Bank of New York Mellon Corp Has $18.82 Million Holdings in Pilgrim’s Pride Corporation $PPC

Bank of New York Mellon Corp grew its position in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 418,369 shares of the company’s stock after acquiring an additional 3,032 shares during the quarter. Bank of New York Mellon Corp owned about 0.18% of Pilgrim’s Pride worth $18,818,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Envestnet Asset Management Inc. grew its position in Pilgrim’s Pride by 117.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 90,303 shares of the company’s stock valued at $4,922,000 after purchasing an additional 48,751 shares during the period. CWM LLC lifted its stake in shares of Pilgrim’s Pride by 64.4% in the first quarter. CWM LLC now owns 3,667 shares of the company’s stock valued at $200,000 after buying an additional 1,436 shares in the last quarter. Forum Financial Management LP acquired a new position in shares of Pilgrim’s Pride during the first quarter valued at about $206,000. Denali Advisors LLC bought a new stake in shares of Pilgrim’s Pride during the first quarter worth about $500,000. Finally, Impact Partnership Wealth LLC raised its holdings in shares of Pilgrim’s Pride by 37.1% in the 1st quarter. Impact Partnership Wealth LLC now owns 6,516 shares of the company’s stock worth $355,000 after acquiring an additional 1,763 shares during the last quarter. 16.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wall Street Zen downgraded Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Zacks Research raised Pilgrim’s Pride from a “strong sell” rating to a “hold” rating in a research report on Friday, November 7th. The Goldman Sachs Group lowered their price target on Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating for the company in a research report on Monday, October 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Pilgrim’s Pride in a research note on Thursday. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $47.00.

Pilgrim’s Pride Stock Down 0.3%

PPC stock opened at $37.52 on Monday. The stock has a market cap of $8.91 billion, a P/E ratio of 7.27 and a beta of 0.48. The company has a current ratio of 1.63, a quick ratio of 0.88 and a debt-to-equity ratio of 0.83. The stock’s fifty day simple moving average is $39.41 and its two-hundred day simple moving average is $44.19. Pilgrim’s Pride Corporation has a 1-year low of $35.73 and a 1-year high of $57.16.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $1.52 EPS for the quarter, topping the consensus estimate of $1.41 by $0.11. Pilgrim’s Pride had a net margin of 6.70% and a return on equity of 37.75%. The business had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the previous year, the firm posted $1.63 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts expect that Pilgrim’s Pride Corporation will post 5.13 EPS for the current year.

About Pilgrim’s Pride

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.