State of New Jersey Common Pension Fund D Buys 2,465 Shares of Pilgrim’s Pride Corporation $PPC

State of New Jersey Common Pension Fund D grew its stake in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 6.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,289 shares of the company’s stock after buying an additional 2,465 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Pilgrim’s Pride were worth $1,722,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PPC. AQR Capital Management LLC increased its holdings in Pilgrim’s Pride by 25.9% during the 1st quarter. AQR Capital Management LLC now owns 2,370,927 shares of the company’s stock worth $128,599,000 after acquiring an additional 487,219 shares during the period. Cubist Systematic Strategies LLC increased its holdings in shares of Pilgrim’s Pride by 77.0% in the first quarter. Cubist Systematic Strategies LLC now owns 785,098 shares of the company’s stock worth $42,796,000 after purchasing an additional 341,517 shares during the period. Allianz Asset Management GmbH increased its holdings in shares of Pilgrim’s Pride by 448.0% in the second quarter. Allianz Asset Management GmbH now owns 396,785 shares of the company’s stock worth $17,847,000 after purchasing an additional 324,382 shares during the period. Assetmark Inc. increased its holdings in shares of Pilgrim’s Pride by 26.1% in the first quarter. Assetmark Inc. now owns 1,070,893 shares of the company’s stock worth $58,374,000 after purchasing an additional 221,617 shares during the period. Finally, Millennium Management LLC increased its stake in Pilgrim’s Pride by 180.7% in the 1st quarter. Millennium Management LLC now owns 342,774 shares of the company’s stock worth $18,685,000 after acquiring an additional 220,673 shares during the last quarter. Institutional investors own 16.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PPC shares. Wall Street Zen lowered Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings upgraded shares of Pilgrim’s Pride from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. Zacks Research cut shares of Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 9th. Finally, The Goldman Sachs Group decreased their price target on shares of Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Pilgrim’s Pride has a consensus rating of “Hold” and an average target price of $47.00.

Pilgrim’s Pride Price Performance

Shares of Pilgrim’s Pride stock opened at $38.10 on Monday. The company has a current ratio of 1.63, a quick ratio of 0.88 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $9.05 billion, a PE ratio of 7.38 and a beta of 0.45. The business’s 50-day moving average price is $40.80 and its 200-day moving average price is $45.36. Pilgrim’s Pride Corporation has a 12 month low of $35.73 and a 12 month high of $57.16.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. Pilgrim’s Pride had a net margin of 6.70% and a return on equity of 37.75%. The business had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same period last year, the business earned $1.63 earnings per share. The business’s quarterly revenue was up 3.8% on a year-over-year basis. Sell-side analysts forecast that Pilgrim’s Pride Corporation will post 5.13 EPS for the current fiscal year.

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.