Navellier & Associates Inc. Makes New $737,000 Investment in Pilgrim's Pride Co. (NASDAQ:PPC)

Navellier & Associates Inc. acquired a new stake in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 16,004 shares of the company's stock, valued at approximately $737,000.

Other large investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in Pilgrim's Pride by 1,289.4% in the 3rd quarter. Pacer Advisors Inc. now owns 5,225,216 shares of the company's stock valued at $240,621,000 after acquiring an additional 4,849,147 shares during the period. Vanguard Group Inc. increased its position in shares of Pilgrim's Pride by 3.3% during the first quarter. Vanguard Group Inc. now owns 4,233,961 shares of the company's stock worth $145,310,000 after buying an additional 136,970 shares during the period. Assetmark Inc. increased its position 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 worth $38,116,000 after buying an additional 827,134 shares during the period. AQR Capital Management LLC increased its position in shares of Pilgrim's Pride by 366.1% during the second quarter. AQR Capital Management LLC now owns 638,825 shares of the company's stock worth $24,320,000 after buying an additional 501,776 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Pilgrim's Pride by 16.7% during the second quarter. Renaissance Technologies LLC now owns 635,240 shares of the company's stock worth $24,450,000 after buying an additional 91,127 shares during the period. Institutional investors own 16.64% of the company's stock.

Analyst Ratings Changes

PPC has been the subject of several recent analyst reports. BMO Capital Markets increased their price objective on shares of 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. Bank of America cut shares of Pilgrim's Pride from a "buy" rating to a "neutral" rating and set a $47.00 price target for the company. in a report on Thursday, August 15th. Stephens initiated coverage on shares of Pilgrim's Pride in a report on Thursday, October 3rd. They issued an "equal weight" rating and a $43.00 price target 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 report on Wednesday, August 28th. Finally, Barclays raised their price target on shares of Pilgrim's Pride from $45.00 to $49.00 and gave the stock an "equal weight" rating in a report on Friday, November 1st. Five analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $45.50.

Pilgrim's Pride Stock Down 1.0 %

PPC traded down $0.54 during midday trading on Friday, reaching $51.71. 620,458 shares of the company were exchanged, compared to its average volume of 900,526. The company has a market cap of $12.26 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 0.22 and a beta of 0.81. Pilgrim's Pride Co. has a one year low of $25.23 and a one year high of $55.50. The company's fifty day moving average price is $47.28 and its 200 day moving average price is $42.37. 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 (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 analysts' consensus estimates of $1.27 by $0.36. The business had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.69 billion. Pilgrim's Pride had a return on equity of 29.92% and a net margin of 5.46%. Pilgrim's Pride's quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.58 EPS. As a group, analysts expect that Pilgrim's Pride Co. will post 4.91 EPS 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.