Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 10,800 shares of the company's stock, valued at approximately $589,000.
Other large investors have also modified their holdings of the company. Accredited Wealth Management LLC acquired a new stake in Pilgrim's Pride in the fourth quarter valued at $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Pilgrim's Pride during the 4th quarter worth approximately $55,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Pilgrim's Pride during the 4th quarter worth approximately $118,000. Central Pacific Bank Trust Division acquired a new stake in shares of Pilgrim's Pride in the 1st quarter worth approximately $133,000. Finally, US Bancorp DE boosted its position in Pilgrim's Pride by 23.3% during the fourth quarter. US Bancorp DE now owns 3,445 shares of the company's stock worth $156,000 after purchasing an additional 650 shares in the last quarter. 16.64% of the stock is owned by hedge funds and other institutional investors.
Pilgrim's Pride Trading Down 1.1%
Shares of NASDAQ PPC traded down $0.49 during midday trading on Tuesday, reaching $45.38. 1,403,889 shares of the stock were exchanged, compared to its average volume of 1,203,139. The company has a current ratio of 2.01, a quick ratio of 1.31 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $10.76 billion, a P/E ratio of 9.95 and a beta of 0.48. The stock has a 50 day moving average price of $49.92 and a 200-day moving average price of $49.79. Pilgrim's Pride Co. has a 52-week low of $33.94 and a 52-week high of $57.16.
Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last issued its quarterly 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. Pilgrim's Pride had a return on equity of 32.83% and a net margin of 6.08%. The company had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same period in the previous year, the firm posted $0.77 EPS. Pilgrim's Pride's revenue was up 2.3% on a year-over-year basis. Equities research analysts expect that Pilgrim's Pride Co. will post 5.13 earnings per share for the current fiscal year.
Pilgrim's Pride Increases Dividend
The firm 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.
Analysts Set New Price Targets
Several research firms recently commented on PPC. BMO Capital Markets boosted 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. Santander started coverage on shares of Pilgrim's Pride in a report on Wednesday, March 5th. They issued a "neutral" rating on the stock. Finally, Wall Street Zen lowered shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 29th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $48.40.
View Our Latest Research Report on PPC
About Pilgrim's Pride
(
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.
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