Beacon Harbor Wealth Advisors Inc. Buys Shares of 114,537 Pilgrim's Pride Corporation (NASDAQ:PPC)

Key Points

• Beacon Harbor Wealth Advisors Inc. has acquired 114,537 shares of Pilgrim's Pride Corporation (NASDAQ:PPC) valued at approximately $6.24 million in the first quarter.
• Pilgrim's Pride reported a quarterly earnings per share (EPS) of $1.70, surpassing the consensus estimate of $1.54 by $0.16, along with a revenue of $4.76 billion.
• Analysts currently have an average rating of "Hold" on Pilgrim's Pride stock, with a target price of approximately $48.67.

Beacon Harbor Wealth Advisors Inc. purchased a new position in shares of Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 114,537 shares of the company's stock, valued at approximately $6,243,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of PPC. Accredited Wealth Management LLC purchased a new position in Pilgrim's Pride in the fourth quarter valued at approximately $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Pilgrim's Pride during the fourth quarter worth approximately $55,000. Raleigh Capital Management Inc. purchased a new position in shares of Pilgrim's Pride during the first quarter worth approximately $74,000. PNC Financial Services Group Inc. grew its position in shares of Pilgrim's Pride by 46.7% during the first quarter. PNC Financial Services Group Inc. now owns 1,386 shares of the company's stock worth $76,000 after acquiring an additional 441 shares during the last quarter. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Pilgrim's Pride during the first quarter worth approximately $133,000. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

Pilgrim's Pride Stock Performance

Shares of Pilgrim's Pride stock traded up $0.05 on Friday, reaching $49.96. 761,803 shares of the stock were exchanged, compared to its average volume of 1,259,433. Pilgrim's Pride Corporation has a 1-year low of $40.09 and a 1-year high of $57.16. The company has a current ratio of 1.63, a quick ratio of 0.88 and a debt-to-equity ratio of 0.83. The business has a fifty day moving average price of $46.46 and a two-hundred day moving average price of $49.30. The firm has a market capitalization of $11.87 billion, a PE ratio of 9.63 and a beta of 0.50.

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PPC shares. Wall Street Zen cut Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. The Goldman Sachs Group assumed coverage on shares of Pilgrim's Pride in a research report on Monday, June 23rd. They issued a "neutral" rating and a $50.00 price objective on the stock. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Pilgrim's Pride currently has an average rating of "Hold" and a consensus price target of $48.67.

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.