Fox Run Management L.L.C. Purchases Shares of 18,630 Pilgrim’s Pride Corporation $PPC

Fox Run Management L.L.C. acquired a new position in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 18,630 shares of the company’s stock, valued at approximately $759,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in Pilgrim’s Pride by 59.3% in the second quarter. AQR Capital Management LLC now owns 3,776,178 shares of the company’s stock valued at $169,852,000 after acquiring an additional 1,405,251 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Pilgrim’s Pride by 10.0% in the 3rd quarter. Vanguard Group Inc. now owns 5,672,728 shares of the company’s stock worth $230,993,000 after purchasing an additional 516,598 shares during the period. Invesco Ltd. boosted its stake in shares of Pilgrim’s Pride by 48.6% in the 2nd quarter. Invesco Ltd. now owns 1,459,203 shares of the company’s stock valued at $65,635,000 after purchasing an additional 477,216 shares during the last quarter. Norges Bank acquired a new stake in shares of Pilgrim’s Pride during the second quarter worth $18,231,000. Finally, Bank of America Corp DE increased its position in shares of Pilgrim’s Pride by 22.9% during the second quarter. Bank of America Corp DE now owns 2,171,836 shares of the company’s stock worth $97,689,000 after buying an additional 404,915 shares during the period. 16.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PPC has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a report on Sunday, February 15th. Barclays lowered their price objective on Pilgrim’s Pride from $49.00 to $45.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 9th. BMO Capital Markets upped their target price on Pilgrim’s Pride from $40.00 to $42.00 and gave the company a “market perform” rating in a research report on Friday, February 13th. Zacks Research downgraded Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 11th. Finally, Santander raised Pilgrim’s Pride from a “neutral” rating to an “outperform” rating in a research note on Thursday, December 11th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Pilgrim’s Pride currently has an average rating of “Hold” and a consensus target price of $44.33.

Pilgrim’s Pride Stock Performance

Shares of Pilgrim’s Pride stock opened at $43.16 on Friday. Pilgrim’s Pride Corporation has a one year low of $35.73 and a one year high of $56.88. The firm has a market capitalization of $10.25 billion, a price-to-earnings ratio of 9.51 and a beta of 0.43. The business has a 50-day simple moving average of $41.44 and a 200 day simple moving average of $40.85. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.47 and a quick ratio of 0.76.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.14). Pilgrim’s Pride had a return on equity of 35.15% and a net margin of 5.85%.The firm had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter in the previous year, the company posted $1.35 EPS. The firm’s revenue was up 3.3% on a year-over-year basis. On average, research analysts anticipate that Pilgrim’s Pride Corporation will post 5.13 earnings per share for the current fiscal year.

About Pilgrim’s Pride

Pilgrim’s Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim’s Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.

The company’s vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.