Quantbot Technologies LP Buys 60,201 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

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

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its stake in Pilgrim’s Pride by 27.7% during the third quarter. The Manufacturers Life Insurance Company now owns 151,344 shares of the company’s stock worth $6,969,000 after buying an additional 32,836 shares in the last quarter. Mirabella Financial Services LLP lifted its holdings in shares of Pilgrim’s Pride by 89.4% during the 3rd quarter. Mirabella Financial Services LLP now owns 36,559 shares of the company’s stock worth $1,684,000 after acquiring an additional 17,260 shares during the period. Loomis Sayles & Co. L P boosted its position in shares of Pilgrim’s Pride by 3.2% during the 3rd quarter. Loomis Sayles & Co. L P now owns 13,079 shares of the company’s stock worth $602,000 after acquiring an additional 401 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Pilgrim’s Pride during the third quarter valued at approximately $878,000. Finally, Daiwa Securities Group Inc. acquired a new position in Pilgrim’s Pride during the third quarter valued at approximately $198,000. 16.64% of the stock is owned by institutional investors and hedge funds.

Pilgrim’s Pride Trading Up 0.8 %

NASDAQ:PPC opened at $50.73 on Wednesday. Pilgrim’s Pride Co. has a 52 week low of $25.23 and a 52 week high of $55.50. The firm has a 50-day moving average price of $47.47 and a two-hundred day moving average price of $42.54. The firm has a market cap of $12.03 billion, a price-to-earnings ratio of 12.25, a price-to-earnings-growth ratio of 0.22 and a beta of 0.81. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.27 and a current ratio of 1.95.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.36. The business had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.69 billion. Pilgrim’s Pride had a return on equity of 29.92% and a net margin of 5.46%. Pilgrim’s Pride’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company posted $0.58 earnings per share. On average, equities analysts expect that Pilgrim’s Pride Co. will post 4.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PPC shares. Argus raised their target price on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Bank of America lowered Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a research report on Thursday, August 15th. Stephens initiated coverage on Pilgrim’s Pride in a research report on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 target price for the company. BMO Capital Markets upped their price objective 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, Barclays lifted their target price on shares of Pilgrim’s Pride from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Pilgrim’s Pride currently has a consensus rating of “Hold” and an average target price of $45.50.

About Pilgrim’s Pride

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.