Algert Global LLC Has $5.62 Million Stock Position in Pilgrim's Pride Co. (NASDAQ:PPC)

Algert Global LLC raised its stake in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 63.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 121,936 shares of the company's stock after buying an additional 47,264 shares during the period. Algert Global LLC owned approximately 0.05% of Pilgrim's Pride worth $5,615,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Pilgrim's Pride by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 4,233,961 shares of the company's stock worth $145,310,000 after purchasing an additional 136,970 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Pilgrim's Pride in the 1st quarter worth approximately $323,000. Quadrature Capital Ltd acquired a new position in shares of Pilgrim's Pride in the 1st quarter worth approximately $904,000. Price T Rowe Associates Inc. MD boosted 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 worth $317,000 after buying an additional 1,270 shares during the period. Finally, Bayesian Capital Management LP boosted its holdings in shares of Pilgrim's Pride by 2.6% in 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. Institutional investors and hedge funds own 16.64% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on PPC shares. BMO Capital Markets raised their price target on shares of Pilgrim's Pride from $42.00 to $43.00 and gave the stock a "market perform" rating in a report on Friday, November 1st. Bank of America cut shares of Pilgrim's Pride from a "buy" rating to a "neutral" rating and set a $47.00 target price for the company. in a research note on Thursday, August 15th. Argus lifted 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 note on Wednesday, August 28th. Stephens started coverage on shares of Pilgrim's Pride in a research note on Thursday, October 3rd. They issued an "equal weight" rating and a $43.00 target price for the company. Finally, Barclays lifted their target price 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 given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $45.50.

Pilgrim's Pride Stock Performance

PPC stock traded down $0.54 on Friday, reaching $51.71. 620,458 shares of the company were exchanged, compared to its average volume of 1,016,391. Pilgrim's Pride Co. has a 12 month low of $25.23 and a 12 month high of $55.50. The stock's fifty day moving average price is $47.28 and its 200 day moving average price is $42.41. The firm has a market capitalization of $12.26 billion, a PE ratio of 12.49, a PEG ratio of 0.22 and a beta of 0.81. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.95 and a quick ratio of 1.27.

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, topping analysts' consensus estimates 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 firm had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.69 billion. During the same quarter in the previous year, the company earned $0.58 earnings per share. The business's revenue was up 5.2% compared to the same quarter last year. On average, research analysts anticipate that Pilgrim's Pride Co. will post 4.91 EPS for the current fiscal 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.