Pilgrim's Pride Corporation (NASDAQ:PPC) Holdings Boosted by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lifted its holdings in shares of Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) by 161.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 77,337 shares of the company's stock after acquiring 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 SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Point72 Asset Management L.P. lifted its position in shares of Pilgrim's Pride by 102.0% during the fourth quarter. Point72 Asset Management L.P. now owns 16,381 shares of the company's stock worth $744,000 after purchasing an additional 827,381 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Pilgrim's Pride by 44.1% during the fourth quarter. AQR Capital Management LLC now owns 1,883,708 shares of the company's stock worth $85,502,000 after purchasing an additional 576,438 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Pilgrim's Pride by 26.8% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,845,480 shares of the company's stock worth $83,766,000 after purchasing an additional 389,967 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Pilgrim's Pride by 156.4% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 333,077 shares of the company's stock worth $15,118,000 after purchasing an additional 203,192 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Pilgrim's Pride by 15.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,377,236 shares of the company's stock worth $62,513,000 after purchasing an additional 180,164 shares during the last quarter. 16.64% of the stock is owned by hedge funds and other institutional investors.

Pilgrim's Pride Stock Performance

NASDAQ PPC traded up $0.13 during trading hours on Wednesday, reaching $44.16. The company's stock had a trading volume of 935,560 shares, compared to its average volume of 1,271,367. The business has a 50-day simple moving average of $46.76 and a 200 day simple moving average of $49.11. The stock has a market cap of $10.47 billion, a PE ratio of 8.71 and a beta of 0.45. The company has a current ratio of 1.35, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. Pilgrim's Pride Corporation has a 52 week low of $38.36 and a 52 week high of $57.16.

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on PPC. The Goldman Sachs Group began coverage on shares of Pilgrim's Pride in a research report on Monday, June 23rd. They set a "neutral" rating and a $50.00 price target on the stock. Wall Street Zen raised shares of Pilgrim's Pride from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 21st. Six analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $48.67.

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.