Pilgrim’s Pride Corporation $PPC Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC increased its position in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 32.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 147,091 shares of the company’s stock after buying an additional 36,099 shares during the quarter. Hsbc Holdings PLC’s holdings in Pilgrim’s Pride were worth $5,777,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. New York State Common Retirement Fund raised its holdings in shares of Pilgrim’s Pride by 1.3% in the 2nd quarter. New York State Common Retirement Fund now owns 17,817 shares of the company’s stock worth $801,000 after purchasing an additional 230 shares during the period. Commerce Bank lifted its stake in shares of Pilgrim’s Pride by 4.4% in the 4th quarter. Commerce Bank now owns 5,792 shares of the company’s stock valued at $226,000 after purchasing an additional 246 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Pilgrim’s Pride by 23.5% during the 4th quarter. Signaturefd LLC now owns 1,350 shares of the company’s stock worth $53,000 after purchasing an additional 257 shares during the period. Kendall Capital Management grew its holdings in shares of Pilgrim’s Pride by 4.3% during the 3rd quarter. Kendall Capital Management now owns 6,385 shares of the company’s stock worth $260,000 after purchasing an additional 265 shares during the period. Finally, HB Wealth Management LLC increased its position in Pilgrim’s Pride by 5.1% during the 4th quarter. HB Wealth Management LLC now owns 5,939 shares of the company’s stock worth $232,000 after purchasing an additional 290 shares in the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Up 0.0%

Shares of NASDAQ:PPC opened at $27.41 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.48 and a debt-to-equity ratio of 0.83. Pilgrim’s Pride Corporation has a 52-week low of $26.50 and a 52-week high of $50.56. The company has a 50 day moving average of $28.75 and a two-hundred day moving average of $35.47. The company has a market capitalization of $6.52 billion, a price-to-earnings ratio of 7.35 and a beta of 0.29.

Pilgrim’s Pride (NASDAQ:PPC) last posted 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 net margin of 4.78% and a return on equity of 28.57%. The firm had revenue of $4.53 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter in the prior year, the business earned $1.31 EPS. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, analysts forecast that Pilgrim’s Pride Corporation will post 3.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PPC has been the topic of several research reports. Barclays upgraded shares of Pilgrim’s Pride from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $45.00 to $42.00 in a report on Friday, May 1st. UBS Group initiated coverage on shares of Pilgrim’s Pride in a research note on Tuesday, May 19th. They set a “neutral” rating and a $30.00 price objective for the company. Stephens set a $40.00 price objective on shares of Pilgrim’s Pride in a research report on Wednesday, April 15th. BMO Capital Markets dropped their price objective on shares of Pilgrim’s Pride from $42.00 to $40.00 and set a “market perform” rating for the company in a research report on Wednesday, March 25th. Finally, Weiss Ratings downgraded shares of Pilgrim’s Pride from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, June 26th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $36.83.

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.