Journey Advisory Group LLC Buys 86,387 Shares of Pilgrim's Pride Corporation $PPC

Key Points

• Journey Advisory Group LLC increased its Pilgrim's Pride stake by 832.5% in the first quarter, adding 86,387 shares to bring its total holdings to 96,764 shares worth about $3.65 million.
• Several analysts have recently trimmed their outlooks on PPC, with the current consensus rating at Hold and an average price target of $36.83.
• Pilgrim's Pride reported Q1 EPS of $0.51, missing estimates, while revenue came in at $4.53 billion and the stock was trading near $28.42, well below its 52-week high.

Journey Advisory Group LLC boosted its stake in Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) by 832.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,764 shares of the company's stock after purchasing an additional 86,387 shares during the quarter. Journey Advisory Group LLC's holdings in Pilgrim's Pride were worth $3,654,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Torren Management LLC acquired a new stake in Pilgrim's Pride during the fourth quarter worth about $31,000. MCF Advisors LLC bought a new stake in shares of Pilgrim's Pride during the 4th quarter worth approximately $35,000. Kingdom Financial Group LLC. bought a new stake in shares of Pilgrim's Pride during the 4th quarter worth approximately $37,000. Quarry LP lifted its holdings in shares of Pilgrim's Pride by 30.5% during the 4th quarter. Quarry LP now owns 1,248 shares of the company's stock worth $49,000 after acquiring an additional 292 shares during the period. Finally, Signaturefd LLC boosted its position in shares of Pilgrim's Pride by 23.5% during the 4th quarter. Signaturefd LLC now owns 1,350 shares of the company's stock worth $53,000 after acquiring an additional 257 shares in the last quarter. Institutional investors own 16.64% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group decreased their price objective on shares of Pilgrim's Pride from $44.00 to $39.00 and set a "neutral" rating on the stock in a research note on Thursday, April 9th. BMO Capital Markets cut their target price on Pilgrim's Pride from $42.00 to $40.00 and set a "market perform" rating for the company in a research note on Wednesday, March 25th. Barclays raised Pilgrim's Pride from an "equal weight" rating to an "overweight" rating and reduced their target price for the company from $45.00 to $42.00 in a report on Friday, May 1st. UBS Group initiated coverage on Pilgrim's Pride in a report on Tuesday, May 19th. They set a "neutral" rating and a $30.00 price target for the company. Finally, Weiss Ratings downgraded Pilgrim's Pride from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, June 26th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $36.83.

Pilgrim's Pride Trading Up 0.7%

Shares of Pilgrim's Pride stock opened at $28.42 on Thursday. The firm's 50 day moving average is $28.48 and its 200 day moving average is $35.15. The firm has a market capitalization of $6.76 billion, a PE ratio of 7.62 and a beta of 0.29. Pilgrim's Pride Corporation has a 1 year low of $26.50 and a 1 year high of $50.56. The company has a current ratio of 1.48, a quick ratio of 0.73 and a debt-to-equity ratio of 0.83.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.18). Pilgrim's Pride had a net margin of 4.78% and a return on equity of 28.57%. The company had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same period in the previous year, the company earned $1.31 EPS. Pilgrim's Pride's revenue for the quarter was up 1.6% on a year-over-year basis. Equities research analysts forecast that Pilgrim's Pride Corporation will post 3.01 earnings per share for the current fiscal year.

Pilgrim's Pride Company Profile

Pilgrim's Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim's Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.

The company's vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.

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