Quantbot Technologies LP Buys 23,876 Shares of Pilgrim’s Pride Corporation $PPC

Quantbot Technologies LP lifted its stake in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 114.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,713 shares of the company’s stock after acquiring an additional 23,876 shares during the quarter. Quantbot Technologies LP’s holdings in Pilgrim’s Pride were worth $2,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in PPC. Retirement Systems of Alabama boosted its holdings in Pilgrim’s Pride by 0.4% in the second quarter. Retirement Systems of Alabama now owns 49,270 shares of the company’s stock valued at $2,216,000 after acquiring an additional 207 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Pilgrim’s Pride by 15.7% in the 2nd quarter. Parallel Advisors LLC now owns 1,655 shares of the company’s stock worth $74,000 after purchasing an additional 224 shares during the period. New York State Common Retirement Fund boosted its stake in shares of Pilgrim’s Pride by 1.3% in the 2nd quarter. New York State Common Retirement Fund now owns 17,817 shares of the company’s stock valued at $801,000 after purchasing an additional 230 shares during the last quarter. Cullen Frost Bankers Inc. increased its position in shares of Pilgrim’s Pride by 18.2% during the second quarter. Cullen Frost Bankers Inc. now owns 1,566 shares of the company’s stock worth $70,000 after buying an additional 241 shares during the period. Finally, Comerica Bank raised its stake in Pilgrim’s Pride by 2.9% during the first quarter. Comerica Bank now owns 12,359 shares of the company’s stock worth $674,000 after buying an additional 345 shares during the last quarter. 16.64% of the stock is owned by institutional investors and hedge funds.

Pilgrim’s Pride Price Performance

PPC stock opened at $39.74 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.51 and a quick ratio of 0.78. The company’s 50-day moving average is $38.20 and its 200-day moving average is $43.26. The stock has a market capitalization of $9.44 billion, a PE ratio of 7.70 and a beta of 0.43. Pilgrim’s Pride Corporation has a 1 year low of $35.73 and a 1 year high of $57.16.

Pilgrim’s Pride (NASDAQ:PPC) last issued its earnings results on Wednesday, October 29th. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. The business had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.65 billion. Pilgrim’s Pride had a return on equity of 38.17% and a net margin of 6.70%.The firm’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.63 EPS. Equities research analysts expect that Pilgrim’s Pride Corporation will post 5.13 EPS for the current fiscal year.

Analysts Set New Price Targets

PPC has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Pilgrim’s Pride from a “hold” rating to a “buy” rating in a research report on Friday, November 28th. Zacks Research raised Pilgrim’s Pride from a “strong sell” rating to a “hold” rating in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pilgrim’s Pride in a research note on Monday, December 1st. Finally, The Goldman Sachs Group lowered their target price on Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $47.00.

Pilgrim’s Pride Company Profile

Pilgrim’s Pride Corp. engages in the production, processing, marketing, and distribution of fresh, frozen and value-added chicken and pork products to retailers, distributors, and foodservice operators. It operates through the following segments: U.S., U.K. and Europe, and Mexico. The company was founded by Lonnie A.