PEAK6 Investments LLC Purchases Shares of 15,612 Pilgrim's Pride Co. (NASDAQ:PPC)

PEAK6 Investments LLC bought a new position in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,612 shares of the company's stock, valued at approximately $719,000.

A number of other hedge funds also recently made changes to their positions in PPC. Harbor Capital Advisors Inc. bought a new position in Pilgrim's Pride in the 3rd quarter valued at approximately $27,000. ORG Wealth Partners LLC acquired a new position in Pilgrim's Pride in the 3rd quarter valued at approximately $29,000. ORG Partners LLC bought a new position in shares of Pilgrim's Pride during the second quarter valued at $32,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Pilgrim's Pride during the second quarter worth $32,000. Finally, Raleigh Capital Management Inc. bought a new stake in shares of Pilgrim's Pride in the third quarter worth $34,000. 16.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PPC. Stephens assumed coverage on Pilgrim's Pride in a research report on Thursday, October 3rd. They set an "equal weight" rating and a $43.00 target price for the company. BMO Capital Markets lifted their price objective on Pilgrim's Pride from $42.00 to $43.00 and gave the stock a "market perform" rating in a research note on Friday, November 1st. Bank of America cut Pilgrim's Pride from a "buy" rating to a "neutral" rating and set a $47.00 target price on the stock. in a report on Thursday, August 15th. Argus raised their price target 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. Finally, Barclays upped their price objective on shares of 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 analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $45.50.

Pilgrim's Pride Trading Up 0.2 %

Shares of Pilgrim's Pride stock traded up $0.10 on Wednesday, reaching $51.37. 479,796 shares of the company's stock were exchanged, compared to its average volume of 898,818. The firm's 50-day moving average is $48.49 and its two-hundred day moving average is $43.10. The company has a market capitalization of $12.18 billion, a P/E ratio of 12.38, a price-to-earnings-growth ratio of 0.22 and a beta of 0.82. 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 Co. has a 52 week low of $25.60 and a 52 week high of $55.50.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.69 billion. Pilgrim's Pride had a net margin of 5.46% and a return on equity of 29.92%. The business's revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 earnings per share. Sell-side analysts predict that Pilgrim's Pride Co. will post 4.91 EPS for the current fiscal year.

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.