Hodges Capital Management Inc. Trims Stake in Pilgrim's Pride Co. (PPC)

Hodges Capital Management Inc. reduced its position in Pilgrim's Pride Co. (NASDAQ:PPC) by 17.1% in the 4th quarter, Holdings Channel reports. The firm owned 24,300 shares of the company’s stock after selling 5,000 shares during the period. Hodges Capital Management Inc.’s holdings in Pilgrim's Pride were worth $755,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue purchased a new stake in Pilgrim's Pride during the 4th quarter valued at approximately $120,000. New York State Teachers Retirement System purchased a new stake in Pilgrim's Pride during the 3rd quarter valued at approximately $134,000. Ladenburg Thalmann Financial Services Inc. raised its stake in Pilgrim's Pride by 57.1% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,882 shares of the company’s stock valued at $167,000 after acquiring an additional 2,139 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Pilgrim's Pride by 9.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,203 shares of the company’s stock valued at $201,000 after acquiring an additional 798 shares during the last quarter. Finally, Amalgamated Bank purchased a new stake in Pilgrim's Pride during the 2nd quarter valued at approximately $219,000. 24.76% of the stock is owned by institutional investors and hedge funds.

Pilgrim's Pride Co. (NASDAQ:PPC) opened at $25.22 on Friday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.81 and a current ratio of 1.65. Pilgrim's Pride Co. has a 52-week low of $20.20 and a 52-week high of $38.39. The stock has a market capitalization of $6,253.64, a P/E ratio of 9.97 and a beta of 0.03.

Pilgrim's Pride (NASDAQ:PPC) last released its earnings results on Tuesday, November 7th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.21. Pilgrim's Pride had a return on equity of 53.62% and a net margin of 7.03%. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the previous year, the firm posted $0.40 EPS. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. sell-side analysts forecast that Pilgrim's Pride Co. will post 2.82 earnings per share for the current fiscal year.

Several analysts have commented on the company. BidaskClub downgraded Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 7th. KeyCorp assumed coverage on Pilgrim's Pride in a research note on Tuesday, October 31st. They set a “hold” rating for the company. Jefferies Group set a $32.00 price objective on Pilgrim's Pride and gave the company a “hold” rating in a research note on Thursday, November 16th. Morgan Stanley upped their price objective on Pilgrim's Pride from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, November 10th. Finally, BMO Capital Markets upped their price objective on Pilgrim's Pride from $24.00 to $38.00 and gave the company a “market perform” rating in a research note on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $32.50.

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About Pilgrim's Pride

Pilgrim’s Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.

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Institutional Ownership by Quarter for Pilgrim's Pride (NASDAQ:PPC)

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