Algert Global LLC Has $5.62 Million Stake in Pilgrim’s Pride Co. (NASDAQ:PPC)

Algert Global LLC raised its holdings in Pilgrim’s Pride Co. (NASDAQ:PPC) by 63.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 121,936 shares of the company’s stock after acquiring an additional 47,264 shares during the period. Algert Global LLC owned about 0.05% of Pilgrim’s Pride worth $5,615,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PPC. SG Americas Securities LLC acquired a new position in shares of Pilgrim’s Pride during the second quarter worth about $1,583,000. Quadrature Capital Ltd acquired a new position in shares of Pilgrim’s Pride during the first quarter worth about $904,000. ORG Wealth Partners LLC acquired a new position in shares of Pilgrim’s Pride during the third quarter worth about $29,000. Assetmark Inc. boosted its position in shares of Pilgrim’s Pride by 145,879.0% during the third quarter. Assetmark Inc. now owns 827,701 shares of the company’s stock worth $38,116,000 after buying an additional 827,134 shares during the period. Finally, Pacer Advisors Inc. boosted its position in shares of Pilgrim’s Pride by 1,289.4% during the third quarter. Pacer Advisors Inc. now owns 5,225,216 shares of the company’s stock worth $240,621,000 after buying an additional 4,849,147 shares during the period. 16.64% of the stock is owned by institutional investors and hedge funds.

Pilgrim’s Pride Price Performance

NASDAQ:PPC opened at $51.71 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.95 and a debt-to-equity ratio of 0.75. The stock’s 50 day moving average price is $47.28 and its two-hundred day moving average price is $42.41. The firm has a market capitalization of $12.26 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 0.22 and a beta of 0.81. Pilgrim’s Pride Co. has a 12-month low of $25.23 and a 12-month high of $55.50.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.36. The firm had revenue of $4.58 billion for the quarter, compared to analyst estimates 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 for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.58 earnings per share. On average, analysts anticipate that Pilgrim’s Pride Co. will post 4.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

PPC has been the subject of several recent 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 upped their target price on Pilgrim’s Pride from $42.00 to $43.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Barclays upped their target price on Pilgrim’s Pride from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Stephens began coverage on Pilgrim’s Pride in a report on Thursday, October 3rd. They set an “equal weight” rating and a $43.00 target price on the stock. Finally, Argus upped their target price on Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.