World Investment Advisors LLC Invests $808,000 in Pilgrim’s Pride Co. (NASDAQ:PPC)

World Investment Advisors LLC bought a new stake in Pilgrim’s Pride Co. (NASDAQ:PPC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,545 shares of the company’s stock, valued at approximately $808,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new stake in shares of Pilgrim’s Pride during the 3rd quarter worth approximately $27,000. ORG Wealth Partners LLC bought a new position in Pilgrim’s Pride during the third quarter worth $29,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Pilgrim’s Pride during the second quarter worth $32,000. Raleigh Capital Management Inc. acquired a new stake in Pilgrim’s Pride in the third quarter worth $34,000. Finally, Quarry LP increased its stake in Pilgrim’s Pride by 295.8% in the third quarter. Quarry LP now owns 946 shares of the company’s stock valued at $44,000 after purchasing an additional 707 shares in the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Up 2.5 %

PPC stock opened at $51.19 on Tuesday. The stock’s 50 day moving average is $49.40 and its 200-day moving average is $43.96. Pilgrim’s Pride Co. has a twelve month low of $25.87 and a twelve month high of $55.50. The firm has a market capitalization of $12.14 billion, a PE ratio of 12.36, a P/E/G ratio of 0.20 and a beta of 0.82. The company has a quick ratio of 1.27, a current ratio of 1.95 and a debt-to-equity ratio of 0.75.

Pilgrim’s Pride (NASDAQ:PPC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.36. The firm had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.69 billion. Pilgrim’s Pride had a net margin of 5.46% and a return on equity of 29.92%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.58 EPS. Sell-side analysts expect that Pilgrim’s Pride Co. will post 5.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PPC shares. Stephens initiated coverage on Pilgrim’s Pride in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 target price for the company. Barclays raised their price objective on Pilgrim’s Pride from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Argus upped their target price on Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, BMO Capital Markets increased their target price on Pilgrim’s Pride from $42.00 to $43.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Pilgrim’s Pride presently has a consensus rating of “Hold” and an average price target of $45.50.

About Pilgrim’s Pride

Pilgrim's Pride Corporation produces, processes, markets, and distributes fresh, frozen, and value-added chicken and pork products to retailers, distributors, and foodservice operators. The company offers fresh products, including refrigerated whole or cut-up chicken, selected chicken parts that are either marinated or non-marinated, primary pork cuts, added value pork, and pork ribs; and prepared products, which include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, processed sausages, bacon, smoked meat, gammon joints, pre-packed meats, sandwich and deli counter meats and meat balls.