Pilgrim's Pride Corporation $PPC Shares Acquired by Livforsakringsbolaget Skandia Omsesidigt

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in Pilgrim's Pride Corporation by 208.3% in the second quarter, acquiring an additional 22,500 shares to bring its total to 33,300 shares valued at approximately $1.5 million.
• Pilgrim's Pride recently reported a better-than-expected EPS of $1.70 for the last quarter, exceeding analysts' estimates by $0.16, alongside year-over-year revenue growth of 4.3%.
• The stock's current analyst rating is an average of "Hold" with a consensus target price of $47.50, reflecting varied opinions on its performance amidst recent trading fluctuations.

Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) by 208.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,300 shares of the company's stock after purchasing an additional 22,500 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Pilgrim's Pride were worth $1,498,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in Pilgrim's Pride by 18.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 56,066 shares of the company's stock valued at $3,154,000 after acquiring an additional 8,638 shares during the period. 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. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Pilgrim's Pride during the first quarter valued at $355,000. Range Financial Group LLC lifted its stake in Pilgrim's Pride by 26.5% in the second quarter. Range Financial Group LLC now owns 29,027 shares of the company's stock valued at $1,306,000 after buying an additional 6,073 shares during the period. Finally, LPL Financial LLC lifted its stake in Pilgrim's Pride by 135.2% in the first quarter. LPL Financial LLC now owns 98,394 shares of the company's stock valued at $5,363,000 after buying an additional 56,568 shares during the period. 16.64% of the stock is currently owned by institutional investors.

Pilgrim's Pride Stock Down 1.3%

Pilgrim's Pride stock traded down $0.54 during mid-day trading on Tuesday, reaching $40.65. 386,063 shares of the company's stock were exchanged, compared to its average volume of 1,336,417. The company has a market cap of $9.66 billion, a P/E ratio of 7.82 and a beta of 0.50. Pilgrim's Pride Corporation has a twelve month low of $40.49 and a twelve month high of $57.16. 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 has a fifty day moving average of $45.90 and a 200-day moving average of $48.02.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.54 by $0.16. The firm had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.62 billion. Pilgrim's Pride had a net margin of 6.81% and a return on equity of 37.15%. Pilgrim's Pride's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the business earned $1.67 EPS. 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 declared a special dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th were issued a $2.10 dividend. The ex-dividend date was Wednesday, August 20th.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group assumed coverage on Pilgrim's Pride in a research report on Monday, June 23rd. They set a "neutral" rating and a $50.00 price target on the stock. Wall Street Zen downgraded Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 13th. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $47.50.

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.