Canada Pension Plan Investment Board Increases Position in Pilgrim’s Pride Corporation (NASDAQ:PPC)

Canada Pension Plan Investment Board boosted its holdings in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 41.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,600 shares of the company’s stock after buying an additional 19,800 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Pilgrim’s Pride were worth $1,921,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Delphi Management Inc. MA grew its position in shares of Pilgrim’s Pride by 11.2% during the 2nd quarter. Delphi Management Inc. MA now owns 97,316 shares of the company’s stock worth $2,133,000 after buying an additional 9,803 shares during the period. California Public Employees Retirement System grew its position in shares of Pilgrim’s Pride by 2.2% during the 2nd quarter. California Public Employees Retirement System now owns 169,900 shares of the company’s stock worth $3,724,000 after buying an additional 3,600 shares during the period. LSV Asset Management grew its position in shares of Pilgrim’s Pride by 8.1% during the 2nd quarter. LSV Asset Management now owns 10,195,841 shares of the company’s stock worth $223,492,000 after buying an additional 767,317 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Pilgrim’s Pride by 9.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 792,740 shares of the company’s stock worth $17,840,000 after buying an additional 71,211 shares during the period. Finally, Chicago Equity Partners LLC grew its position in Pilgrim’s Pride by 44.3% in the 2nd quarter. Chicago Equity Partners LLC now owns 194,290 shares of the company’s stock valued at $4,259,000 after purchasing an additional 59,670 shares during the period. Hedge funds and other institutional investors own 24.62% of the company’s stock.

Several analysts recently issued reports on the stock. Jefferies Group set a $25.00 price target on shares of Pilgrim’s Pride and gave the company a “hold” rating in a research report on Tuesday, August 15th. BidaskClub raised shares of Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 12th. KeyCorp initiated coverage on shares of Pilgrim’s Pride in a research report on Tuesday, October 31st. They issued a “hold” rating for the company. BMO Capital Markets reaffirmed a “hold” rating and set a $24.00 price objective on shares of Pilgrim’s Pride in a report on Friday, August 25th. Finally, Morgan Stanley lifted their price objective on shares of Pilgrim’s Pride from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, November 10th. Six equities research analysts have rated the stock with a hold rating and three have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $32.50.

Pilgrim’s Pride Corporation (NASDAQ:PPC) traded up $0.27 during midday trading on Monday, hitting $37.55. The stock had a trading volume of 1,852,993 shares, compared to its average volume of 1,263,290. The company has a market cap of $9,273.49, a PE ratio of 14.45 and a beta of 0.29. Pilgrim’s Pride Corporation has a 12 month low of $17.77 and a 12 month high of $38.39. The company has a quick ratio of 0.81, a current ratio of 1.65 and a debt-to-equity ratio of 1.49.

Pilgrim’s Pride (NASDAQ:PPC) last released its earnings results on Tuesday, November 7th. The company reported $0.98 EPS for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.21. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Pilgrim’s Pride had a return on equity of 53.62% and a net margin of 7.03%. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.40 EPS. equities research analysts forecast that Pilgrim’s Pride Corporation will post 2.85 earnings per share for the current fiscal year.

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About Pilgrim’s Pride

Pilgrim’s Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.

Institutional Ownership by Quarter for Pilgrim`s Pride (NASDAQ:PPC)

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