Barings LLC Purchases Shares of 32,797 Pilgrim’s Pride Corporation $PPC

Barings LLC acquired a new position in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 32,797 shares of the company’s stock, valued at approximately $1,335,000.

Other large investors also recently made changes to their positions in the company. AE Wealth Management LLC purchased a new position in shares of Pilgrim’s Pride during the third quarter valued at approximately $934,000. Caisse Des Depots ET Consignations purchased a new stake in Pilgrim’s Pride in the 3rd quarter valued at $1,609,000. CWA Asset Management Group LLC lifted its stake in Pilgrim’s Pride by 363.2% during the 3rd quarter. CWA Asset Management Group LLC now owns 101,158 shares of the company’s stock valued at $4,119,000 after acquiring an additional 79,319 shares in the last quarter. Allianz SE purchased a new position in Pilgrim’s Pride during the 2nd quarter worth $533,000. Finally, Campbell & CO Investment Adviser LLC grew its stake in shares of Pilgrim’s Pride by 165.7% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 20,579 shares of the company’s stock worth $926,000 after acquiring an additional 12,834 shares in the last quarter. 16.64% of the stock is currently owned by institutional investors and hedge funds.

Pilgrim’s Pride Stock Performance

NASDAQ PPC opened at $41.74 on Friday. The firm has a market cap of $9.92 billion, a P/E ratio of 9.19 and a beta of 0.43. The company has a quick ratio of 0.76, a current ratio of 1.47 and a debt-to-equity ratio of 0.84. The company’s 50 day moving average is $41.21 and its 200-day moving average is $41.13. Pilgrim’s Pride Corporation has a 12-month low of $35.73 and a 12-month high of $56.88.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings data on Wednesday, February 11th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.14). Pilgrim’s Pride had a return on equity of 35.15% and a net margin of 5.85%.The business had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same period last year, the business posted $1.35 earnings per share. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. Sell-side analysts predict that Pilgrim’s Pride Corporation will post 5.13 earnings per share for the current year.

Wall Street Analyst Weigh In

PPC has been the topic of a number of recent analyst reports. BMO Capital Markets raised their price target on shares of Pilgrim’s Pride from $40.00 to $42.00 and gave the company a “market perform” rating in a research report on Friday, February 13th. Wall Street Zen cut shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research report on Sunday, February 15th. Santander upgraded Pilgrim’s Pride from a “neutral” rating to an “outperform” rating in a research note on Thursday, December 11th. Barclays decreased their price target on Pilgrim’s Pride from $49.00 to $45.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 9th. Finally, Zacks Research cut Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Pilgrim’s Pride currently has an average rating of “Hold” and an average target price of $44.33.

Pilgrim’s Pride 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.