Dimensional Fund Advisors LP Has $144.62 Million Position in Pilgrim’s Pride Corporation $PPC

Dimensional Fund Advisors LP raised its holdings in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 12.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,830,054 shares of the company’s stock after buying an additional 411,656 shares during the quarter. Dimensional Fund Advisors LP owned 1.61% of Pilgrim’s Pride worth $144,617,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. AQR Capital Management LLC boosted 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 acquiring an additional 1,405,251 shares in the last quarter. Balyasny Asset Management L.P. raised its position in Pilgrim’s Pride by 1,196.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 813,815 shares of the company’s stock worth $31,731,000 after purchasing an additional 751,042 shares in the last quarter. Voloridge Investment Management LLC acquired a new position in Pilgrim’s Pride in the third quarter worth about $26,501,000. Qube Research & Technologies Ltd lifted its stake in Pilgrim’s Pride by 138.7% during the third quarter. Qube Research & Technologies Ltd now owns 958,312 shares of the company’s stock worth $39,022,000 after purchasing an additional 556,766 shares during the period. Finally, Two Sigma Investments LP lifted its stake in Pilgrim’s Pride by 654.6% during the third quarter. Two Sigma Investments LP now owns 631,325 shares of the company’s stock worth $25,708,000 after purchasing an additional 547,663 shares during the period. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Price Performance

NASDAQ PPC opened at $28.68 on Monday. The stock’s 50 day simple moving average is $28.50 and its 200 day simple moving average is $34.61. Pilgrim’s Pride Corporation has a one year low of $26.50 and a one year high of $50.56. The firm has a market cap of $6.82 billion, a PE ratio of 7.69 and a beta of 0.29. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.48 and a quick ratio of 0.73.

Pilgrim’s Pride (NASDAQ:PPC) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.18). The business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.43 billion. Pilgrim’s Pride had a return on equity of 28.57% and a net margin of 4.78%.Pilgrim’s Pride’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.31 EPS. As a group, sell-side analysts forecast that Pilgrim’s Pride Corporation will post 3.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on PPC. Bank of America decreased their price objective on Pilgrim’s Pride from $37.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday, July 2nd. Weiss Ratings downgraded Pilgrim’s Pride from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, June 26th. Stephens set a $40.00 price target on Pilgrim’s Pride in a research note on Wednesday, April 15th. UBS Group initiated coverage on Pilgrim’s Pride in a research report on Tuesday, May 19th. They issued a “neutral” rating and a $30.00 price target on the stock. Finally, Barclays raised Pilgrim’s Pride from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $45.00 to $42.00 in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $36.83.

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.