Schroder Investment Management Group lifted its position in Pilgrim's Pride Co. (NASDAQ:PPC) by 2,806.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 531,800 shares of the company’s stock after purchasing an additional 513,500 shares during the quarter. Schroder Investment Management Group owned about 0.21% of Pilgrim's Pride worth $15,109,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Seven Eight Capital LP bought a new stake in shares of Pilgrim's Pride in the second quarter worth about $134,000. New York State Teachers Retirement System bought a new stake in shares of Pilgrim's Pride in the third quarter worth about $134,000. The Manufacturers Life Insurance Company grew its position in Pilgrim's Pride by 9.5% in the second quarter. The Manufacturers Life Insurance Company now owns 9,203 shares of the company’s stock worth $201,000 after acquiring an additional 798 shares in the last quarter. Amalgamated Bank purchased a new position in Pilgrim's Pride in the second quarter worth about $219,000. Finally, TrimTabs Asset Management LLC grew its position in Pilgrim's Pride by 105.0% in the second quarter. TrimTabs Asset Management LLC now owns 10,281 shares of the company’s stock worth $225,000 after acquiring an additional 5,265 shares in the last quarter. 24.62% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts recently commented on the company. Vertical Research lowered Pilgrim's Pride from a “buy” rating to a “hold” rating in a research report on Tuesday, September 5th. BMO Capital Markets reiterated a “hold” rating and issued a $24.00 price target on shares of Pilgrim's Pride in a research report on Friday, August 25th. BidaskClub upgraded Pilgrim's Pride from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 12th. KeyCorp assumed coverage on Pilgrim's Pride in a research report on Tuesday, October 31st. They issued a “hold” rating for the company. Finally, Morgan Stanley lifted their price target on Pilgrim's Pride from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, November 10th. Six analysts have rated the stock with a hold rating and three have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $32.50.
Pilgrim's Pride Co. (NASDAQ:PPC) opened at $37.75 on Thursday. The company has a market capitalization of $9,340.66, a PE ratio of 14.55 and a beta of 0.29. Pilgrim's Pride Co. has a 12-month low of $17.78 and a 12-month 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 released its quarterly 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 company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter last year, the business posted $0.40 earnings per share. The firm’s revenue was up 12.0% on a year-over-year basis. analysts expect that Pilgrim's Pride Co. will post 2.85 EPS for the current 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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