Tidal Investments LLC Buys 10,489 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Tidal Investments LLC boosted its position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 31.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,745 shares of the company’s stock after purchasing an additional 10,489 shares during the period. Tidal Investments LLC’s holdings in Pilgrim’s Pride were worth $2,014,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vestcor Inc boosted its position in shares of Pilgrim’s Pride by 1.1% during the third quarter. Vestcor Inc now owns 19,783 shares of the company’s stock worth $911,000 after buying an additional 212 shares during the period. CIBC Asset Management Inc lifted its stake in Pilgrim’s Pride by 3.3% in the 3rd quarter. CIBC Asset Management Inc now owns 6,836 shares of the company’s stock valued at $315,000 after acquiring an additional 216 shares in the last quarter. Arizona State Retirement System boosted its position in Pilgrim’s Pride by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 13,259 shares of the company’s stock worth $510,000 after acquiring an additional 244 shares during the last quarter. Norden Group LLC grew its stake in shares of Pilgrim’s Pride by 3.6% during the 2nd quarter. Norden Group LLC now owns 9,290 shares of the company’s stock worth $358,000 after acquiring an additional 322 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Pilgrim’s Pride by 19.1% in the third quarter. CWM LLC now owns 2,086 shares of the company’s stock valued at $96,000 after purchasing an additional 334 shares during the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PPC shares. BMO Capital Markets raised their target price on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Barclays raised their price objective on Pilgrim’s Pride from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Argus increased their price target on Pilgrim’s Pride from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Finally, Stephens started coverage on Pilgrim’s Pride in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $45.50.

Pilgrim’s Pride Trading Up 2.5 %

Pilgrim’s Pride stock opened at $51.19 on Tuesday. Pilgrim’s Pride Co. has a 52 week low of $25.87 and a 52 week high of $55.50. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.27 and a current ratio of 1.95. The stock has a market capitalization of $12.14 billion, a P/E ratio of 12.36, a PEG ratio of 0.20 and a beta of 0.82. The stock has a 50-day simple moving average of $49.40 and a 200 day simple moving average of $43.96.

Pilgrim’s Pride (NASDAQ:PPC) last issued its earnings results on Wednesday, October 30th. The company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.27 by $0.36. Pilgrim’s Pride had a return on equity of 29.92% and a net margin of 5.46%. The company had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.69 billion. During the same period in the previous year, the company posted $0.58 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. Analysts expect that Pilgrim’s Pride Co. will post 5.12 earnings per share for the current year.

About Pilgrim’s Pride

Pilgrim's Pride Corporation produces, processes, markets, and distributes fresh, frozen, and value-added chicken and pork products to retailers, distributors, and foodservice operators. The company offers fresh products, including refrigerated whole or cut-up chicken, selected chicken parts that are either marinated or non-marinated, primary pork cuts, added value pork, and pork ribs; and prepared products, which include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, processed sausages, bacon, smoked meat, gammon joints, pre-packed meats, sandwich and deli counter meats and meat balls.