Dynamic Technology Lab Private Ltd Sells 8,617 Shares of Pilgrim's Pride Corporation $PPC

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 lowered its position in shares of Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) by 59.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PPC. Brooklyn Investment Group grew its position in Pilgrim's Pride by 309.4% during the 1st quarter. Brooklyn Investment Group now owns 651 shares of the company's stock worth $35,000 after acquiring an additional 492 shares during the last quarter. Quarry LP bought a new stake in shares of Pilgrim's Pride in the 1st quarter valued at about $43,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Pilgrim's Pride in the 4th quarter valued at about $55,000. Raleigh Capital Management Inc. bought a new stake in shares of Pilgrim's Pride in the 1st quarter valued at about $74,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Pilgrim's Pride by 46.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,386 shares of the company's stock valued at $76,000 after buying an additional 441 shares during the last quarter. Institutional investors own 16.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PPC shares. The Goldman Sachs Group started 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. Wall Street Zen lowered Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $47.50.

Pilgrim's Pride Stock Performance

PPC stock opened at $43.63 on Friday. The firm has a market cap of $10.36 billion, a PE ratio of 8.41 and a beta of 0.50. 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 business has a 50 day moving average of $46.30 and a 200-day moving average of $48.60. Pilgrim's Pride Corporation has a 12-month low of $40.09 and a 12-month 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 the consensus estimate of $1.54 by $0.16. Pilgrim's Pride had a return on equity of 37.15% and a net margin of 6.81%.The business had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.62 billion. During the same period in the prior year, the company earned $1.67 earnings per share. Pilgrim's Pride's revenue was up 4.3% compared to the same quarter last year. As a group, sell-side analysts expect that Pilgrim's Pride Corporation will post 5.13 earnings per share for the current year.

Pilgrim's Pride Dividend Announcement

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

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