Alps Advisors Inc. purchased a new stake in Pilgrim's Pride Co. (NASDAQ:PPC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 16,230 shares of the company’s stock, valued at approximately $461,000.
A number of other hedge funds also recently made changes to their positions in PPC. Teachers Advisors LLC boosted its stake in Pilgrim's Pride by 5.0% in the first quarter. Teachers Advisors LLC now owns 133,211 shares of the company’s stock worth $2,998,000 after purchasing an additional 6,354 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Pilgrim's Pride by 236.2% during the first quarter. Legal & General Group Plc now owns 18,422 shares of the company’s stock valued at $415,000 after acquiring an additional 12,942 shares during the period. Vanguard Group Inc. lifted its stake in shares of Pilgrim's Pride by 4.1% during the first quarter. Vanguard Group Inc. now owns 4,926,654 shares of the company’s stock valued at $110,874,000 after acquiring an additional 195,030 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Pilgrim's Pride by 9.9% during the first quarter. Dimensional Fund Advisors LP now owns 792,740 shares of the company’s stock valued at $17,840,000 after acquiring an additional 71,211 shares during the period. Finally, BlackRock Inc. increased its holdings in Pilgrim's Pride by 662.4% in the first quarter. BlackRock Inc. now owns 4,173,974 shares of the company’s stock valued at $93,936,000 after purchasing an additional 3,626,463 shares during the last quarter. 24.62% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on PPC shares. ValuEngine upgraded Pilgrim's Pride from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Vertical Group cut Pilgrim's Pride from a “buy” rating to a “hold” rating in a research report on Tuesday, September 5th. They noted that the move was a valuation call. Morgan Stanley assumed coverage on Pilgrim's Pride in a research report on Friday, November 3rd. They issued an “equal weight” rating and a $30.00 price objective for the company. BMO Capital Markets increased their target price on Pilgrim's Pride from $24.00 to $38.00 and gave the stock a “market perform” rating in a research note on Thursday, November 9th. Finally, Vertical Research lowered Pilgrim's Pride from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th. Six equities research analysts have rated the stock with a hold rating and three have given a strong buy rating to the company’s stock. Pilgrim's Pride has a consensus rating of “Buy” and an average price target of $32.50.
Shares of Pilgrim's Pride Co. (NASDAQ PPC) traded up $0.46 on Wednesday, reaching $37.75. The company’s stock had a trading volume of 880,814 shares, compared to its average volume of 1,261,930. The firm has a market cap of $9,340.66, a P/E ratio of 14.55 and a beta of 0.29. Pilgrim's Pride Co. has a 52-week low of $17.78 and a 52-week high of $38.39. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.65 and a quick ratio of 0.81.
Pilgrim's Pride (NASDAQ:PPC) last announced its earnings results on Tuesday, November 7th. The company reported $0.98 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 64.36% and a net margin of 8.53%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the business earned $0.40 EPS. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. equities research analysts forecast that Pilgrim's Pride Co. will post 2.85 EPS for the current fiscal year.
Pilgrim's Pride Company Profile
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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