Nomura Holdings Inc. bought a new stake in Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,349 shares of the company's stock, valued at approximately $243,000.
A number of other large investors also recently bought and sold shares of the stock. Xponance Inc. lifted its position in Pilgrim's Pride by 3.7% in the fourth quarter. Xponance Inc. now owns 6,307 shares of the company's stock valued at $286,000 after buying an additional 225 shares during the last quarter. CIBC Asset Management Inc increased its stake in Pilgrim's Pride by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 7,207 shares of the company's stock worth $327,000 after purchasing an additional 371 shares during the period. Amalgamated Bank increased its stake in Pilgrim's Pride by 3.2% during the fourth quarter. Amalgamated Bank now owns 19,033 shares of the company's stock worth $864,000 after purchasing an additional 585 shares during the period. Smartleaf Asset Management LLC increased its stake in Pilgrim's Pride by 19.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,642 shares of the company's stock worth $165,000 after purchasing an additional 593 shares during the period. Finally, US Bancorp DE increased its stake in Pilgrim's Pride by 23.3% during the fourth quarter. US Bancorp DE now owns 3,445 shares of the company's stock worth $156,000 after purchasing an additional 650 shares during the period. Institutional investors and hedge funds own 16.64% of the company's stock.
Analysts Set New Price Targets
A number of analysts have issued reports on PPC shares. Santander started coverage on shares of Pilgrim's Pride in a research note on Wednesday, March 5th. They set a "neutral" rating on the stock. Wall Street Zen lowered shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, May 21st. Finally, BMO Capital Markets boosted their price target on shares of Pilgrim's Pride from $47.00 to $48.00 and gave the stock a "market perform" rating in a research note on Monday, March 17th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $48.40.
Read Our Latest Stock Analysis on Pilgrim's Pride
Pilgrim's Pride Stock Up 0.8%
NASDAQ:PPC traded up $0.41 during mid-day trading on Monday, hitting $49.60. The stock had a trading volume of 794,438 shares, compared to its average volume of 1,192,158. The stock has a 50-day simple moving average of $50.87 and a two-hundred day simple moving average of $50.09. The company has a market capitalization of $11.76 billion, a PE ratio of 10.88 and a beta of 0.51. Pilgrim's Pride Co. has a twelve month low of $33.70 and a twelve month high of $57.16. The company has a current ratio of 2.01, a quick ratio of 1.31 and a debt-to-equity ratio of 0.75.
Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.05. The firm had revenue of $4.46 billion for the quarter, compared to analysts' expectations of $4.53 billion. Pilgrim's Pride had a net margin of 6.08% and a return on equity of 32.83%. The firm's revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.77 earnings per share. On average, equities research analysts anticipate that Pilgrim's Pride Co. will post 5.13 EPS for the current year.
Pilgrim's Pride Increases Dividend
The company also recently announced a special dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 3rd were issued a $6.30 dividend. This is a boost from Pilgrim's Pride's previous special dividend of $2.75. The ex-dividend date of this dividend was Thursday, April 3rd.
Pilgrim's Pride Profile
(
Free Report)
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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