Tidal Investments LLC Grows Position in Pilgrim's Pride Co. (NASDAQ:PPC)

Tidal Investments LLC grew its stake in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 31.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,745 shares of the company's stock after purchasing an additional 10,489 shares during the period. Tidal Investments LLC's holdings in Pilgrim's Pride were worth $2,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. increased its position 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 worth $240,621,000 after purchasing an additional 4,849,147 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of 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 during the last quarter. Geode Capital Management LLC increased its holdings in shares of Pilgrim's Pride by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 881,900 shares of the company's stock worth $40,620,000 after buying an additional 11,128 shares during the last quarter. Assetmark Inc. lifted its holdings in Pilgrim's Pride by 145,879.0% in 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. Finally, AQR Capital Management LLC lifted its holdings in 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 during the last quarter. Institutional investors and hedge funds own 16.64% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PPC shares. BMO Capital Markets raised their target price on 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. Barclays raised their price objective 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. Stephens started coverage on shares of Pilgrim's Pride in a research report on Thursday, October 3rd. They issued an "equal weight" rating and a $43.00 target price on the stock. Finally, Argus lifted their price target on shares of Pilgrim's Pride from $50.00 to $55.00 and gave the company a "buy" rating in a research report on Wednesday, August 28th. Five investment 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 data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $45.50.

Pilgrim's Pride Trading Down 1.1 %

Pilgrim's Pride stock traded down $0.54 during midday trading on Tuesday, reaching $50.65. 860,299 shares of the stock traded hands, compared to its average volume of 901,687. The firm has a market cap of $12.01 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 0.20 and a beta of 0.82. 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 company has a 50-day simple moving average of $49.40 and a two-hundred day simple moving average of $43.96. Pilgrim's Pride Co. has a 12-month low of $25.87 and a 12-month high of $55.50.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.63 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 during the quarter, compared to analyst estimates of $4.69 billion. During the same quarter last year, the firm posted $0.58 earnings per share. The business's revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts expect that Pilgrim's Pride Co. will post 5.12 earnings per share for the current fiscal year.

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.