Aigen Investment Management LP Reduces Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

Aigen Investment Management LP lessened its stake in Pilgrim’s Pride Co. (NASDAQ:PPC) by 41.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,970 shares of the company’s stock after selling 8,598 shares during the period. Aigen Investment Management LP’s holdings in Pilgrim’s Pride were worth $551,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PPC. Harbor Capital Advisors Inc. purchased a new stake in Pilgrim’s Pride during the third quarter valued at approximately $27,000. ORG Wealth Partners LLC purchased a new position in shares of Pilgrim’s Pride in the third quarter worth $29,000. ORG Partners LLC bought a new position in shares of Pilgrim’s Pride during the 2nd quarter valued at about $32,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Pilgrim’s Pride during the second quarter valued at approximately $32,000. Finally, Raleigh Capital Management Inc. bought a new position in shares of Pilgrim’s Pride during the 3rd quarter valued at approximately $34,000. Institutional investors own 16.64% of the company’s stock.

Analysts Set New Price Targets

PPC has been the subject of a number of analyst reports. Barclays increased their price target on shares of Pilgrim’s Pride from $45.00 to $49.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Stephens began coverage on shares of Pilgrim’s Pride in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price target on the stock. Bank of America lowered shares of Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price objective for the company. in a report on Thursday, August 15th. BMO Capital Markets upped their target price on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st. Finally, Argus lifted their price target on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Five 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 company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $45.50.

Pilgrim’s Pride Trading Down 1.0 %

NASDAQ:PPC opened at $52.72 on Thursday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.27 and a current ratio of 1.95. The firm has a 50-day simple moving average of $46.10 and a 200-day simple moving average of $41.65. Pilgrim’s Pride Co. has a one year low of $25.23 and a one year high of $55.50. The firm has a market cap of $12.50 billion, a P/E ratio of 12.73, a P/E/G ratio of 0.23 and a beta of 0.81.

Pilgrim’s Pride (NASDAQ:PPC) last posted its earnings results on Wednesday, October 30th. The company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.36. Pilgrim’s Pride had a return on equity of 29.92% and a net margin of 5.46%. The company had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.69 billion. During the same quarter in the prior year, the business earned $0.58 earnings per share. Pilgrim’s Pride’s revenue was up 5.2% on a year-over-year basis. Equities analysts anticipate that Pilgrim’s Pride Co. will post 4.91 EPS for the current fiscal year.

About Pilgrim’s Pride

Pilgrim's Pride Corporation produces, processes, markets, and distributes fresh, frozen, and value-added chicken and pork products to retailers, distributors, and foodservice operators. The company offers fresh products, including refrigerated whole or cut-up chicken, selected chicken parts that are either marinated or non-marinated, primary pork cuts, added value pork, and pork ribs; and prepared products, which include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, processed sausages, bacon, smoked meat, gammon joints, pre-packed meats, sandwich and deli counter meats and meat balls.