Jacobs Levy Equity Management Inc. Has $81.46 Million Stock Position in Pilgrim's Pride Corporation $PPC

Key Points

• Jacobs Levy Equity Management Inc. has reduced its position in Pilgrim's Pride by 19.0%, owning now approximately 1,494,328 shares worth around $81.46 million.
• Multiple institutional investors have increased their holdings in Pilgrim's Pride, with Point72 Asset Management showing a significant growth of 102.0% in its stake last quarter.
• Analysts currently hold a consensus rating of "Hold" for Pilgrim's Pride with an average target price of $47.50, following a recent earnings beat where the company reported $1.70 EPS.

Jacobs Levy Equity Management Inc. lowered its holdings in shares of Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) by 19.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,494,328 shares of the company's stock after selling 351,152 shares during the period. Jacobs Levy Equity Management Inc. owned 0.63% of Pilgrim's Pride worth $81,456,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brooklyn Investment Group grew its holdings in Pilgrim's Pride by 309.4% during the first quarter. Brooklyn Investment Group now owns 651 shares of the company's stock worth $35,000 after purchasing an additional 492 shares during the period. Quarry LP bought a new stake in shares of Pilgrim's Pride during the first quarter worth approximately $43,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Pilgrim's Pride during the fourth quarter worth approximately $55,000. Raleigh Capital Management Inc. bought a new stake in shares of Pilgrim's Pride during the first quarter worth approximately $74,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Pilgrim's Pride by 46.7% during the first 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 period. Institutional investors own 16.64% of the company's stock.

Wall Street Analysts Forecast Growth

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

Pilgrim's Pride Price Performance

Shares of NASDAQ PPC traded down $0.89 during midday trading on Tuesday, reaching $43.66. The company's stock had a trading volume of 1,276,040 shares, compared to its average volume of 1,314,955. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.88 and a current ratio of 1.63. Pilgrim's Pride Corporation has a fifty-two week low of $40.09 and a fifty-two week high of $57.16. The business's 50 day moving average price is $46.47 and its two-hundred day moving average price is $48.82. The company has a market cap of $10.37 billion, a P/E ratio of 8.41 and a beta of 0.50.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last released its quarterly 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 company had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.62 billion. During the same period in the previous year, the business earned $1.67 earnings per share. The firm's quarterly revenue was up 4.3% on a year-over-year basis. On average, analysts forecast that Pilgrim's Pride Corporation will post 5.13 EPS for the current fiscal year.

Pilgrim's Pride Announces Dividend

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

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.