Retirement Systems of Alabama acquired a new stake in Pilgrim’s Pride Co. (NASDAQ:PPC) in the third quarter, according to its most recent filing with the SEC. The fund acquired 68,056 shares of the company’s stock, valued at approximately $2,181,000.

A number of other institutional investors have also added to or reduced their stakes in PPC. Man Group plc grew its stake in Pilgrim’s Pride by 1,850.8% in the 2nd quarter. Man Group plc now owns 1,745,958 shares of the company’s stock valued at $44,330,000 after buying an additional 1,656,458 shares in the last quarter. APG Asset Management N.V. purchased a new position in shares of Pilgrim’s Pride during the 2nd quarter valued at $11,224,000. Prudential Financial Inc. grew its position in shares of Pilgrim’s Pride by 23.5% during the 2nd quarter. Prudential Financial Inc. now owns 2,225,706 shares of the company’s stock valued at $56,511,000 after purchasing an additional 423,761 shares in the last quarter. BlackRock Inc. grew its position in shares of Pilgrim’s Pride by 14.2% during the 2nd quarter. BlackRock Inc. now owns 2,742,638 shares of the company’s stock valued at $69,637,000 after purchasing an additional 341,062 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its position in shares of Pilgrim’s Pride by 39.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,081,831 shares of the company’s stock valued at $27,468,000 after purchasing an additional 307,281 shares in the last quarter. Institutional investors and hedge funds own 19.70% of the company’s stock.

A number of research firms have recently commented on PPC. Zacks Investment Research upgraded shares of Pilgrim’s Pride from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Tuesday, October 29th. Peel Hunt restated an “add” rating on shares of Pilgrim’s Pride in a research report on Monday, October 21st. Mizuho boosted their price target on shares of Pilgrim’s Pride from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Stephens boosted their price target on shares of Pilgrim’s Pride from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Finally, FinnCap restated a “corporate” rating on shares of Pilgrim’s Pride in a research report on Saturday, November 2nd. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $31.33.

NASDAQ PPC opened at $31.25 on Friday. The company has a market capitalization of $7.55 billion, a P/E ratio of 24.41, a P/E/G ratio of 0.84 and a beta of 0.76. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.94 and a current ratio of 1.82. Pilgrim’s Pride Co. has a 52-week low of $14.83 and a 52-week high of $32.71. The company has a fifty day moving average of $30.19 and a 200-day moving average of $28.45.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.02. The business had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.74 billion. Pilgrim’s Pride had a net margin of 3.24% and a return on equity of 17.87%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.21 earnings per share. As a group, analysts forecast that Pilgrim’s Pride Co. will post 1.87 EPS for the current fiscal year.

Pilgrim’s Pride Company Profile

Pilgrim's Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products in the United States, the United Kingdom, Europe, and Mexico. The company offers fresh chicken products, including pre-marinated or non-marinated refrigerated (nonfrozen) whole or cut-up chicken; and prepackaged case-ready chicken, such as whole chickens and chicken parts.

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Institutional Ownership by Quarter for Pilgrim`s Pride (NASDAQ:PPC)

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