Denali Advisors LLC Buys New Stake in Pilgrim's Pride Corporation (NASDAQ:PPC)

Denali Advisors LLC acquired a new stake in shares of Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 9,169 shares of the company's stock, valued at approximately $500,000.

Other large investors also recently bought and sold shares of the company. Jackson Creek Investment Advisors LLC raised its holdings in Pilgrim's Pride by 1.9% in the 1st quarter. Jackson Creek Investment Advisors LLC now owns 20,417 shares of the company's stock worth $1,113,000 after purchasing an additional 381 shares during the period. Forum Financial Management LP purchased a new position in shares of Pilgrim's Pride during the 1st quarter worth $206,000. PAX Financial Group LLC grew its position in Pilgrim's Pride by 18.9% in the first quarter. PAX Financial Group LLC now owns 15,445 shares of the company's stock worth $842,000 after acquiring an additional 2,457 shares during the period. Florida Financial Advisors LLC acquired a new position in Pilgrim's Pride in the first quarter valued at about $220,000. Finally, CWM LLC lifted its holdings in shares of Pilgrim's Pride by 64.4% in the 1st quarter. CWM LLC now owns 3,667 shares of the company's stock worth $200,000 after acquiring an additional 1,436 shares during the last quarter. 16.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on PPC shares. Wall Street Zen downgraded shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research report on Friday. The Goldman Sachs Group started coverage on Pilgrim's Pride in a research report on Monday, June 23rd. They set a "neutral" rating and a $50.00 price objective for the company. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $48.67.

Pilgrim's Pride Trading Down 0.3%

Pilgrim's Pride stock opened at $44.94 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.35 and a debt-to-equity ratio of 1.02. Pilgrim's Pride Corporation has a 12 month low of $39.31 and a 12 month high of $57.16. The company's fifty day simple moving average is $46.62 and its 200-day simple moving average is $49.09. The stock has a market cap of $10.66 billion, a P/E ratio of 8.86 and a beta of 0.45.

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

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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