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

Algert Global LLC increased its stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 63.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,936 shares of the company’s stock after buying an additional 47,264 shares during the quarter. Algert Global LLC’s holdings in Pilgrim’s Pride were worth $5,615,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new stake in Pilgrim’s Pride during the third quarter worth approximately $27,000. ORG Wealth Partners LLC acquired a new stake in Pilgrim’s Pride during the third quarter worth approximately $29,000. ORG Partners LLC acquired a new stake in Pilgrim’s Pride during the second quarter worth approximately $32,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Pilgrim’s Pride during the second quarter worth approximately $32,000. Finally, Raleigh Capital Management Inc. acquired a new stake in Pilgrim’s Pride during the third quarter worth approximately $34,000. Institutional investors and hedge funds own 16.64% of the company’s stock.

Wall Street Analyst Weigh In

PPC has been the topic of a number of analyst reports. Stephens assumed coverage on Pilgrim’s Pride in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $43.00 price target on the stock. Barclays raised their target price on Pilgrim’s Pride from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. BMO Capital Markets raised their target price 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 raised their target price on Pilgrim’s Pride from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Finally, Bank of America downgraded Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 target price on the stock. in a report on Thursday, August 15th. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Pilgrim’s Pride presently has a consensus rating of “Hold” and a consensus price target of $45.50.

Pilgrim’s Pride Stock Down 1.0 %

Shares of PPC opened at $51.71 on Friday. Pilgrim’s Pride Co. has a 52 week low of $25.23 and a 52 week high of $55.50. The stock has a market capitalization of $12.26 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 0.22 and a beta of 0.81. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.27 and a current ratio of 1.95. The stock has a fifty day moving average of $47.28 and a 200-day moving average of $42.41.

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

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.