Dynamic Technology Lab Private Ltd Buys Shares of 19,067 Pilgrim’s Pride Co. (NASDAQ:PPC)

Dynamic Technology Lab Private Ltd purchased a new stake in Pilgrim’s Pride Co. (NASDAQ:PPC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 19,067 shares of the company’s stock, valued at approximately $878,000.

Other hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new stake in Pilgrim’s Pride in the third quarter worth about $27,000. ORG Wealth Partners LLC bought a new stake in shares of Pilgrim’s Pride during the 3rd quarter worth about $29,000. Raleigh Capital Management Inc. bought a new stake in shares of Pilgrim’s Pride during the 3rd quarter worth about $34,000. ORG Partners LLC acquired a new stake in shares of Pilgrim’s Pride in the 2nd quarter worth approximately $32,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Pilgrim’s Pride in the second quarter valued at approximately $32,000. Institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Price Performance

NASDAQ PPC opened at $50.48 on Thursday. The company has a quick ratio of 1.27, a current ratio of 1.95 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $11.97 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 0.21 and a beta of 0.81. Pilgrim’s Pride Co. has a 12-month low of $25.23 and a 12-month high of $55.50. The company has a 50 day moving average price of $47.65 and a two-hundred day moving average price of $42.64.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.36. The firm had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.69 billion. Pilgrim’s Pride had a net margin of 5.46% and a return on equity of 29.92%. Pilgrim’s Pride’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.58 earnings per share. As a group, equities analysts predict that Pilgrim’s Pride Co. will post 4.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PPC has been the subject of a number of research analyst reports. Bank of America downgraded Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 target price for the company. in a research report on Thursday, August 15th. BMO Capital Markets raised their target price on Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Stephens initiated coverage on shares of Pilgrim’s Pride in a research report on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price target on the stock. Barclays boosted their price objective on Pilgrim’s Pride from $45.00 to $49.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Finally, Argus increased their target price on Pilgrim’s Pride from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $45.50.

Pilgrim’s Pride Company Profile

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.