Dynamic Technology Lab Private Ltd Takes Position in Pilgrim’s Pride Corporation $PPC

Dynamic Technology Lab Private Ltd bought a new position in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 16,868 shares of the company’s stock, valued at approximately $687,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. First Trust Advisors LP increased its holdings in Pilgrim’s Pride by 21.0% during the 3rd quarter. First Trust Advisors LP now owns 447,475 shares of the company’s stock worth $18,221,000 after purchasing an additional 77,528 shares in the last quarter. United Capital Management of KS Inc. lifted its holdings in shares of Pilgrim’s Pride by 1.3% in the third quarter. United Capital Management of KS Inc. now owns 146,072 shares of the company’s stock valued at $5,948,000 after purchasing an additional 1,926 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Pilgrim’s Pride by 18.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,676,194 shares of the company’s stock valued at $108,965,000 after purchasing an additional 423,690 shares in the last quarter. Picton Mahoney Asset Management boosted its position in shares of Pilgrim’s Pride by 157.6% during the third quarter. Picton Mahoney Asset Management now owns 25,550 shares of the company’s stock valued at $1,040,000 after buying an additional 15,633 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Pilgrim’s Pride by 9.5% during the third quarter. Victory Capital Management Inc. now owns 113,904 shares of the company’s stock valued at $4,638,000 after buying an additional 9,889 shares during the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Trading Down 2.5%

Shares of Pilgrim’s Pride stock opened at $39.73 on Tuesday. Pilgrim’s Pride Corporation has a 1 year low of $35.73 and a 1 year high of $56.88. The firm has a market cap of $9.44 billion, a PE ratio of 8.75 and a beta of 0.41. The stock has a fifty day moving average price of $41.60 and a 200-day moving average price of $40.45. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.47 and a quick ratio of 0.76.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.14). The company had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Pilgrim’s Pride had a return on equity of 35.15% and a net margin of 5.85%.Pilgrim’s Pride’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm posted $1.35 earnings per share. Equities research analysts anticipate that Pilgrim’s Pride Corporation will post 5.13 EPS for the current year.

Insider Buying and Selling

In other Pilgrim’s Pride news, CFO Matthew R. Galvanoni sold 6,963 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $43.52, for a total value of $303,029.76. Following the transaction, the chief financial officer directly owned 91,397 shares in the company, valued at $3,977,597.44. The trade was a 7.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 82.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Zacks Research lowered Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pilgrim’s Pride in a report on Monday, December 29th. BMO Capital Markets upped their target price on shares of Pilgrim’s Pride from $40.00 to $42.00 and gave the stock a “market perform” rating in a research note on Friday, February 13th. Wall Street Zen downgraded shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a report on Sunday, February 15th. Finally, Barclays dropped their price target on shares of Pilgrim’s Pride from $49.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 9th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $44.33.

About Pilgrim’s Pride

Pilgrim’s Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim’s Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.

The company’s vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.