Inspire Advisors LLC Grows Stock Holdings in Pilgrim's Pride Corporation (NASDAQ:PPC)

Key Points

• Inspire Advisors LLC significantly increased its stake in Pilgrim's Pride by 194.8% in Q1, acquiring an additional 10,654 shares, bringing its total holdings to 16,122 shares valued at approximately $879,000.
• In the most recent quarter, Pilgrim's Pride reported $1.31 earnings per share, surpassing the consensus estimate, while its revenue for the quarter was $4.46 billion, reflecting a 2.3% year-over-year increase.
• Analysts have a mixed outlook on Pilgrim's Pride, with the consensus rating classified as "Hold" and a price target averaging $48.67, as several analysts have downgraded their ratings in recent months.

Inspire Advisors LLC lifted its position in Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) by 194.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,122 shares of the company's stock after purchasing an additional 10,654 shares during the quarter. Inspire Advisors LLC's holdings in Pilgrim's Pride were worth $879,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Accredited Wealth Management LLC purchased a new stake in shares of Pilgrim's Pride during the fourth quarter worth about $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Pilgrim's Pride in the fourth quarter worth about $55,000. Raleigh Capital Management Inc. bought a new position in shares of Pilgrim's Pride during the first quarter valued at approximately $74,000. Central Pacific Bank Trust Division bought a new position in shares of Pilgrim's Pride during the first quarter valued at approximately $133,000. Finally, KBC Group NV bought a new position in shares of Pilgrim's Pride during the first quarter valued at approximately $144,000. Institutional investors own 16.64% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PPC. The Goldman Sachs Group began coverage on shares of Pilgrim's Pride in a research report on Monday, June 23rd. They set a "neutral" rating and a $50.00 price target for the company. Wall Street Zen cut shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $48.67.

Pilgrim's Pride Price Performance

NASDAQ PPC traded down $0.23 on Thursday, reaching $47.48. The company had a trading volume of 837,272 shares, compared to its average volume of 1,305,349. The company has a quick ratio of 0.88, a current ratio of 1.35 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $11.26 billion, a PE ratio of 9.36 and a beta of 0.45. The firm's 50 day moving average price is $46.48 and its 200 day moving average price is $49.12. Pilgrim's Pride Corporation has a 12 month low of $40.00 and a 12 month high of $57.16.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.70 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.16. Pilgrim's Pride had a net margin of 6.72% and a return on equity of 36.95%. The firm had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.62 billion. During the same period in the previous year, the firm posted $1.67 EPS. The business's quarterly revenue was up 4.3% on a year-over-year basis. As a group, equities analysts predict that Pilgrim's Pride Corporation will post 5.13 earnings per share for the current year.

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.