Investment Management Corp VA ADV Makes New $483,000 Investment in Pilgrim's Pride Corporation (NASDAQ:PPC)

Key Points

• Investment Management Corp VA ADV made a new investment of approximately $483,000 in Pilgrim's Pride Corporation, acquiring 8,865 shares during the first quarter.
• Several institutional investors have also increased their holdings in Pilgrim's Pride, with Fifth Third Bancorp boosting its stake by 10.6% during the same period.
• Analysts have a mixed view on Pilgrim's Pride, with its rating downgraded from "strong-buy" to "buy" and an average price target set at $48.67.

Investment Management Corp VA ADV acquired a new position in Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,865 shares of the company's stock, valued at approximately $483,000.

Several other large investors have also made changes to their positions in the company. Xponance Inc. lifted its stake in shares of Pilgrim's Pride by 3.7% during the fourth quarter. Xponance Inc. now owns 6,307 shares of the company's stock valued at $286,000 after acquiring an additional 225 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Pilgrim's Pride by 0.3% during the first quarter. Principal Financial Group Inc. now owns 93,044 shares of the company's stock valued at $5,072,000 after acquiring an additional 290 shares during the period. Fifth Third Bancorp lifted its stake in shares of Pilgrim's Pride by 10.6% during the first quarter. Fifth Third Bancorp now owns 3,747 shares of the company's stock valued at $204,000 after acquiring an additional 358 shares during the period. Jackson Creek Investment Advisors LLC lifted its stake in shares of Pilgrim's Pride by 1.9% during the first quarter. Jackson Creek Investment Advisors LLC now owns 20,417 shares of the company's stock valued at $1,113,000 after acquiring an additional 381 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Pilgrim's Pride by 18.6% during the first quarter. GAMMA Investing LLC now owns 3,189 shares of the company's stock valued at $174,000 after acquiring an additional 501 shares during the period. Institutional investors and hedge funds own 16.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PPC shares. Wall Street Zen downgraded Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Friday, July 18th. The Goldman Sachs Group started coverage on Pilgrim's Pride in a report on Monday, June 23rd. They issued a "neutral" rating and a $50.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Pilgrim's Pride currently has an average rating of "Hold" and an average price target of $48.67.

Pilgrim's Pride Trading Up 1.2%

NASDAQ PPC opened at $47.85 on Friday. The stock has a 50-day simple moving average of $46.65 and a 200 day simple moving average of $49.09. The company has a market capitalization of $11.35 billion, a PE ratio of 9.44 and a beta of 0.45. The company has a current ratio of 1.35, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. 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 announced its quarterly earnings results on Wednesday, April 30th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.05. Pilgrim's Pride had a return on equity of 36.95% and a net margin of 6.72%. The company had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same period in the prior year, the company earned $0.77 earnings per share. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. Research analysts forecast that Pilgrim's Pride Corporation will post 5.13 EPS 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.

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