. They set a “neutral” rating and a $30.00 price target on the stock. Finally, BMO Capital Markets reduced their price target on Pilgrim’s Pride from $42.00 to $40.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 25th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $36.83.

Pilgrim’s Pride Profile

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.