Pilgrim's Pride Corporation $PPC Shares Sold by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd reduced its position in Pilgrim's Pride Corporation by 59.1%, selling 8,617 shares during the first quarter, leaving them with 5,958 shares valued at $325,000 as of the most recent report.
• a number of institutional investors, including Brooklyn Investment Group and PNC Financial Services Group, have acquired or expanded their stakes in Pilgrim's Pride, contributing to a total institutional ownership of 16.64%.
• Analysts have a consensus rating of "Hold" on Pilgrim's Pride stock, with a target price of $47.50, and the company recently reported earnings of $1.70 per share, exceeding expectations.

Dynamic Technology Lab Private Ltd reduced its position in Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) by 59.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,958 shares of the company's stock after selling 8,617 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Pilgrim's Pride were worth $325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its holdings in Pilgrim's Pride by 5.2% in the fourth quarter. Ameriprise Financial Inc. now owns 175,348 shares of the company's stock valued at $7,959,000 after buying an additional 8,731 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in shares of Pilgrim's Pride during the 4th quarter valued at about $5,143,000. Lazard Asset Management LLC increased its stake in shares of Pilgrim's Pride by 193.5% in the 4th quarter. Lazard Asset Management LLC now owns 7,306 shares of the company's stock valued at $331,000 after purchasing an additional 4,817 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Pilgrim's Pride in the 4th quarter valued at about $55,000. Finally, OMERS ADMINISTRATION Corp raised its holdings in Pilgrim's Pride by 110.4% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 14,100 shares of the company's stock worth $640,000 after purchasing an additional 7,400 shares during the period. Institutional investors and hedge funds own 16.64% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on PPC. Wall Street Zen lowered Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 13th. The Goldman Sachs Group started coverage on shares of Pilgrim's Pride in a research note on Monday, June 23rd. They issued a "neutral" rating and a $50.00 price target on the stock. Five research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Pilgrim's Pride has a consensus rating of "Hold" and an average target price of $47.50.

Pilgrim's Pride Price Performance

Shares of NASDAQ PPC traded down $0.93 during midday trading on Thursday, hitting $41.39. The stock had a trading volume of 2,047,184 shares, compared to its average volume of 1,359,347. The company has a quick ratio of 0.88, a current ratio of 1.63 and a debt-to-equity ratio of 0.83. The stock has a 50 day simple moving average of $46.06 and a 200-day simple moving average of $48.27. The company has a market capitalization of $9.83 billion, a PE ratio of 7.97 and a beta of 0.50. Pilgrim's Pride Corporation has a 1 year low of $40.92 and a 1 year high of $57.16.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.70 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.16. The company had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.62 billion. Pilgrim's Pride had a return on equity of 37.15% and a net margin of 6.81%.The firm's revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.67 EPS. On average, sell-side analysts expect that Pilgrim's Pride Corporation will post 5.13 EPS for the current fiscal year.

Pilgrim's Pride Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were given a dividend of $2.10 per share. The ex-dividend date was Wednesday, August 20th.

Pilgrim's Pride 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.