Los Angeles Capital Management LLC Has $794,000 Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

Los Angeles Capital Management LLC reduced its position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,234 shares of the company’s stock after selling 294 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Pilgrim’s Pride were worth $794,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Sigma Planning Corp acquired a new position in shares of Pilgrim’s Pride in the 3rd quarter valued at about $757,000. Assetmark Inc. grew its position in Pilgrim’s Pride by 145,879.0% during the third quarter. Assetmark Inc. now owns 827,701 shares of the company’s stock valued at $38,116,000 after purchasing an additional 827,134 shares in the last quarter. TFB Advisors LLC acquired a new position in Pilgrim’s Pride in the 3rd quarter valued at approximately $298,000. Robeco Institutional Asset Management B.V. lifted its position in Pilgrim’s Pride by 28.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 87,070 shares of the company’s stock worth $4,010,000 after buying an additional 19,518 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Pilgrim’s Pride during the 3rd quarter valued at $27,000. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Wall Street Analysts Forecast Growth

PPC has been the subject of a number of research reports. Bank of America cut 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 lifted their price target on Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Argus increased their price objective on Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Barclays boosted their target price on shares of 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. Finally, Stephens assumed coverage on shares of Pilgrim’s Pride in a report on Thursday, October 3rd. They set an “equal weight” rating and a $43.00 price target on the stock. Five investment 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 stock. According to data from MarketBeat.com, Pilgrim’s Pride presently has a consensus rating of “Hold” and an average price target of $45.50.

Pilgrim’s Pride Price Performance

Shares of Pilgrim’s Pride stock opened at $51.34 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.27 and a debt-to-equity ratio of 0.75. The firm has a fifty day simple moving average of $46.32 and a 200-day simple moving average of $41.82. The stock has a market capitalization of $12.17 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 0.22 and a beta of 0.81. Pilgrim’s Pride Co. has a 1-year low of $25.23 and a 1-year high of $55.50.

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

About Pilgrim’s Pride

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.