GAMMA Investing LLC Buys 650 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

GAMMA Investing LLC boosted its stake in Pilgrim’s Pride Co. (NASDAQ:PPC) by 31.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,688 shares of the company’s stock after purchasing an additional 650 shares during the period. GAMMA Investing LLC’s holdings in Pilgrim’s Pride were worth $122,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. raised its holdings in Pilgrim’s Pride by 1,289.4% in the 3rd quarter. Pacer Advisors Inc. now owns 5,225,216 shares of the company’s stock valued at $240,621,000 after buying an additional 4,849,147 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Pilgrim’s Pride by 903.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,455,513 shares of the company’s stock valued at $67,026,000 after acquiring an additional 1,310,530 shares during the last quarter. Assetmark Inc. lifted its holdings 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 purchasing an additional 827,134 shares during the period. AQR Capital Management LLC grew its stake in shares of Pilgrim’s Pride by 366.1% in the second quarter. AQR Capital Management LLC now owns 638,825 shares of the company’s stock worth $24,320,000 after purchasing an additional 501,776 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Pilgrim’s Pride by 88.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 433,891 shares of the company’s stock valued at $19,981,000 after purchasing an additional 203,408 shares during the period. Institutional investors own 16.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on 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 report on Friday, November 1st. Stephens started coverage on Pilgrim’s Pride in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 target price on the stock. Finally, BMO Capital Markets increased their target price on shares of 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. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $45.50.

Pilgrim’s Pride Stock Up 1.3 %

Shares of Pilgrim’s Pride stock opened at $45.94 on Friday. The stock’s 50-day moving average is $49.60 and its 200 day moving average is $45.27. Pilgrim’s Pride Co. has a one year low of $26.52 and a one year high of $55.50. The firm has a market cap of $10.89 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 0.20 and a beta of 0.84. 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 posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.36. The firm had revenue of $4.58 billion for 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 company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.58 EPS. Equities research analysts anticipate that Pilgrim’s Pride Co. will post 5.12 EPS for the current year.

Pilgrim’s Pride Company 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.