Martingale Asset Management L P Has $10.97 Million Stock Holdings in Pilgrim's Pride Co. (NASDAQ:PPC)

Martingale Asset Management L P lifted its position in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 23.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 238,151 shares of the company's stock after buying an additional 45,172 shares during the quarter. Martingale Asset Management L P owned about 0.10% of Pilgrim's Pride worth $10,967,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Pilgrim's Pride in the second quarter worth about $1,583,000. ORG Wealth Partners LLC bought a new position in shares of Pilgrim's Pride in the 3rd quarter valued at approximately $29,000. Assetmark Inc. lifted its holdings in Pilgrim's Pride by 145,879.0% in the 3rd quarter. Assetmark Inc. now owns 827,701 shares of the company's stock worth $38,116,000 after purchasing an additional 827,134 shares during the last quarter. Algert Global LLC boosted its position in Pilgrim's Pride by 63.3% during the third quarter. Algert Global LLC now owns 121,936 shares of the company's stock worth $5,615,000 after purchasing an additional 47,264 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in 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 valued at $240,621,000 after purchasing an additional 4,849,147 shares during the last quarter. Institutional investors and hedge funds own 16.64% of the company's stock.

Pilgrim's Pride Stock Performance

PPC traded up $1.13 during trading on Friday, reaching $51.61. 556,641 shares of the company's stock were exchanged, compared to its average volume of 898,569. The business has a 50 day moving average price of $48.16 and a 200 day moving average price of $42.84. The company has a market capitalization of $12.24 billion, a P/E ratio of 12.47, a PEG ratio of 0.21 and a beta of 0.81. Pilgrim's Pride Co. has a fifty-two week low of $25.33 and a fifty-two week high of $55.50. The company has a quick ratio of 1.27, a current ratio of 1.95 and a debt-to-equity ratio of 0.75.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.27 by $0.36. Pilgrim's Pride had a return on equity of 29.92% and a net margin of 5.46%. The business had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.69 billion. During the same quarter last year, the company earned $0.58 EPS. Pilgrim's Pride's revenue was up 5.2% on a year-over-year basis. As a group, analysts predict that Pilgrim's Pride Co. will post 4.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PPC shares. Argus upped their price target on shares of Pilgrim's Pride from $50.00 to $55.00 and gave the company a "buy" rating in a report on Wednesday, August 28th. Stephens started coverage on Pilgrim's Pride in a report on Thursday, October 3rd. They issued an "equal weight" rating and a $43.00 target price on the stock. BMO Capital Markets lifted their price target on Pilgrim's Pride from $42.00 to $43.00 and gave the stock a "market perform" rating in a research report on Friday, November 1st. Barclays increased their price objective on Pilgrim's Pride from $45.00 to $49.00 and gave the company an "equal weight" rating in a research report on Friday, November 1st. Finally, Bank of America lowered shares of Pilgrim's Pride from a "buy" rating to a "neutral" rating and set a $47.00 target price on the stock. in a research report on Thursday, August 15th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Pilgrim's Pride presently has an average rating of "Hold" and an average price target of $45.50.

Pilgrim's Pride Company 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.