6,971 Shares in Pilgrim's Pride Corporation $PPC Bought by Lecap Asset Management Ltd.

Key Points

• Lecap Asset Management Ltd. purchased 6,971 shares of Pilgrim's Pride Corporation for approximately $314,000 in the second quarter.
• Several institutional investors, including Kendall Capital Management and Viking Fund Management LLC, have significantly increased their holdings in Pilgrim's Pride during the same period.
• Pilgrim's Pride reported a net margin of 6.81% and a return on equity of 37.15%, with a quarterly revenue of $4.76 billion, exceeding expectations.

Lecap Asset Management Ltd. bought a new stake in shares of Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 6,971 shares of the company's stock, valued at approximately $314,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kendall Capital Management boosted its holdings in shares of Pilgrim's Pride by 10.7% in the 2nd quarter. Kendall Capital Management now owns 6,120 shares of the company's stock valued at $275,000 after buying an additional 590 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Pilgrim's Pride by 46.8% in the second quarter. Public Employees Retirement System of Ohio now owns 25,283 shares of the company's stock valued at $1,137,000 after acquiring an additional 8,055 shares during the period. Bfsg LLC boosted its stake in Pilgrim's Pride by 15.1% in the second quarter. Bfsg LLC now owns 21,602 shares of the company's stock valued at $972,000 after acquiring an additional 2,829 shares during the period. Kapitalo Investimentos Ltda grew its holdings in shares of Pilgrim's Pride by 116.7% during the second quarter. Kapitalo Investimentos Ltda now owns 8,142 shares of the company's stock valued at $366,000 after purchasing an additional 4,385 shares during the last quarter. Finally, Viking Fund Management LLC raised its position in shares of Pilgrim's Pride by 1,370.6% during the 2nd quarter. Viking Fund Management LLC now owns 50,000 shares of the company's stock worth $2,249,000 after purchasing an additional 46,600 shares during the period. 16.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PPC shares. Wall Street Zen lowered Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 13th. The Goldman Sachs Group assumed coverage on shares of Pilgrim's Pride in a report on Monday, June 23rd. They set a "neutral" rating and a $50.00 price target for the company. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Pilgrim's Pride in a research report on Saturday, September 27th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, Pilgrim's Pride presently has an average rating of "Hold" and an average target price of $49.00.

Pilgrim's Pride Price Performance

Shares of PPC opened at $40.72 on Friday. Pilgrim's Pride Corporation has a one year low of $39.90 and a one year high of $57.16. The stock's fifty day moving average is $44.96 and its 200-day moving average is $47.41. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.88 and a current ratio of 1.63. The firm has a market capitalization of $9.67 billion, a price-to-earnings ratio of 7.85 and a beta of 0.45.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.16. The business had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.62 billion. Pilgrim's Pride had a net margin of 6.81% and a return on equity of 37.15%. The company's quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.67 earnings per share. Equities analysts anticipate that Pilgrim's Pride Corporation will post 5.13 EPS for the current year.

Pilgrim's Pride Announces Dividend

The business also recently disclosed a special dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were paid a dividend of $2.10 per share. The ex-dividend date was Wednesday, August 20th.

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.

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