Pilgrim's Pride Corporation (NASDAQ:PPC) Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lifted its stake in shares of Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) by 22.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,129 shares of the company's stock after buying an additional 12,840 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Pilgrim's Pride were worth $3,877,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. New York State Common Retirement Fund lifted its position in Pilgrim's Pride by 10.3% in the fourth quarter. New York State Common Retirement Fund now owns 17,734 shares of the company's stock valued at $805,000 after acquiring an additional 1,662 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Pilgrim's Pride during the fourth quarter worth about $292,000. Bank of New York Mellon Corp increased its position in shares of Pilgrim's Pride by 15.6% during the fourth quarter. Bank of New York Mellon Corp now owns 429,440 shares of the company's stock worth $19,492,000 after purchasing an additional 57,837 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Pilgrim's Pride by 3.2% in the 4th quarter. Amalgamated Bank now owns 19,033 shares of the company's stock valued at $864,000 after purchasing an additional 585 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in shares of Pilgrim's Pride by 40.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 24,189 shares of the company's stock valued at $1,098,000 after purchasing an additional 6,955 shares during the period. Institutional investors and hedge funds own 16.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PPC shares. The Goldman Sachs Group started coverage on 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. Santander initiated coverage on shares of Pilgrim's Pride in a report on Wednesday, March 5th. They issued a "neutral" rating on the stock. BMO Capital Markets increased their price target on shares of Pilgrim's Pride from $47.00 to $48.00 and gave the stock a "market perform" rating in a research note on Monday, March 17th. Finally, Wall Street Zen raised shares of Pilgrim's Pride from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 21st. Six equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Pilgrim's Pride currently has a consensus rating of "Hold" and an average target price of $48.67.

Pilgrim's Pride Stock Performance

Shares of Pilgrim's Pride stock traded up $0.17 during trading hours on Wednesday, hitting $45.66. 462,495 shares of the company were exchanged, compared to its average volume of 1,242,380. The company has a current ratio of 1.35, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. The business has a 50-day moving average of $47.92 and a 200-day moving average of $49.25. Pilgrim's Pride Corporation has a 1 year low of $37.28 and a 1 year high of $57.16. The stock has a market capitalization of $10.83 billion, a price-to-earnings ratio of 8.99 and a beta of 0.45.

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 for the quarter, beating the consensus estimate of $1.26 by $0.05. The business had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.53 billion. Pilgrim's Pride had a net margin of 6.72% and a return on equity of 36.95%. The business's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 earnings per share. As a group, analysts expect 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.