Quantbot Technologies LP Has $4.45 Million Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

Quantbot Technologies LP grew its holdings in Pilgrim’s Pride Co. (NASDAQ:PPC) by 165.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,691 shares of the company’s stock after acquiring an additional 60,201 shares during the quarter. Quantbot Technologies LP’s holdings in Pilgrim’s Pride were worth $4,453,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PPC. Vanguard Group Inc. raised its holdings in shares of Pilgrim’s Pride by 3.3% during the first quarter. Vanguard Group Inc. now owns 4,233,961 shares of the company’s stock worth $145,310,000 after acquiring an additional 136,970 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Pilgrim’s Pride by 16.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,225 shares of the company’s stock valued at $317,000 after purchasing an additional 1,270 shares in the last quarter. Bayesian Capital Management LP boosted its position in shares of Pilgrim’s Pride by 2.6% during the first quarter. Bayesian Capital Management LP now owns 11,382 shares of the company’s stock worth $391,000 after buying an additional 290 shares during the period. GAMMA Investing LLC grew its holdings in shares of Pilgrim’s Pride by 102.9% during the second quarter. GAMMA Investing LLC now owns 1,410 shares of the company’s stock worth $54,000 after buying an additional 715 shares in the last quarter. Finally, CWM LLC raised its position in Pilgrim’s Pride by 746.4% in the 2nd quarter. CWM LLC now owns 1,752 shares of the company’s stock valued at $67,000 after buying an additional 1,545 shares during the last quarter. 16.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. BMO Capital Markets upped their price target on Pilgrim’s Pride from $42.00 to $43.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Argus increased their target price on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Bank of America downgraded shares of Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price objective for the company. in a research note on Thursday, August 15th. Stephens started coverage on Pilgrim’s Pride in a report on Thursday, October 3rd. They set an “equal weight” rating and a $43.00 target price on the stock. Finally, Barclays raised their price target 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. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $45.50.

Pilgrim’s Pride Stock Up 0.8 %

PPC opened at $50.73 on Wednesday. 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’s fifty day simple moving average is $47.47 and its 200 day simple moving average is $42.54. Pilgrim’s Pride Co. has a 1-year low of $25.23 and a 1-year high of $55.50. The stock has a market cap of $12.03 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 0.22 and a beta of 0.81.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.36. Pilgrim’s Pride had a net margin of 5.46% and a return on equity of 29.92%. The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.69 billion. During the same period in the prior year, the firm earned $0.58 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. As a group, research analysts expect that Pilgrim’s Pride Co. will post 4.91 earnings per share for the current year.

Pilgrim’s Pride Profile

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.