Dynamic Technology Lab Private Ltd Acquires New Stake in Pilgrim’s Pride Corporation $PPC

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,868 shares of the company’s stock, valued at approximately $687,000.

A number of other large investors have also bought and sold shares of PPC. AQR Capital Management LLC lifted its position in shares of Pilgrim’s Pride by 59.3% during the 2nd quarter. AQR Capital Management LLC now owns 3,776,178 shares of the company’s stock valued at $169,852,000 after buying an additional 1,405,251 shares during the last quarter. Vanguard Group Inc. raised its stake in Pilgrim’s Pride by 10.0% in the 3rd quarter. Vanguard Group Inc. now owns 5,672,728 shares of the company’s stock valued at $230,993,000 after acquiring an additional 516,598 shares during the period. Invesco Ltd. raised its stake in Pilgrim’s Pride by 48.6% in the 2nd quarter. Invesco Ltd. now owns 1,459,203 shares of the company’s stock valued at $65,635,000 after acquiring an additional 477,216 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Pilgrim’s Pride by 18.8% during the third quarter. Dimensional Fund Advisors LP now owns 2,676,194 shares of the company’s stock valued at $108,965,000 after purchasing an additional 423,690 shares during the last quarter. Finally, Norges Bank bought a new position in Pilgrim’s Pride during the second quarter worth about $18,231,000. 16.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PPC shares. Santander upgraded shares of Pilgrim’s Pride from a “neutral” rating to an “outperform” rating in a research note on Thursday, December 11th. Zacks Research cut shares of Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 11th. Wall Street Zen lowered shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research note on Sunday, February 15th. BMO Capital Markets boosted their target price on shares of Pilgrim’s Pride from $40.00 to $42.00 and gave the company a “market perform” rating in a report on Friday, February 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Pilgrim’s Pride in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Pilgrim’s Pride currently has an average rating of “Hold” and an average target price of $44.33.

Insider Transactions at Pilgrim’s Pride

In other Pilgrim’s Pride news, CFO Matthew R. Galvanoni sold 6,963 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $43.52, for a total value of $303,029.76. Following the sale, the chief financial officer directly owned 91,397 shares in the company, valued at $3,977,597.44. This represents a 7.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 82.56% of the stock is owned by corporate insiders.

Pilgrim’s Pride Trading Down 2.5%

Shares of PPC opened at $39.73 on Tuesday. The business’s 50-day moving average price is $41.60 and its 200-day moving average price is $40.45. Pilgrim’s Pride Corporation has a twelve month low of $35.73 and a twelve month high of $56.88. The stock has a market cap of $9.44 billion, a PE ratio of 8.75 and a beta of 0.41. The company has a quick ratio of 0.76, a current ratio of 1.47 and a debt-to-equity ratio of 0.84.

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 analysts’ consensus estimates of $0.78 by ($0.14). The firm had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.39 billion. Pilgrim’s Pride had a net margin of 5.85% and a return on equity of 35.15%. Pilgrim’s Pride’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.35 earnings per share. On average, equities analysts forecast that Pilgrim’s Pride Corporation will post 5.13 EPS for the current fiscal year.

About Pilgrim’s Pride

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.