Pilgrim's Pride Corporation (NASDAQ:PPC) Stock Position Raised by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lifted its stake in shares of Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) by 161.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 77,337 shares of the company's stock after purchasing an additional 47,734 shares during the quarter. Nisa Investment Advisors LLC's holdings in Pilgrim's Pride were worth $4,216,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PPC. Axxcess Wealth Management LLC bought a new stake in Pilgrim's Pride during the 1st quarter valued at $218,000. Crossmark Global Holdings Inc. raised its stake in Pilgrim's Pride by 60.8% during the 1st quarter. Crossmark Global Holdings Inc. now owns 42,852 shares of the company's stock valued at $2,336,000 after acquiring an additional 16,195 shares in the last quarter. Raleigh Capital Management Inc. bought a new stake in Pilgrim's Pride during the 1st quarter valued at $74,000. Envestnet Asset Management Inc. raised its stake in Pilgrim's Pride by 117.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 90,303 shares of the company's stock valued at $4,922,000 after acquiring an additional 48,751 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Pilgrim's Pride by 0.3% during the 1st quarter. Principal Financial Group Inc. now owns 93,044 shares of the company's stock valued at $5,072,000 after acquiring an additional 290 shares in the last quarter. 16.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PPC shares. Wall Street Zen raised Pilgrim's Pride from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st. The Goldman Sachs Group started coverage on Pilgrim's Pride in a research note on Monday, June 23rd. They set a "neutral" rating and a $50.00 target price on the stock. Finally, BMO Capital Markets lifted their target price on Pilgrim's Pride from $47.00 to $48.00 and gave the company a "market perform" rating in a research note on Monday, March 17th. Six analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $48.67.

Pilgrim's Pride Price Performance

NASDAQ PPC traded up $0.17 on Friday, reaching $45.06. 863,704 shares of the stock traded hands, compared to its average volume of 1,269,395. The firm's fifty day simple moving average is $46.85 and its 200 day simple moving average is $49.13. The company has a quick ratio of 0.88, a current ratio of 1.35 and a debt-to-equity ratio of 1.02. The company has a market cap of $10.68 billion, a price-to-earnings ratio of 8.89 and a beta of 0.45. Pilgrim's Pride Corporation has a 12 month low of $38.13 and a 12 month high of $57.16.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.26 by $0.05. The firm had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.53 billion. Pilgrim's Pride had a return on equity of 36.95% and a net margin of 6.72%. The firm's quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the company posted $0.77 EPS. As a group, research analysts predict that Pilgrim's Pride Corporation will post 5.13 EPS for the current fiscal year.

Pilgrim's Pride Company Profile

Pilgrim's Pride Corp. engages in the production, processing, marketing, and distribution of fresh, frozen and value-added chicken and pork products to retailers, distributors, and foodservice operators. It operates through the following segments: U.S., U.K. and Europe, and Mexico. The company was founded by Lonnie A.