Quantinno Capital Management LP Increases Position in Pilgrim’s Pride Corporation $PPC

Quantinno Capital Management LP boosted its position in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 134.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 112,126 shares of the company’s stock after acquiring an additional 64,292 shares during the quarter. Quantinno Capital Management LP’s holdings in Pilgrim’s Pride were worth $4,234,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PPC. Torren Management LLC bought a new position in shares of Pilgrim’s Pride during the 4th quarter valued at about $31,000. MCF Advisors LLC purchased a new stake in Pilgrim’s Pride in the fourth quarter worth approximately $35,000. Kingdom Financial Group LLC. purchased a new stake in Pilgrim’s Pride in the fourth quarter worth approximately $37,000. Bessemer Group Inc. grew its position in Pilgrim’s Pride by 205.4% during the first quarter. Bessemer Group Inc. now owns 1,014 shares of the company’s stock valued at $39,000 after acquiring an additional 682 shares during the last quarter. Finally, Quarry LP grew its position in Pilgrim’s Pride by 30.5% during the fourth quarter. Quarry LP now owns 1,248 shares of the company’s stock valued at $49,000 after acquiring an additional 292 shares during the last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays raised shares of Pilgrim’s Pride from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $45.00 to $42.00 in a research note on Friday, May 1st. Bank of America reduced their target price on shares of 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 cut shares of 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 shares of Pilgrim’s Pride in a research note on Wednesday, April 15th. Finally, UBS Group cut their price target on shares of Pilgrim’s Pride from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Friday. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $36.50.

Pilgrim’s Pride Stock Down 0.4%

Shares of NASDAQ PPC opened at $27.45 on Friday. The firm’s fifty day moving average is $28.43 and its 200 day moving average is $33.85. Pilgrim’s Pride Corporation has a 52 week low of $26.11 and a 52 week high of $50.56. The company has a quick ratio of 0.62, a current ratio of 1.36 and a debt-to-equity ratio of 0.76. The company has a market cap of $6.54 billion, a price-to-earnings ratio of 11.93 and a beta of 0.29.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.06). Pilgrim’s Pride had a net margin of 2.96% and a return on equity of 21.70%. The firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same period in the previous year, the company earned $1.70 EPS. The company’s quarterly revenue was down 2.8% on a year-over-year basis. On average, equities research analysts expect that Pilgrim’s Pride Corporation will post 2.95 earnings per share for the current year.

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.