Friedenthal Financial Makes New $929,000 Investment in Pilgrim's Pride Corporation (NASDAQ:PPC)

Friedenthal Financial acquired a new position in shares of Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 17,040 shares of the company's stock, valued at approximately $929,000.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Pilgrim's Pride by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 5,113,888 shares of the company's stock valued at $232,119,000 after acquiring an additional 33,965 shares during the last quarter. AQR Capital Management LLC grew its stake in Pilgrim's Pride by 44.1% during the 4th quarter. AQR Capital Management LLC now owns 1,883,708 shares of the company's stock worth $85,502,000 after buying an additional 576,438 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Pilgrim's Pride by 26.8% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,845,480 shares of the company's stock worth $83,766,000 after buying an additional 389,967 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Pilgrim's Pride by 15.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,377,236 shares of the company's stock worth $62,513,000 after buying an additional 180,164 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Pilgrim's Pride by 11.9% during the 4th quarter. Invesco Ltd. now owns 1,125,329 shares of the company's stock worth $51,079,000 after acquiring an additional 119,555 shares during the period. 16.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on PPC. Wall Street Zen lowered Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 29th. Santander started coverage on Pilgrim's Pride in a research report on Wednesday, March 5th. They set a "neutral" rating on the stock. Finally, BMO Capital Markets upped their target price on Pilgrim's Pride from $47.00 to $48.00 and gave the stock a "market perform" rating in a research report on Monday, March 17th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $48.40.

Pilgrim's Pride Stock Performance

Shares of NASDAQ PPC opened at $45.90 on Thursday. Pilgrim's Pride Corporation has a one year low of $35.57 and a one year high of $57.16. The company has a current ratio of 1.35, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. The business has a fifty day simple moving average of $49.34 and a 200 day simple moving average of $49.56. The firm has a market capitalization of $10.88 billion, a price-to-earnings ratio of 9.05 and a beta of 0.48.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.26 by $0.05. Pilgrim's Pride had a net margin of 6.72% and a return on equity of 36.95%. The company had revenue of $4.46 billion during the quarter, compared to analysts' expectations of $4.53 billion. During the same quarter in the prior year, the company posted $0.77 EPS. The business's revenue was up 2.3% on a year-over-year basis. Sell-side analysts expect that Pilgrim's Pride Corporation will post 5.13 EPS for the current year.

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.

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