43,798 Shares in Pilgrim's Pride Corporation $PPC Bought by Graham Capital Management L.P.

Key Points

• Graham Capital Management L.P. has acquired a new stake of 43,798 shares in Pilgrim's Pride Corporation, totaling approximately $2.39 million.
• Pilgrim's Pride recently announced a special dividend of $2.10 per share, set to be paid on September 3rd to shareholders of record.
• The company reported better-than-expected quarterly earnings with $1.70 per share, exceeding analysts' estimates by $0.16, while also experiencing a 4.3% year-over-year revenue increase.

Graham Capital Management L.P. bought a new stake in shares of Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 43,798 shares of the company's stock, valued at approximately $2,387,000.

Several other large investors have also recently made changes to their positions in PPC. Principal Financial Group Inc. raised its holdings in Pilgrim's Pride by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 93,044 shares of the company's stock worth $5,072,000 after acquiring an additional 290 shares during the last quarter. Comerica Bank raised its holdings in Pilgrim's Pride by 2.9% in the 1st quarter. Comerica Bank now owns 12,359 shares of the company's stock worth $674,000 after acquiring an additional 345 shares during the last quarter. Fifth Third Bancorp raised its holdings in Pilgrim's Pride by 10.6% in the 1st quarter. Fifth Third Bancorp now owns 3,747 shares of the company's stock worth $204,000 after acquiring an additional 358 shares during the last quarter. 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 acquiring an additional 381 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in 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 worth $76,000 after acquiring an additional 441 shares during the last quarter. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

Pilgrim's Pride Stock Performance

PPC traded down $0.03 during mid-day trading on Friday, reaching $44.29. 1,446,485 shares of the company traded hands, compared to its average volume of 1,283,452. The stock has a market capitalization of $10.52 billion, a P/E ratio of 8.53 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 company's fifty day moving average price is $46.47 and its 200-day moving average price is $48.92. Pilgrim's Pride Corporation has a 52-week low of $40.09 and a 52-week high of $57.16.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last announced its earnings results 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. Pilgrim's Pride had a net margin of 6.81% and a return on equity of 37.15%. 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 previous year, the business earned $1.67 EPS. The company's quarterly revenue was up 4.3% compared to the same quarter last year. On average, sell-side analysts expect that Pilgrim's Pride Corporation will post 5.13 EPS for the current year.

Pilgrim's Pride Dividend Announcement

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

Wall Street Analyst Weigh In

PPC has been the subject of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on shares of Pilgrim's Pride in a report on Monday, June 23rd. They issued a "neutral" rating and a $50.00 price objective for the company. Wall Street Zen upgraded shares of Pilgrim's Pride from a "buy" rating to a "strong-buy" rating in a report on Friday. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $47.50.

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.