Campbell & CO Investment Adviser LLC Increases Position in Pilgrim’s Pride Corporation $PPC

Campbell & CO Investment Adviser LLC increased its holdings in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 117.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,672 shares of the company’s stock after purchasing an additional 24,093 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Pilgrim’s Pride were worth $1,819,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC lifted its position in shares of Pilgrim’s Pride by 59.3% during the 2nd quarter. AQR Capital Management LLC now owns 3,776,178 shares of the company’s stock valued at $169,852,000 after buying an additional 1,405,251 shares in the last quarter. Bank of America Corp DE raised its position in Pilgrim’s Pride by 22.9% during the second quarter. Bank of America Corp DE now owns 2,171,836 shares of the company’s stock worth $97,689,000 after acquiring an additional 404,915 shares during the period. State Street Corp lifted its holdings in Pilgrim’s Pride by 21.5% during the second quarter. State Street Corp now owns 1,584,740 shares of the company’s stock valued at $71,282,000 after purchasing an additional 280,745 shares in the last quarter. Invesco Ltd. lifted its stake in Pilgrim’s Pride by 48.6% in the 2nd quarter. Invesco Ltd. now owns 1,459,203 shares of the company’s stock valued at $65,635,000 after buying an additional 477,216 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Pilgrim’s Pride by 15.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,243,039 shares of the company’s stock worth $67,758,000 after buying an additional 166,967 shares during the last quarter. 16.64% of the stock is owned by institutional investors and hedge funds.

Pilgrim’s Pride Stock Down 0.6%

Shares of PPC opened at $41.37 on Friday. Pilgrim’s Pride Corporation has a 52-week low of $35.73 and a 52-week high of $57.16. The company has a market capitalization of $9.83 billion, a PE ratio of 8.02 and a beta of 0.43. The stock has a fifty day simple moving average of $38.92 and a two-hundred day simple moving average of $41.69. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.87.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.41 by $0.11. The firm had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.65 billion. Pilgrim’s Pride had a net margin of 6.70% and a return on equity of 38.17%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.63 EPS. As a group, equities analysts forecast that Pilgrim’s Pride Corporation will post 5.13 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on PPC. The Goldman Sachs Group reduced their target price on Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Barclays reduced their price objective on Pilgrim’s Pride from $49.00 to $45.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 9th. Wall Street Zen cut shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Pilgrim’s Pride in a research report on Monday, December 29th. Finally, Zacks Research raised shares of Pilgrim’s Pride from a “strong sell” rating to a “hold” rating in a research note on Friday, November 7th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $46.33.

Pilgrim’s Pride Company Profile

Pilgrim’s Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim’s Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.

The company’s vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.