7,220 Shares in Pilgrim's Pride Corporation $PPC Bought by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. has purchased a new stake in Pilgrim's Pride Corporation, acquiring 7,220 shares valued at approximately $394,000 in the first quarter.
• The company reported $1.70 earnings per share (EPS) for the last quarter, surpassing analysts' expectations of $1.54, with quarterly revenue reaching $4.76 billion.
• Pilgrim's Pride declared a $2.10 dividend, scheduled to be paid on September 3rd, with an ex-dividend date of August 20th.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,220 shares of the company's stock, valued at approximately $394,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Accredited Wealth Management LLC purchased a new stake in Pilgrim's Pride during the fourth quarter valued at approximately $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Pilgrim's Pride during the fourth quarter valued at approximately $55,000. Raleigh Capital Management Inc. purchased a new stake in Pilgrim's Pride during the first quarter valued at approximately $74,000. PNC Financial Services Group Inc. raised its position in 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 valued at $76,000 after purchasing an additional 441 shares during the period. Finally, Central Pacific Bank Trust Division purchased a new stake in Pilgrim's Pride during the first quarter valued at approximately $133,000. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PPC shares. The Goldman Sachs Group started coverage on Pilgrim's Pride in a report on Monday, June 23rd. They issued a "neutral" rating and a $50.00 price target on the stock. Wall Street Zen downgraded Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Pilgrim's Pride presently has a consensus rating of "Hold" and a consensus price target of $49.00.

Pilgrim's Pride Trading Down 2.4%

PPC traded down $1.10 during trading on Monday, hitting $45.06. 1,443,048 shares of the stock were exchanged, compared to its average volume of 1,379,514. The firm has a 50 day simple moving average of $46.69 and a 200 day simple moving average of $49.38. The firm has a market cap of $10.70 billion, a price-to-earnings ratio of 8.68 and a beta of 0.50. Pilgrim's Pride Corporation has a 1 year low of $40.09 and a 1 year high of $57.16. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.88 and a current ratio of 1.63.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.16. The business had revenue of $4.76 billion for 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%.The business's revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.67 EPS. As a group, equities analysts expect that Pilgrim's Pride Corporation will post 5.13 EPS for the current year.

Pilgrim's Pride Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th will be given a $2.10 dividend. The ex-dividend date of this dividend is Wednesday, August 20th.

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.