Pilgrim's Pride Co. (NASDAQ:PPC) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 1.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 881,900 shares of the company's stock after purchasing an additional 11,128 shares during the period. Geode Capital Management LLC owned about 0.37% of Pilgrim's Pride worth $40,620,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. increased its stake in shares of Pilgrim's Pride by 1,289.4% during the third quarter. Pacer Advisors Inc. now owns 5,225,216 shares of the company's stock worth $240,621,000 after purchasing an additional 4,849,147 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Pilgrim's Pride by 903.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,455,513 shares of the company's stock worth $67,026,000 after buying an additional 1,310,530 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Pilgrim's Pride by 145,879.0% during the third quarter. Assetmark Inc. now owns 827,701 shares of the company's stock valued at $38,116,000 after acquiring an additional 827,134 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Pilgrim's Pride by 366.1% in the second quarter. AQR Capital Management LLC now owns 638,825 shares of the company's stock valued at $24,320,000 after acquiring an additional 501,776 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Pilgrim's Pride by 16.7% in the second quarter. Renaissance Technologies LLC now owns 635,240 shares of the company's stock worth $24,450,000 after acquiring an additional 91,127 shares during the last quarter. 16.64% of the stock is owned by institutional investors and hedge funds.

Pilgrim's Pride Trading Up 0.9 %

PPC stock traded up $0.41 during trading on Wednesday, reaching $46.30. 404,683 shares of the stock were exchanged, compared to its average volume of 921,799. The company has a current ratio of 1.95, a quick ratio of 1.27 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $10.98 billion, a price-to-earnings ratio of 11.18, a P/E/G ratio of 0.20 and a beta of 0.82. The business has a 50 day moving average price of $49.68 and a 200-day moving average price of $44.51. Pilgrim's Pride Co. has a 1 year low of $26.52 and a 1 year high of $55.50.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.27 by $0.36. The firm had revenue of $4.58 billion for the quarter, compared to analyst estimates 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 for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.58 EPS. On average, research analysts predict that Pilgrim's Pride Co. will post 5.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PPC has been the subject of several recent research reports. Stephens started coverage on Pilgrim's Pride in a research note on Thursday, October 3rd. They issued an "equal weight" rating and a $43.00 price objective for the company. 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 research note on Wednesday, August 28th. 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. Finally, BMO Capital Markets raised their target price on shares of 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. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $45.50.

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.