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

Friedenthal Financial bought a new position in shares of Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 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 PPC. CWA Asset Management Group LLC grew its holdings in Pilgrim's Pride by 27.2% in the 1st quarter. CWA Asset Management Group LLC now owns 13,678 shares of the company's stock valued at $746,000 after buying an additional 2,929 shares in the last quarter. Bfsg LLC increased its holdings in Pilgrim's Pride by 23.3% in the 1st quarter. Bfsg LLC now owns 18,773 shares of the company's stock valued at $1,023,000 after buying an additional 3,547 shares during the period. Precision Wealth Strategies LLC raised its position in shares of Pilgrim's Pride by 20.4% in the 1st quarter. Precision Wealth Strategies LLC now owns 11,810 shares of the company's stock valued at $644,000 after buying an additional 2,003 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Pilgrim's Pride during the 1st quarter worth approximately $3,348,000. Finally, RHS Financial LLC lifted its holdings in shares of Pilgrim's Pride by 9.4% during the 1st quarter. RHS Financial LLC now owns 10,127 shares of the company's stock worth $552,000 after acquiring an additional 867 shares during the period. 16.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Pilgrim's Pride from a "buy" rating to a "strong-buy" rating in a research report on Saturday. BMO Capital Markets increased their price target on shares of 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. Finally, Santander assumed coverage on shares of Pilgrim's Pride in a research report on Wednesday, March 5th. They set a "neutral" rating on the stock. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Pilgrim's Pride currently has an average rating of "Hold" and a consensus price target of $48.40.

Pilgrim's Pride Stock Down 1.0%

Shares of NASDAQ:PPC traded down $0.46 during midday trading on Friday, hitting $45.44. 1,824,879 shares of the company's stock were exchanged, compared to its average volume of 1,226,941. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.35 and a quick ratio of 0.88. The stock has a 50 day moving average price of $49.08 and a 200-day moving average price of $49.47. The company has a market cap of $10.77 billion, a PE ratio of 8.96 and a beta of 0.48. Pilgrim's Pride Corporation has a 12 month low of $36.52 and a 12 month high of $57.16.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $4.46 billion for the quarter, compared to analysts' expectations of $4.53 billion. During the same period in the previous year, the company earned $0.77 earnings per share. The firm's revenue for the quarter was up 2.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Pilgrim's Pride Corporation will post 5.13 EPS for the current fiscal 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.