Pilgrim's Pride Corporation (NASDAQ:PPC) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its position in Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) by 18.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 56,066 shares of the company's stock after purchasing an additional 8,638 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Pilgrim's Pride were worth $3,154,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PPC. Accredited Wealth Management LLC bought a new position in Pilgrim's Pride in the fourth quarter valued at $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Pilgrim's Pride in the fourth quarter valued at $55,000. Central Pacific Bank Trust Division bought a new position in Pilgrim's Pride in the first quarter valued at $133,000. GAMMA Investing LLC increased its stake in Pilgrim's Pride by 18.6% in the first quarter. GAMMA Investing LLC now owns 3,189 shares of the company's stock valued at $174,000 after acquiring an additional 501 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Pilgrim's Pride by 28.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,311 shares of the company's stock valued at $177,000 after acquiring an additional 742 shares during the last quarter. Institutional investors own 16.64% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wall Street Zen raised Pilgrim's Pride from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st. BMO Capital Markets increased their price target on shares of Pilgrim's Pride from $47.00 to $48.00 and gave the stock a "market perform" rating in a research note on Monday, March 17th. Finally, The Goldman Sachs Group initiated coverage on Pilgrim's Pride in a research report on Monday, June 23rd. They issued a "neutral" rating and a $50.00 price target on the stock. Six investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $48.67.

Pilgrim's Pride Stock Down 1.4%

NASDAQ PPC traded down $0.66 on Monday, hitting $45.23. The stock had a trading volume of 1,551,578 shares, compared to its average volume of 1,254,740. The business's fifty day moving average price is $47.42 and its 200 day moving average price is $49.18. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.35 and a quick ratio of 0.88. Pilgrim's Pride Corporation has a 52-week low of $37.28 and a 52-week high of $57.16. The stock has a market cap of $10.72 billion, a price-to-earnings ratio of 8.92 and a beta of 0.45.

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 during the quarter, compared to the consensus estimate of $4.53 billion. Pilgrim's Pride had a net margin of 6.72% and a return on equity of 36.95%. The firm's quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.77 earnings per share. Equities research analysts anticipate that Pilgrim's Pride Corporation will post 5.13 earnings per share for the current year.

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.