Harbor Capital Advisors Inc. Decreases Stock Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

Harbor Capital Advisors Inc. cut its stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 18.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,093 shares of the company’s stock after selling 251 shares during the period. Harbor Capital Advisors Inc.’s holdings in Pilgrim’s Pride were worth $60,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Accredited Wealth Management LLC bought a new position in Pilgrim’s Pride in the 4th quarter worth $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Pilgrim’s Pride in the 4th quarter worth $55,000. Central Pacific Bank Trust Division bought a new position in Pilgrim’s Pride in the 1st quarter worth $133,000. Viking Fund Management LLC bought a new position in Pilgrim’s Pride in the 1st quarter worth $185,000. Finally, US Bancorp DE boosted its holdings in Pilgrim’s Pride by 23.3% in the 4th quarter. US Bancorp DE now owns 3,445 shares of the company’s stock worth $156,000 after buying an additional 650 shares during the period. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

Pilgrim’s Pride Stock Up 0.9%

Shares of NASDAQ PPC opened at $46.14 on Monday. The firm’s 50-day moving average price is $49.58 and its 200-day moving average price is $49.65. The company has a current ratio of 2.01, a quick ratio of 1.31 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $10.94 billion, a price-to-earnings ratio of 10.12 and a beta of 0.48. Pilgrim’s Pride Co. has a 12-month low of $34.47 and a 12-month high of $57.16.

Pilgrim’s Pride (NASDAQ:PPC) last announced its earnings results on Wednesday, April 30th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.05. The firm had revenue of $4.46 billion for the quarter, compared to analysts’ expectations of $4.53 billion. Pilgrim’s Pride had a net margin of 6.08% and a return on equity of 32.83%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.77 EPS. On average, equities research analysts anticipate that Pilgrim’s Pride Co. will post 5.13 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the stock. BMO Capital Markets boosted their price target on shares of Pilgrim’s Pride from $47.00 to $48.00 and gave the stock a “market perform” rating in a research note on Monday, March 17th. Wall Street Zen cut shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 29th. Finally, Santander assumed coverage on shares of Pilgrim’s Pride in a research note on Wednesday, March 5th. They issued a “neutral” rating on the stock. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Pilgrim’s Pride has an average rating of “Hold” and a consensus price target of $48.40.

Pilgrim’s Pride Company Profile

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.