Bleakley Financial Group LLC Purchases 32,993 Shares of Pilgrim’s Pride Corporation $PPC

Bleakley Financial Group LLC boosted its stake in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 218.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 48,124 shares of the company’s stock after buying an additional 32,993 shares during the period. Bleakley Financial Group LLC’s holdings in Pilgrim’s Pride were worth $1,876,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Kestra Investment Management LLC grew its position in shares of Pilgrim’s Pride by 37.4% during the 4th quarter. Kestra Investment Management LLC now owns 23,545 shares of the company’s stock worth $918,000 after purchasing an additional 6,404 shares in the last quarter. Coldstream Capital Management Inc. bought a new position in Pilgrim’s Pride in the 4th quarter valued at approximately $255,000. MQS Management LLC bought a new position in Pilgrim’s Pride in the 4th quarter valued at approximately $234,000. Lloyd Advisory Services LLC. bought a new position in Pilgrim’s Pride in the 4th quarter valued at approximately $65,000. Finally, Kingdom Financial Group LLC. bought a new position in shares of Pilgrim’s Pride during the fourth quarter valued at $37,000. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Performance

Pilgrim’s Pride stock opened at $28.54 on Friday. The firm’s 50 day simple moving average is $32.84 and its 200 day simple moving average is $37.58. The company has a current ratio of 1.48, a quick ratio of 0.73 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $6.79 billion, a PE ratio of 7.65 and a beta of 0.33. Pilgrim’s Pride Corporation has a 1-year low of $27.13 and a 1-year high of $50.56.

Pilgrim’s Pride (NASDAQ:PPC) last posted its earnings results on Wednesday, April 29th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.18). The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.43 billion. Pilgrim’s Pride had a return on equity of 28.57% and a net margin of 4.78%.The business’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the company posted $1.31 EPS. As a group, analysts expect that Pilgrim’s Pride Corporation will post 3.52 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PPC has been the subject of several recent analyst reports. BMO Capital Markets decreased their price objective on shares of Pilgrim’s Pride from $42.00 to $40.00 and set a “market perform” rating for the company in a research report on Wednesday, March 25th. UBS Group began coverage on shares of Pilgrim’s Pride in a report on Tuesday, May 19th. They issued a “neutral” rating and a $30.00 price target for the company. The Goldman Sachs Group reduced their price objective on shares of Pilgrim’s Pride from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Wall Street Zen cut shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a report on Sunday, February 15th. Finally, Barclays raised shares of Pilgrim’s Pride from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $45.00 to $42.00 in a research report on Friday, May 1st. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Pilgrim’s Pride has a consensus rating of “Hold” and a consensus price target of $38.20.

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.