Artemis Investment Management LLP Has $5.92 Million Position in Pilgrim's Pride Corporation (NASDAQ:PPC)

Artemis Investment Management LLP lowered its position in Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) by 31.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,588 shares of the company's stock after selling 48,905 shares during the quarter. Artemis Investment Management LLP's holdings in Pilgrim's Pride were worth $5,919,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Point72 Asset Management L.P. grew its position in Pilgrim's Pride by 102.0% in the fourth quarter. Point72 Asset Management L.P. now owns 16,381 shares of the company's stock worth $744,000 after buying an additional 827,381 shares during the last quarter. AQR Capital Management LLC grew its position in Pilgrim's Pride by 44.1% in the fourth quarter. AQR Capital Management LLC now owns 1,883,708 shares of the company's stock worth $85,502,000 after buying an additional 576,438 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in Pilgrim's Pride by 26.8% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,845,480 shares of the company's stock worth $83,766,000 after buying an additional 389,967 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its position in Pilgrim's Pride by 156.4% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 333,077 shares of the company's stock worth $15,118,000 after buying an additional 203,192 shares during the last quarter. Finally, Ruffer LLP acquired a new position in Pilgrim's Pride in the fourth quarter worth approximately $8,381,000. Institutional investors and hedge funds own 16.64% of the company's stock.

Analysts Set New Price Targets

PPC has been the topic of several recent research reports. The Goldman Sachs Group initiated coverage on shares of Pilgrim's Pride in a research report on Monday, June 23rd. They issued a "neutral" rating and a $50.00 price target on the stock. Santander began coverage on shares of Pilgrim's Pride in a research report on Wednesday, March 5th. They set a "neutral" rating on the stock. BMO Capital Markets lifted their price objective on shares of Pilgrim's Pride from $47.00 to $48.00 and gave the stock a "market perform" rating in a research report on Monday, March 17th. Finally, Wall Street Zen upgraded shares of Pilgrim's Pride from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Six research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Pilgrim's Pride currently has an average rating of "Hold" and an average price target of $48.67.

Pilgrim's Pride Trading Up 0.0%

NASDAQ PPC traded up $0.01 on Friday, hitting $44.56. 2,073,286 shares of the stock were exchanged, compared to its average volume of 1,238,111. Pilgrim's Pride Corporation has a 52-week low of $37.28 and a 52-week high of $57.16. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.35 and a quick ratio of 0.88. The company has a market capitalization of $10.57 billion, a price-to-earnings ratio of 8.79 and a beta of 0.48. The company's 50-day moving average price is $48.27 and its two-hundred day moving average price is $49.32.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last issued its 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 company had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.53 billion. Pilgrim's Pride had a net margin of 6.72% and a return on equity of 36.95%. The company's revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $0.77 EPS. Research analysts predict that Pilgrim's Pride Corporation will post 5.13 EPS for the current year.

Pilgrim's Pride 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.