Pilgrim's Pride Corporation (NASDAQ:PPC) Stake Reduced by Advisors Preferred LLC

Advisors Preferred LLC trimmed its holdings in Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) by 44.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 101,384 shares of the company's stock after selling 80,720 shares during the period. Advisors Preferred LLC's holdings in Pilgrim's Pride were worth $5,704,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. New Age Alpha Advisors LLC purchased a new position in Pilgrim's Pride in the 4th quarter valued at about $249,000. Arrowstreet Capital Limited Partnership lifted its holdings in Pilgrim's Pride by 15.1% in 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. Allspring Global Investments Holdings LLC lifted its holdings in Pilgrim's Pride by 18.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 56,066 shares of the company's stock valued at $3,154,000 after purchasing an additional 8,638 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new position in Pilgrim's Pride in the 4th quarter valued at about $551,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Pilgrim's Pride by 18.6% during the 1st quarter. GAMMA Investing LLC now owns 3,189 shares of the company's stock worth $174,000 after acquiring an additional 501 shares during the period. 16.64% of the stock is owned by institutional investors and hedge funds.

Pilgrim's Pride Stock Performance

Pilgrim's Pride stock traded up $0.56 during mid-day trading on Friday, reaching $47.85. The company's stock had a trading volume of 729,374 shares, compared to its average volume of 1,193,348. The firm has a market cap of $11.35 billion, a price-to-earnings ratio of 9.44 and a beta of 0.45. The business has a 50 day moving average price of $46.65 and a 200-day moving average price of $49.09. The company has a current ratio of 1.35, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. Pilgrim's Pride Corporation has a twelve month low of $40.00 and a twelve month high of $57.16.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.26 by $0.05. The company had revenue of $4.46 billion for the quarter, compared to analysts' expectations of $4.53 billion. Pilgrim's Pride had a return on equity of 36.95% and a net margin of 6.72%. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business posted $0.77 earnings per share. Sell-side analysts predict that Pilgrim's Pride Corporation will post 5.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PPC. The Goldman Sachs Group began coverage on shares of Pilgrim's Pride in a report on Monday, June 23rd. They set a "neutral" rating and a $50.00 price objective on the stock. Wall Street Zen lowered shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $48.67.

About Pilgrim's Pride

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.