Raymond James Financial Services Advisors Inc. recently lowered its position in shares of Pilgrim’s Pride Co. by a staggering 65.0% during the fourth quarter, according to the company’s most recent disclosure with the Securities and Exchange Commission. The decrease resulted in the firm owning 15,861 shares of Pilgrim’s Pride stock after selling 29,410 shares over the assigned period. Going by Raymond James Financial Services Advisors Inc.’s brevity to maintain assets, it was evident that there were reasons for this hair-raising move.
Pilgrim’s Pride Co., headquartered in Greeley, Colorado, is a major meat production company involved in preparing and supplying chicken products throughout the United States and international markets. As stated on Tencent Market Intelligence (TMI), poultry companies’ decreasing revenue might affect investors’ enthusiasm for stocks traded at lower price-earnings ratios.
Despite facing challenges such as rising competition from other food processing firms and unstable fluctuations in demand, Pilgrim’s Pride has remained stable with a market cap of $5.38 billion as well as a 52-week low of $20.59 and high of $34.66 making its stock an intriguing investment option.
Shares of NASDAQ:PPC opened at $22.72 on Friday – higher than the prior day’s closing price – and have been successful since then. Although there is no obvious cause responsible for this improvement in value-owned by Raymond James Financial Services Advisors-the market seems stable enough to keep potential investors guessing about what may happen next.
The quick ratio of Pilgrim’s Pride Co.’s stocks currently stands at 0.72 while having a current ratio of 1.53 signifies that Pagoda floating population might be high with their assets due to recent declines by larger firms like Raymond James Financial Services Advisors Inc? It is always challenging trying to gauge where different hedge funds are investing their money without comparable data sources or knowledge bases available.
In conclusion, those interested in investing in stocks must review their investment strategy plans carefully before investing and factor in all possible market conditions. But it cannot hurt to know what hedge funds are up to regarding stock investments. As per HoldingsChannel.com, we can keep track of other hedge funds and insider traders for Pilgrim’s Pride Co. (NASDAQ:PPC) to help ensure we make well-informed decisions when choosing where to invest our money.
Pilgrim's Pride Corporation
Updated on: 02/03/2024
Debt to equity ratio: Buy
Price to earnings ratio: Buy
Price to book ratio: Strong Buy
We did not find social sentiment data for this stock
|Analyst / firm
Loop Capital Markets
Institutional Investors and Hedge Funds Show Growing Confidence in Pilgrim’s Pride Corp Stock
Institutional investors and hedge funds have recently made significant changes to their positions within Pilgrim’s Pride Corp (NASDAQ:PPC), reflecting a surge in confidence among some of the most astute financial players on the market. At an institutional level, Captrust Financial Advisors increased its PPC position by 114.3%, owning 1,479 shares of the company’s equity valued at $46,000. Ronald Blue Trust Inc. also displayed its confidence in favorable reports, boasting a 48% boost to its position in the fourth quarter and PNC Financial Services Group Inc. grew its stake in Pilgrim’s Pride by 30.1% in the first quarter, owning 2,054 shares valued at $52,000. Atlas Capital Advisors LLC bought a new position at $53,000 and Point72 Hong Kong Ltd purchased a new stake during Q3 worth around $67,000.
BMO Capital Markets gave Pilgrim’s Pride stock with a “market perform” rating and set a particularly promising $26 price target on it. Similarly, StockNews.com rated PPC with a “hold” rating after having researched industry verticals closely related to chicken and pork production.
The company has posted robust quarterly earnings results generating $0.08 earnings per share compared with analysts’ consensus estimates of ($0.01) that exceeded expectations significantly enough such that EPS was raised from an estimated low point of negative figures to a positive number of $1.07 for current-year forecasts.
Pilgrim’s Pride is one of America’s leading producers and distributors of frozen goods widely used across value-add chains across food service businesses all over America. The company prides itself on quality products and takes pride in product distribution ethics irrespective of clients’ reach—whether to retailers or other large-scale distributors like Walmart covering strategic markets spanning Mexico to Europe alike.
Hedge fund news augurs well for Pilgrim’s Pride Corp., which is a clear indication of the growing confidence surrounding meat product manufacturing. It highlights a shift in investment habits towards retail investors’ belief in companies that prove credible growth impetus capable of transforming their operations into out-and-out business giants. The trend is expected to continue as more figures trickle in from global institutions grappling with similar bullish sentiments.