Entropy Technologies LP Makes New Investment in Pilgrim's Pride Co. (NASDAQ:PPC)

Entropy Technologies LP purchased a new stake in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 12,764 shares of the company's stock, valued at approximately $588,000.

Other large investors also recently bought and sold shares of the company. Assetmark Inc. boosted its stake in shares of Pilgrim's Pride by 145,879.0% in the third quarter. Assetmark Inc. now owns 827,701 shares of the company's stock worth $38,116,000 after acquiring an additional 827,134 shares during the last quarter. AQR Capital Management LLC boosted its stake in Pilgrim's Pride by 366.1% during the 2nd quarter. AQR Capital Management LLC now owns 638,825 shares of the company's stock worth $24,320,000 after purchasing an additional 501,776 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Pilgrim's Pride by 88.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 433,891 shares of the company's stock worth $19,981,000 after buying an additional 203,408 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Pilgrim's Pride by 3.3% in the first quarter. Vanguard Group Inc. now owns 4,233,961 shares of the company's stock valued at $145,310,000 after buying an additional 136,970 shares during the last quarter. Finally, United Capital Management of KS Inc. purchased a new position in shares of Pilgrim's Pride in the third quarter worth about $6,277,000. Institutional investors and hedge funds own 16.64% of the company's stock.

Analyst Upgrades and Downgrades

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

Pilgrim's Pride Stock Up 2.0 %

NASDAQ PPC traded up $1.01 during trading hours on Friday, hitting $51.34. 1,154,875 shares of the company were exchanged, compared to its average volume of 905,821. The company has a quick ratio of 1.27, a current ratio of 1.95 and a debt-to-equity ratio of 0.75. The firm has a market cap of $12.17 billion, a price-to-earnings ratio of 12.25, a PEG ratio of 0.22 and a beta of 0.81. The company has a 50 day moving average of $46.19 and a two-hundred day moving average of $41.71. Pilgrim's Pride Co. has a 52-week low of $25.23 and a 52-week high of $55.50.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.63 earnings per share (EPS) 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 company had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.69 billion. During the same quarter in the previous year, the firm earned $0.58 earnings per share. The firm's quarterly revenue was up 5.2% on a year-over-year basis. Equities research analysts anticipate that Pilgrim's Pride Co. will post 4.91 earnings per share for the current 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.