Allianz Asset Management GmbH Has $19.55 Million Position in Pilgrim's Pride Co. (PPC)
Allianz Asset Management GmbH lessened its stake in shares of Pilgrim's Pride Co. (NASDAQ:PPC) by 13.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 688,271 shares of the company’s stock after selling 108,391 shares during the quarter. Allianz Asset Management GmbH owned 0.28% of Pilgrim's Pride worth $19,554,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of PPC. Legal & General Group Plc raised its position in Pilgrim's Pride by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 18,769 shares of the company’s stock valued at $412,000 after purchasing an additional 347 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Pilgrim's Pride by 9.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,203 shares of the company’s stock valued at $201,000 after purchasing an additional 798 shares during the last quarter. Voya Investment Management LLC raised its position in Pilgrim's Pride by 4.3% in the 2nd quarter. Voya Investment Management LLC now owns 19,808 shares of the company’s stock valued at $434,000 after purchasing an additional 813 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Pilgrim's Pride by 0.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 383,553 shares of the company’s stock valued at $10,897,000 after purchasing an additional 1,676 shares during the last quarter. Finally, Macquarie Group Ltd. raised its position in Pilgrim's Pride by 3.4% in the 3rd quarter. Macquarie Group Ltd. now owns 61,400 shares of the company’s stock valued at $1,745,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 24.62% of the company’s stock.
Shares of Pilgrim's Pride Co. (PPC) opened at $35.90 on Tuesday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.81 and a current ratio of 1.65. Pilgrim's Pride Co. has a 52 week low of $17.78 and a 52 week high of $38.39. The company has a market capitalization of $9,030.00, a price-to-earnings ratio of 14.40 and a beta of 0.29.
Pilgrim's Pride (NASDAQ:PPC) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.21. Pilgrim's Pride had a return on equity of 53.62% and a net margin of 7.03%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the previous year, the firm earned $0.40 earnings per share. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. analysts anticipate that Pilgrim's Pride Co. will post 2.85 EPS for the current year.
Several equities analysts have issued reports on PPC shares. Jefferies Group set a $32.00 price objective on Pilgrim's Pride and gave the company a “hold” rating in a research report on Thursday, November 16th. ValuEngine upgraded Pilgrim's Pride from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. BidaskClub downgraded Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 7th. BMO Capital Markets boosted their target price on Pilgrim's Pride from $24.00 to $38.00 and gave the stock a “market perform” rating in a research report on Thursday, November 9th. Finally, Morgan Stanley started coverage on Pilgrim's Pride in a research report on Friday, November 3rd. They set an “equal weight” rating and a $30.00 target price for the company. Six investment analysts have rated the stock with a hold rating and three have given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $32.50.
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About Pilgrim's Pride
Pilgrim’s Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.
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