Campbell & CO Investment Adviser LLC Increases Stock Holdings in Pilgrim’s Pride Corporation $PPC

Campbell & CO Investment Adviser LLC grew its holdings in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 165.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,579 shares of the company’s stock after purchasing an additional 12,834 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Pilgrim’s Pride were worth $926,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in PPC. Connor Clark & Lunn Investment Management Ltd. grew its position in Pilgrim’s Pride by 1,047.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 82,857 shares of the company’s stock valued at $3,727,000 after buying an additional 75,637 shares during the period. Aviva PLC purchased a new position in shares of Pilgrim’s Pride during the 2nd quarter worth $514,000. Resona Asset Management Co. Ltd. grew its position in shares of Pilgrim’s Pride by 8.2% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 9,204 shares of the company’s stock valued at $414,000 after acquiring an additional 698 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Pilgrim’s Pride by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 418,369 shares of the company’s stock worth $18,818,000 after purchasing an additional 3,032 shares in the last quarter. Finally, Impact Partnership Wealth LLC raised its holdings in Pilgrim’s Pride by 16.8% in the 2nd quarter. Impact Partnership Wealth LLC now owns 7,613 shares of the company’s stock worth $342,000 after purchasing an additional 1,097 shares during the period. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Performance

NASDAQ:PPC opened at $37.65 on Friday. The stock has a 50-day moving average price of $39.55 and a 200 day moving average price of $44.44. The stock has a market capitalization of $8.94 billion, a P/E ratio of 7.30 and a beta of 0.48. Pilgrim’s Pride Corporation has a 12-month low of $35.73 and a 12-month high of $57.16. The company has a current ratio of 1.63, a quick ratio of 0.88 and a debt-to-equity ratio of 0.83.

Pilgrim’s Pride (NASDAQ:PPC) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.11. Pilgrim’s Pride had a return on equity of 37.75% and a net margin of 6.70%.The business had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the prior year, the company posted $1.63 EPS. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities research analysts forecast that Pilgrim’s Pride Corporation will post 5.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PPC. The Goldman Sachs Group cut their price target on Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Zacks Research upgraded Pilgrim’s Pride from a “strong sell” rating to a “hold” rating in a research note on Friday, November 7th. Wall Street Zen lowered shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Weiss Ratings downgraded shares of Pilgrim’s Pride from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, November 7th. Five research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $47.00.

Pilgrim’s Pride Profile

Pilgrim’s Pride Corp. engages in the production, processing, marketing, and distribution of fresh, frozen and value-added chicken and pork products to retailers, distributors, and foodservice operators. It operates through the following segments: U.S., U.K. and Europe, and Mexico. The company was founded by Lonnie A.