Pilgrim’s Pride Corporation $PPC Holdings Raised by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its position in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 29.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 191,108 shares of the company’s stock after acquiring an additional 44,017 shares during the quarter. Hsbc Holdings PLC’s holdings in Pilgrim’s Pride were worth $7,129,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in Pilgrim’s Pride by 59.3% during the second quarter. AQR Capital Management LLC now owns 3,776,178 shares of the company’s stock valued at $169,852,000 after purchasing an additional 1,405,251 shares during the last quarter. Balyasny Asset Management L.P. lifted its position in shares of Pilgrim’s Pride by 1,196.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 813,815 shares of the company’s stock worth $31,731,000 after buying an additional 751,042 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Pilgrim’s Pride by 27.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,418,398 shares of the company’s stock worth $133,296,000 after buying an additional 742,204 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in shares of Pilgrim’s Pride in the 3rd quarter valued at about $26,501,000. Finally, Qube Research & Technologies Ltd grew its position in shares of Pilgrim’s Pride by 138.7% during the 3rd quarter. Qube Research & Technologies Ltd now owns 958,312 shares of the company’s stock valued at $39,022,000 after buying an additional 556,766 shares during the last quarter. 16.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Bank of America dropped their price objective on shares of Pilgrim’s Pride from $37.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, July 2nd. Barclays upgraded Pilgrim’s Pride from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $45.00 to $42.00 in a research note on Friday, May 1st. The Goldman Sachs Group dropped their price target on Pilgrim’s Pride from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Weiss Ratings downgraded Pilgrim’s Pride from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, June 26th. Finally, Stephens set a $40.00 price objective on Pilgrim’s Pride in a research report on Wednesday, April 15th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $36.83.

Pilgrim’s Pride Stock Performance

PPC opened at $27.92 on Friday. 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 business’s 50 day moving average is $28.47 and its 200-day moving average is $34.69. The stock has a market cap of $6.64 billion, a PE ratio of 7.49 and a beta of 0.29. Pilgrim’s Pride Corporation has a twelve month low of $26.50 and a twelve month high of $50.56.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.18). Pilgrim’s Pride had a return on equity of 28.57% and a net margin of 4.78%.The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same period last year, the company earned $1.31 earnings per share. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, analysts predict that Pilgrim’s Pride Corporation will post 3.01 earnings per share for the current year.

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.