Quadrature Capital Ltd Acquires Shares of 26,347 Pilgrim’s Pride Co. (NASDAQ:PPC)

Quadrature Capital Ltd bought a new position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 26,347 shares of the company’s stock, valued at approximately $904,000.

Several other hedge funds have also recently modified their holdings of the stock. Jones Financial Companies Lllp purchased a new stake in shares of Pilgrim’s Pride during the fourth quarter worth $28,000. GAMMA Investing LLC acquired a new stake in Pilgrim’s Pride in the 4th quarter valued at about $30,000. Headlands Technologies LLC purchased a new position in Pilgrim’s Pride in the 1st quarter worth approximately $38,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Pilgrim’s Pride during the 4th quarter worth approximately $208,000. Finally, Inspire Advisors LLC acquired a new stake in shares of Pilgrim’s Pride in the first quarter valued at approximately $251,000. Institutional investors and hedge funds own 16.64% of the company’s stock.

Wall Street Analyst Weigh In

PPC has been the subject of several analyst reports. Barclays upped their target price on Pilgrim’s Pride from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Thursday. Argus raised their price objective on shares of Pilgrim’s Pride from $41.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Bank of America boosted their target price on shares of Pilgrim’s Pride from $40.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. StockNews.com raised shares of Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 3rd. Finally, The Goldman Sachs Group boosted their price objective on shares of Pilgrim’s Pride from $32.00 to $36.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $40.60.

Pilgrim’s Pride Stock Up 1.4 %

NASDAQ:PPC traded up $0.57 during mid-day trading on Friday, hitting $41.63. The stock had a trading volume of 512,028 shares, compared to its average volume of 488,082. The company has a current ratio of 1.83, a quick ratio of 1.01 and a debt-to-equity ratio of 0.96. Pilgrim’s Pride Co. has a twelve month low of $22.33 and a twelve month high of $41.75. The company has a market capitalization of $9.86 billion, a PE ratio of 20.21, a PEG ratio of 0.27 and a beta of 0.78. The stock has a 50-day simple moving average of $37.21 and a two-hundred day simple moving average of $34.08.

Pilgrim’s Pride (NASDAQ:PPC) last posted its earnings results on Wednesday, May 1st. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.60 by $0.17. The firm had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.45 billion. Pilgrim’s Pride had a return on equity of 17.35% and a net margin of 2.80%. Pilgrim’s Pride’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.08 earnings per share. On average, equities research analysts anticipate that Pilgrim’s Pride Co. will post 4.25 EPS for the current year.

Pilgrim’s Pride 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.