Raymond James Financial Services Advisors Cuts Pilgrims Pride Position By 65% ​​During Fourth Quarter

Financial Advisors

Raymond James Financial Services Advisors recently cut its Pilgrims Pride stock position by a staggering 65.0% during the fourth quarter, according to an updated disclosure filed with the Securities and Exchange Commission. gone. The decline left the company with 15,861 shares of Pilgrims Pride after selling 29,410 shares during the designated period. Given Raymond James Financial Services Advisors’ brevity to wealth preservation, it was clear that there was a reason for this ghastly behavior.

Headquartered in Greeley, Colorado, Pilgrim’s Pride Co. is a leading meat production company involved in the preparation and supply of poultry products to markets throughout the United States and internationally. As noted by Tencent Market Intelligence (TMI), declining earnings in poultry companies may affect investor enthusiasm for stocks trading at lower price/earnings ratios.

Despite facing challenges such as increased competition from other food processors and volatile demand fluctuations, Pilgrims Pride remains stable at $5.38 billion market cap, 52 weeks The all-time low of $20.59 and high of $34.66 make the stock an attractive investment. option.

NASDAQ:PPC shares opened Friday at $22.72, higher than yesterday’s close, and have performed well since. While there is no clear cause responsible for this improvement in the value held by Raymond James Financial Services Advisors, the market appears to be stable enough to give potential investors an idea of ​​what happens next. can continue to guess.

Pilgrims Pride shares currently have a quick ratio of 0.72, while the current ratio is 1.53. This suggests that the pagoda’s floating population may be wealthy, following recent declines by large firms such as Raymond James Financial Services Advisors. Without available comparable data sources or knowledge bases, it is always difficult to gauge where different hedge funds invest their money.

In conclusion, anyone interested in investing in stocks should carefully consider their investment strategy plan and consider all possible market conditions before investing. But it doesn’t hurt to know what hedge funds think about stock investing. According to HoldingsChannel.com, you can track other hedge funds and insider traders in Pilgrims Pride Company (NASDAQ:PPC) to make informed decisions when choosing where to invest your money. increase.



Updated: May 6, 2023

target price

the current $22.71

consensus $36.00

low $36.00

Median $36.00

expensive $36.00

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Analyst Rating

Analyst/Corporate evaluation

Kenneth Zaslow
BMO Capital


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Institutional Investors and Hedge Funds Increase Confidence in Pilgrims Pride Corp Stock

Institutional investors and hedge funds have recently made significant changes to their positions within Pilgrims Pride Corp (NASDAQ:PPC), reflecting growing confidence among the market’s most astute financial players. . At the institutional level, Captrust Financial Advisors increased his PPC position by 114.3% and owned 1,479 shares of the company’s stock worth $46,000. Ronald Blue Trust also expressed confidence in good press coverage, boasting a 48% position improvement in the fourth quarter, and PNC Financial Services Group increased its stake in Pilgrims Pride by 30.1% in the first quarter, He held the equivalent of 2,054 shares. for $52,000. Atlas Capital Advisors LLC bought a new position for his $53,000 and Point72 Hong Kong Ltd bought about $67,000 worth of new shares during the third quarter.

BMO Capital Markets gave Pilgrims Pride stock a “market performance” rating and set a particularly promising price target of $26. Similarly, StockNews.com rated PPC a “Hold” after examining industries closely related to chicken and pork production.

The company posted strong quarterly earnings of $0.08 per share compared to analyst consensus expectations of $0.01, well above expectations, and EPS is now up from negative forecast lows. was raised to a positive value of $1.07. forecast for the year.

Pilgrim’s Pride is one of the nation’s leading manufacturers and marketers of frozen products that are widely used throughout the national foodservice value-added chain. The company prides itself on its quality products and product distribution ethics regardless of its customer reach, including retailers and large distributors like Walmart, who alike cover strategic markets spanning Mexico to Europe. I have.

The hedge fund news is good news for Pilgrims Pride and underscores growing confidence in meat product manufacturing. This highlights the changing investment habits of retail investors in companies that prove credible growth drivers that can turn businesses into full-blown behemoths. The trend is expected to continue as more numbers pour in from global institutions working on similar bullish sentiment.

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