Hillsdale Investment Management Inc. Has $448,000 Stock Holdings in Pilgrim’s Pride Corporation $PPC

Hillsdale Investment Management Inc. trimmed its holdings in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 61.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 11,000 shares of the company’s stock after selling 17,300 shares during the period. Hillsdale Investment Management Inc.’s holdings in Pilgrim’s Pride were worth $448,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PPC. Royal Bank of Canada raised its position in Pilgrim’s Pride by 6.3% in the first quarter. Royal Bank of Canada now owns 100,493 shares of the company’s stock worth $5,479,000 after purchasing an additional 5,950 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Pilgrim’s Pride by 136.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,881 shares of the company’s stock valued at $157,000 after purchasing an additional 1,663 shares during the period. Millennium Management LLC raised its holdings in shares of Pilgrim’s Pride by 180.7% in the 1st quarter. Millennium Management LLC now owns 342,774 shares of the company’s stock worth $18,685,000 after buying an additional 220,673 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Pilgrim’s Pride by 15.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,243,039 shares of the company’s stock worth $67,758,000 after buying an additional 166,967 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its position in shares of Pilgrim’s Pride by 6.9% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 38,289 shares of the company’s stock worth $1,722,000 after buying an additional 2,465 shares during the period. Institutional investors own 16.64% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wall Street Zen cut Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research report on Sunday, February 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pilgrim’s Pride in a report on Monday, December 29th. BMO Capital Markets increased their target price on shares of Pilgrim’s Pride from $40.00 to $42.00 and gave the stock a “market perform” rating in a research report on Friday, February 13th. Santander raised shares of Pilgrim’s Pride from a “neutral” rating to an “outperform” rating in a report on Thursday, December 11th. Finally, Zacks Research cut shares of Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 11th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $44.33.

Pilgrim’s Pride Price Performance

Shares of PPC stock opened at $41.81 on Wednesday. The firm’s 50 day moving average price is $41.29 and its two-hundred day moving average price is $40.90. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.76 and a current ratio of 1.47. Pilgrim’s Pride Corporation has a 52-week low of $35.73 and a 52-week high of $56.88. The stock has a market cap of $9.93 billion, a PE ratio of 9.21 and a beta of 0.43.

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

Pilgrim’s Pride Company 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.