19,067 Shares in Pilgrim’s Pride Co. (NASDAQ:PPC) Bought by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd bought a new position in Pilgrim’s Pride Co. (NASDAQ:PPC) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 19,067 shares of the company’s stock, valued at approximately $878,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CIBC Asset Management Inc increased its stake in shares of Pilgrim’s Pride by 3.3% in the third quarter. CIBC Asset Management Inc now owns 6,836 shares of the company’s stock worth $315,000 after purchasing an additional 216 shares during the period. Arizona State Retirement System lifted 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 buying an additional 244 shares during the last quarter. Bayesian Capital Management LP boosted its position in shares of Pilgrim’s Pride by 2.6% in the first quarter. Bayesian Capital Management LP now owns 11,382 shares of the company’s stock valued at $391,000 after acquiring an additional 290 shares during the period. Norden Group LLC grew its stake in shares of Pilgrim’s Pride by 3.6% in the second quarter. Norden Group LLC now owns 9,290 shares of the company’s stock worth $358,000 after acquiring an additional 322 shares during the last quarter. Finally, CWM LLC increased its position in Pilgrim’s Pride by 19.1% during the third quarter. CWM LLC now owns 2,086 shares of the company’s stock worth $96,000 after acquiring an additional 334 shares during the period. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Price Performance

Pilgrim’s Pride stock opened at $50.48 on Thursday. The business has a 50 day simple moving average of $47.65 and a 200 day simple moving average of $42.64. Pilgrim’s Pride Co. has a one year low of $25.23 and a one year high of $55.50. The company has a market capitalization of $11.97 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 0.21 and a beta of 0.81. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.95 and a quick ratio of 1.27.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.36. The company had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.69 billion. Pilgrim’s Pride had a return on equity of 29.92% and a net margin of 5.46%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the business earned $0.58 earnings per share. On average, sell-side analysts forecast that Pilgrim’s Pride Co. will post 4.91 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Stephens initiated coverage on shares of Pilgrim’s Pride in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price target for the company. Barclays lifted their target price 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. Bank of America downgraded Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price objective for the company. in a research report on Thursday, August 15th. BMO Capital Markets boosted their price objective on Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Finally, Argus raised their target price on Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $45.50.

Pilgrim’s Pride 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.