Inspire Advisors LLC Cuts Stock Position in Pilgrim’s Pride Corporation $PPC

Inspire Advisors LLC cut its stake in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 58.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,692 shares of the company’s stock after selling 16,312 shares during the quarter. Inspire Advisors LLC’s holdings in Pilgrim’s Pride were worth $476,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Amalgamated Bank raised its position in Pilgrim’s Pride by 5.6% during the 3rd quarter. Amalgamated Bank now owns 20,087 shares of the company’s stock worth $818,000 after buying an additional 1,072 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Pilgrim’s Pride by 9.1% during the third quarter. Sequoia Financial Advisors LLC now owns 37,997 shares of the company’s stock worth $1,547,000 after acquiring an additional 3,169 shares during the period. Bfsg LLC raised its holdings in Pilgrim’s Pride by 20.5% during the third quarter. Bfsg LLC now owns 26,029 shares of the company’s stock worth $1,060,000 after purchasing an additional 4,427 shares in the last quarter. Campbell & CO Investment Adviser LLC lifted its position in Pilgrim’s Pride by 117.1% in the third quarter. Campbell & CO Investment Adviser LLC now owns 44,672 shares of the company’s stock valued at $1,819,000 after purchasing an additional 24,093 shares during the period. Finally, Wright Investors Service Inc. acquired a new stake in Pilgrim’s Pride in the third quarter valued at about $416,000. 16.64% of the stock is owned by institutional investors and hedge funds.

Pilgrim’s Pride Stock Up 1.1%

PPC opened at $41.83 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.78 and a current ratio of 1.51. The company has a market cap of $9.94 billion, a price-to-earnings ratio of 8.11 and a beta of 0.43. Pilgrim’s Pride Corporation has a one year low of $35.73 and a one year high of $57.16. The business’s fifty day moving average is $39.08 and its two-hundred day moving average is $41.60.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. Pilgrim’s Pride had a return on equity of 38.17% and a net margin of 6.70%.The business had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter last year, the business posted $1.63 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. Analysts anticipate that Pilgrim’s Pride Corporation will post 5.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PPC. Santander upgraded Pilgrim’s Pride from a “neutral” rating to an “outperform” rating in a research report on Thursday, December 11th. The Goldman Sachs Group dropped their price objective on Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. Barclays reduced their target price on Pilgrim’s Pride from $49.00 to $45.00 and set an “equal weight” rating for the company in a report on Tuesday, December 9th. Wall Street Zen downgraded shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Pilgrim’s Pride in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $46.33.

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.