Pilgrim's Pride Co. (NASDAQ:PPC) Shares Purchased by Quantbot Technologies LP

Quantbot Technologies LP increased its stake in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 165.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,691 shares of the company's stock after buying an additional 60,201 shares during the quarter. Quantbot Technologies LP's holdings in Pilgrim's Pride were worth $4,453,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PPC. CIBC Asset Management Inc raised its position in Pilgrim's Pride by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 6,836 shares of the company's stock worth $315,000 after buying an additional 216 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Pilgrim's Pride by 1.9% during the second quarter. Arizona State Retirement System now owns 13,259 shares of the company's stock worth $510,000 after purchasing an additional 244 shares during the last quarter. Bayesian Capital Management LP lifted its position in Pilgrim's Pride by 2.6% during the first quarter. Bayesian Capital Management LP now owns 11,382 shares of the company's stock valued at $391,000 after purchasing an additional 290 shares during the period. Norden Group LLC boosted its holdings in Pilgrim's Pride by 3.6% in the second quarter. Norden Group LLC now owns 9,290 shares of the company's stock valued at $358,000 after purchasing an additional 322 shares during the last quarter. Finally, CWM LLC grew its position in Pilgrim's Pride by 19.1% during the 3rd quarter. CWM LLC now owns 2,086 shares of the company's stock worth $96,000 after purchasing an additional 334 shares during the period. 16.64% of the stock is owned by institutional investors and hedge funds.

Pilgrim's Pride Price Performance

Pilgrim's Pride stock traded down $0.26 during trading on Wednesday, reaching $50.47. The company had a trading volume of 121,786 shares, compared to its average volume of 897,754. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.27 and a current ratio of 1.95. The firm's 50-day simple moving average is $47.65 and its 200 day simple moving average is $42.64. The firm has a market capitalization of $11.97 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 0.21 and a beta of 0.81. Pilgrim's Pride Co. has a 1-year low of $25.23 and a 1-year high of $55.50.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.69 billion. During the same quarter last year, the business earned $0.58 earnings per share. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Pilgrim's Pride Co. will post 4.91 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PPC. Bank of America downgraded Pilgrim's Pride from a "buy" rating to a "neutral" rating and set a $47.00 target price on the stock. in a research note on Thursday, August 15th. BMO Capital Markets upped their price objective 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. 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 report on Wednesday, August 28th. Stephens initiated coverage on shares of Pilgrim's Pride in a report on Thursday, October 3rd. They set an "equal weight" rating and a $43.00 price target on the stock. Finally, Barclays lifted 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 report on Friday, November 1st. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Pilgrim's Pride has a consensus rating of "Hold" and a consensus target price 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.