New York State Teachers Retirement System Raises Holdings in Pilgrim’s Pride Co. (NASDAQ:PPC)

New York State Teachers Retirement System boosted its holdings in Pilgrim’s Pride Co. (NASDAQ:PPC) by 12.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,731 shares of the company’s stock after buying an additional 2,367 shares during the quarter. New York State Teachers Retirement System’s holdings in Pilgrim’s Pride were worth $955,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Norden Group LLC purchased a new position in Pilgrim’s Pride during the 1st quarter worth $308,000. GSA Capital Partners LLP raised its holdings in shares of Pilgrim’s Pride by 44.2% in the first quarter. GSA Capital Partners LLP now owns 14,117 shares of the company’s stock worth $484,000 after acquiring an additional 4,329 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of Pilgrim’s Pride by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 35,230 shares of the company’s stock worth $1,209,000 after purchasing an additional 456 shares during the last quarter. Duality Advisers LP purchased a new stake in Pilgrim’s Pride in the 1st quarter worth approximately $303,000. Finally, Quantbot Technologies LP lifted its position in Pilgrim’s Pride by 111.3% during the first quarter. Quantbot Technologies LP now owns 27,322 shares of the company’s stock worth $938,000 after buying an additional 14,391 shares during the period. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Trading Up 2.8 %

Pilgrim’s Pride stock opened at $53.82 on Friday. The firm has a market cap of $12.76 billion, a price-to-earnings ratio of 13.00, a price-to-earnings-growth ratio of 0.22 and a beta of 0.81. Pilgrim’s Pride Co. has a 1 year low of $25.23 and a 1 year high of $55.50. The firm’s 50 day moving average price is $45.68 and its two-hundred day moving average price is $41.29. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.27 and a current ratio of 1.95.

Pilgrim’s Pride (NASDAQ:PPC) last released its earnings results on Wednesday, October 30th. The company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.36. The business had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.69 billion. Pilgrim’s Pride had a net margin of 5.46% and a return on equity of 29.92%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $0.58 earnings per share. On average, research analysts predict that Pilgrim’s Pride Co. will post 4.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Bank of America lowered Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a research note on Thursday, August 15th. Barclays boosted their target price on shares of Pilgrim’s Pride from $45.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Stephens began coverage on shares of Pilgrim’s Pride in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price objective for the company. Argus boosted their price target on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Finally, BMO Capital Markets lifted 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. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.