Strategic Investment Advisors MI Takes $297,000 Position in Pilgrim’s Pride Corporation (NASDAQ:PPC)

Strategic Investment Advisors MI bought a new stake in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,456 shares of the company’s stock, valued at approximately $297,000.

A number of other institutional investors have also recently modified their holdings of PPC. Point72 Asset Management L.P. lifted its position in shares of Pilgrim’s Pride by 102.0% during the 4th quarter. Point72 Asset Management L.P. now owns 16,381 shares of the company’s stock valued at $744,000 after acquiring an additional 827,381 shares during the period. AQR Capital Management LLC lifted its position in shares of Pilgrim’s Pride by 44.1% during the 4th quarter. AQR Capital Management LLC now owns 1,883,708 shares of the company’s stock valued at $85,502,000 after acquiring an additional 576,438 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of Pilgrim’s Pride by 26.8% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,845,480 shares of the company’s stock valued at $83,766,000 after acquiring an additional 389,967 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Pilgrim’s Pride by 156.4% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 333,077 shares of the company’s stock valued at $15,118,000 after acquiring an additional 203,192 shares during the period. Finally, Ruffer LLP bought a new stake in shares of Pilgrim’s Pride during the 4th quarter worth $8,381,000. 16.64% of the stock is currently owned by institutional investors.

Pilgrim’s Pride Price Performance

Pilgrim’s Pride stock opened at $44.91 on Thursday. The company has a current ratio of 1.35, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $10.65 billion, a PE ratio of 8.86 and a beta of 0.48. Pilgrim’s Pride Corporation has a 12 month low of $36.52 and a 12 month high of $57.16. The stock has a 50-day moving average price of $48.65 and a two-hundred day moving average price of $49.38.

Pilgrim’s Pride (NASDAQ:PPC) last posted its earnings results on Wednesday, April 30th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.26 by $0.05. The firm had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.53 billion. Pilgrim’s Pride had a return on equity of 36.95% and a net margin of 6.72%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the company earned $0.77 earnings per share. Analysts expect that Pilgrim’s Pride Corporation will post 5.13 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. The Goldman Sachs Group assumed coverage on Pilgrim’s Pride in a research report on Monday. They set a “neutral” rating and a $50.00 price objective for the company. Santander assumed coverage on Pilgrim’s Pride in a research report on Wednesday, March 5th. They set a “neutral” rating for the company. BMO Capital Markets upped their price objective on Pilgrim’s Pride from $47.00 to $48.00 and gave the stock a “market perform” rating in a research report on Monday, March 17th. Finally, Wall Street Zen upgraded Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 21st. Six equities 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, Pilgrim’s Pride presently has a consensus rating of “Hold” and an average price target of $48.67.

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.