Picton Mahoney Asset Management Has $1.44 Million Stock Holdings in Pilgrim's Pride Corporation (NASDAQ:PPC)

Picton Mahoney Asset Management lifted its holdings in shares of Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) by 97,937.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,470 shares of the company's stock after acquiring an additional 26,443 shares during the period. Picton Mahoney Asset Management's holdings in Pilgrim's Pride were worth $1,442,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Sei Investments Co. raised its stake in Pilgrim's Pride by 8.4% in the 4th quarter. Sei Investments Co. now owns 146,976 shares of the company's stock valued at $6,671,000 after purchasing an additional 11,386 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Pilgrim's Pride in the fourth quarter valued at approximately $440,000. LPL Financial LLC grew its position in Pilgrim's Pride by 5.0% in the fourth quarter. LPL Financial LLC now owns 41,826 shares of the company's stock valued at $1,898,000 after acquiring an additional 1,973 shares in the last quarter. Vanguard Group Inc. grew its position in Pilgrim's Pride by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 5,113,888 shares of the company's stock valued at $232,119,000 after acquiring an additional 33,965 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in Pilgrim's Pride by 4.7% in the fourth quarter. Prudential Financial Inc. now owns 68,134 shares of the company's stock valued at $3,093,000 after acquiring an additional 3,052 shares in the last quarter. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. The Goldman Sachs Group assumed coverage on shares of Pilgrim's Pride in a research note on Monday, June 23rd. They set a "neutral" rating and a $50.00 price objective on the stock. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $48.67.

Pilgrim's Pride Stock Performance

Shares of PPC stock traded up $0.54 during trading hours on Friday, reaching $47.93. 1,465,490 shares of the company's stock were exchanged, compared to its average volume of 1,313,690. The business has a fifty day moving average price of $46.44 and a 200-day moving average price of $49.14. 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 stock has a market capitalization of $11.37 billion, a P/E ratio of 9.24 and a beta of 0.45. Pilgrim's Pride Corporation has a fifty-two week low of $40.09 and a fifty-two week high of $57.16.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.54 by $0.16. The company had revenue of $4.76 billion for the quarter, compared to analysts' expectations of $4.62 billion. Pilgrim's Pride had a return on equity of 36.86% and a net margin of 6.81%. The business's revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.67 earnings per share. 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.