Pilgrim’s Pride Corporation $PPC Shares Acquired by Accredited Wealth Management LLC

Accredited Wealth Management LLC boosted its position in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 3,257.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,213 shares of the company’s stock after buying an additional 29,313 shares during the quarter. Pilgrim’s Pride accounts for approximately 1.0% of Accredited Wealth Management LLC’s holdings, making the stock its 23rd biggest holding. Accredited Wealth Management LLC’s holdings in Pilgrim’s Pride were worth $1,230,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PPC. True Wealth Design LLC lifted its stake in shares of Pilgrim’s Pride by 1,248.5% in the third quarter. True Wealth Design LLC now owns 917 shares of the company’s stock worth $37,000 after acquiring an additional 849 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new position in shares of Pilgrim’s Pride in the 3rd quarter valued at approximately $41,000. Clearstead Advisors LLC boosted its stake in shares of Pilgrim’s Pride by 1,522.6% during the 3rd quarter. Clearstead Advisors LLC now owns 1,006 shares of the company’s stock valued at $41,000 after buying an additional 944 shares during the last quarter. Quent Capital LLC purchased a new position in shares of Pilgrim’s Pride during the 3rd quarter valued at approximately $55,000. Finally, Rothschild Investment LLC grew its position in shares of Pilgrim’s Pride by 186,700.0% during the third quarter. Rothschild Investment LLC now owns 1,868 shares of the company’s stock worth $76,000 after buying an additional 1,867 shares in the last quarter. 16.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Zacks Research cut shares of Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 11th. Santander raised shares of Pilgrim’s Pride from a “neutral” rating to an “outperform” rating in a research report on Thursday, December 11th. BMO Capital Markets upped their target price on shares of Pilgrim’s Pride from $40.00 to $42.00 and gave the company a “market perform” rating in a research note on Friday, February 13th. Wall Street Zen cut shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research report on Sunday, February 15th. Finally, Barclays decreased their price target on Pilgrim’s Pride from $49.00 to $45.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 9th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Pilgrim’s Pride currently has a consensus rating of “Hold” and an average target price of $44.33.

Pilgrim’s Pride Stock Up 4.1%

PPC opened at $43.16 on Friday. The stock’s 50 day moving average price is $41.44 and its 200 day moving average price is $40.85. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.47 and a quick ratio of 0.76. The stock has a market cap of $10.25 billion, a P/E ratio of 9.51 and a beta of 0.43. Pilgrim’s Pride Corporation has a 12 month low of $35.73 and a 12 month high of $56.88.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.14). Pilgrim’s Pride had a return on equity of 35.15% and a net margin of 5.85%.The business had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same period in the previous year, the company posted $1.35 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, research analysts predict that Pilgrim’s Pride Corporation will post 5.13 earnings per share for the current year.

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.