Pilgrim’s Pride Co. (NASDAQ:PPC) Shares Sold by UMB Bank n.a.

UMB Bank n.a. cut its holdings in Pilgrim’s Pride Co. (NASDAQ:PPC) by 1.9% during the 4th quarter, Holdings Channel reports. The firm owned 15,011 shares of the company’s stock after selling 288 shares during the period. UMB Bank n.a.’s holdings in Pilgrim’s Pride were worth $681,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PPC. Harbor Capital Advisors Inc. acquired a new position in Pilgrim’s Pride in the 3rd quarter valued at about $27,000. ORG Wealth Partners LLC purchased a new stake in shares of Pilgrim’s Pride during the third quarter worth about $29,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Pilgrim’s Pride in the second quarter valued at approximately $32,000. Raleigh Capital Management Inc. purchased a new position in shares of Pilgrim’s Pride during the third quarter valued at approximately $34,000. Finally, Quarry LP boosted its position in Pilgrim’s Pride by 295.8% during the third quarter. Quarry LP now owns 946 shares of the company’s stock worth $44,000 after acquiring an additional 707 shares during the last quarter. 16.64% of the stock is owned by hedge funds and other institutional investors.

Pilgrim’s Pride Price Performance

PPC stock opened at $44.52 on Wednesday. The company has a market cap of $10.56 billion, a PE ratio of 10.75, a price-to-earnings-growth ratio of 0.20 and a beta of 0.84. The company has a current ratio of 1.95, a quick ratio of 1.27 and a debt-to-equity ratio of 0.75. The stock has a 50-day moving average price of $48.46 and a two-hundred day moving average price of $45.77. Pilgrim’s Pride Co. has a 12-month low of $26.52 and a 12-month high of $55.50.

Pilgrim’s Pride (NASDAQ:PPC) last issued its earnings results 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. Pilgrim’s Pride had a return on equity of 29.92% and a net margin of 5.46%. The business had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.69 billion. During the same quarter in the previous year, the business earned $0.58 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, research analysts predict that Pilgrim’s Pride Co. will post 5.12 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Barclays boosted their price target on Pilgrim’s Pride from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. BMO Capital Markets upped their target price on Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Finally, Stephens began coverage on Pilgrim’s Pride in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price target on the stock. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $45.50.

About Pilgrim’s Pride

Pilgrim’s Pride Corp. engages in the production, processing, marketing, and distribution of fresh, frozen and value-added chicken and pork products to retailers, distributors, and foodservice operators. It operates through the following segments: U.S., U.K. and Europe, and Mexico. The company was founded by Lonnie A.