Dark Forest Capital Management LP Boosts Holdings in Pilgrim’s Pride Co. (NASDAQ:PPC)

Dark Forest Capital Management LP lifted its stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC – Get Rating) by 621.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,874 shares of the company’s stock after buying an additional 4,198 shares during the quarter. Dark Forest Capital Management LP’s holdings in Pilgrim’s Pride were worth $152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of PPC. PNC Financial Services Group Inc. boosted its position in Pilgrim’s Pride by 30.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,054 shares of the company’s stock valued at $52,000 after acquiring an additional 475 shares in the last quarter. Yousif Capital Management LLC grew its stake in Pilgrim’s Pride by 1.9% in the first quarter. Yousif Capital Management LLC now owns 26,168 shares of the company’s stock worth $657,000 after purchasing an additional 480 shares during the period. Exchange Traded Concepts LLC raised its holdings in Pilgrim’s Pride by 2.3% in the second quarter. Exchange Traded Concepts LLC now owns 21,691 shares of the company’s stock worth $677,000 after purchasing an additional 496 shares in the last quarter. Teacher Retirement System of Texas lifted its position in Pilgrim’s Pride by 5.4% during the first quarter. Teacher Retirement System of Texas now owns 10,042 shares of the company’s stock valued at $252,000 after buying an additional 517 shares during the period. Finally, Prospera Financial Services Inc purchased a new position in Pilgrim’s Pride during the first quarter valued at $25,000. 16.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PPC. The Goldman Sachs Group decreased their price target on shares of Pilgrim’s Pride from $32.00 to $28.00 and set a “neutral” rating for the company in a research note on Tuesday, October 18th. Barclays lowered their target price on shares of Pilgrim’s Pride from $36.00 to $29.00 and set an “overweight” rating for the company in a report on Tuesday, October 25th. Finally, StockNews.com raised Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 4th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $32.00.

Pilgrim’s Pride Stock Down 1.0 %

NASDAQ:PPC opened at $24.94 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.80 and a current ratio of 1.55. The firm has a market cap of $5.90 billion, a P/E ratio of 6.43, a P/E/G ratio of 1.11 and a beta of 0.95. Pilgrim’s Pride Co. has a fifty-two week low of $20.23 and a fifty-two week high of $34.66. The firm has a 50-day simple moving average of $23.94 and a two-hundred day simple moving average of $27.75.

Pilgrim’s Pride (NASDAQ:PPC – Get Rating) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.22. The company had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.48 billion. Pilgrim’s Pride had a net margin of 5.40% and a return on equity of 38.44%. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.67 earnings per share. Analysts predict that Pilgrim’s Pride Co. will post 3.82 earnings per share for the current fiscal year.

Pilgrim’s Pride Profile

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Pilgrim's Pride Corporation engages in the production, processing, marketing and distribution of fresh, frozen and value-added chicken, and pork products to retailers, distributors, and foodservice operators in the United States, the United Kingdom, Mexico, the Middle East, Asia, Continental Europe, and internationally.