Caxton Associates LP raised its position in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 120.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,144 shares of the company's stock after purchasing an additional 21,962 shares during the quarter. Caxton Associates LP's holdings in Pilgrim's Pride were worth $1,822,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC grew its stake in shares of Pilgrim's Pride by 44.1% in the 4th quarter. AQR Capital Management LLC now owns 1,883,708 shares of the company's stock valued at $85,502,000 after buying an additional 576,438 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake 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 valued at $15,118,000 after acquiring an additional 203,192 shares during the last quarter. Ruffer LLP bought a new stake in Pilgrim's Pride in the fourth quarter worth approximately $8,381,000. Advisors Preferred LLC acquired a new position in shares of Pilgrim's Pride during the 4th quarter worth $8,601,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Pilgrim's Pride by 15.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,377,236 shares of the company's stock valued at $62,513,000 after purchasing an additional 180,164 shares in the last quarter. Hedge funds and other institutional investors own 16.64% of the company's stock.
Pilgrim's Pride Price Performance
NASDAQ PPC opened at $46.14 on Monday. The stock has a 50-day simple moving average of $52.32 and a 200 day simple moving average of $50.14. Pilgrim's Pride Co. has a twelve month low of $33.70 and a twelve month high of $57.16. The stock has a market capitalization of $10.95 billion, a PE ratio of 10.12 and a beta of 0.51. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01.
Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $4.46 billion during the quarter, compared to analysts' expectations of $4.53 billion. Pilgrim's Pride had a return on equity of 32.83% and a net margin of 6.08%. Pilgrim's Pride's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.77 earnings per share. Research analysts anticipate that Pilgrim's Pride Co. will post 5.13 EPS for the current year.
Pilgrim's Pride Increases Dividend
The company also recently announced a special dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 3rd were given a dividend of $6.30 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This is an increase from Pilgrim's Pride's previous special dividend of $2.75.
Analyst Upgrades and Downgrades
Several research firms have commented on PPC. BMO Capital Markets increased their target price 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. StockNews.com lowered Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 2nd. Finally, Santander began coverage on Pilgrim's Pride in a report on Wednesday, March 5th. They issued a "neutral" rating for the company. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Pilgrim's Pride presently has an average rating of "Hold" and an average target price of $48.40.
Check Out Our Latest Analysis on PPC
Pilgrim's Pride Company Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding PPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pilgrim's Pride Co. (NASDAQ:PPC - Free Report).
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