Rhumbline Advisers Has $5.80 Million Stock Holdings in Pilgrim's Pride Co. (NASDAQ:PPC)

Rhumbline Advisers cut its holdings in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 9.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,333 shares of the company's stock after selling 11,082 shares during the period. Rhumbline Advisers' holdings in Pilgrim's Pride were worth $5,796,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in PPC. Accredited Wealth Management LLC purchased a new stake in shares of Pilgrim's Pride during the 4th quarter worth $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Pilgrim's Pride during the 4th quarter worth about $55,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Pilgrim's Pride during the 4th quarter worth about $118,000. Central Pacific Bank Trust Division acquired a new position in shares of Pilgrim's Pride during the 1st quarter worth about $133,000. Finally, US Bancorp DE increased its stake in Pilgrim's Pride by 23.3% in the fourth quarter. US Bancorp DE now owns 3,445 shares of the company's stock valued at $156,000 after purchasing an additional 650 shares during the last quarter. Institutional investors and hedge funds own 16.64% of the company's stock.

Pilgrim's Pride Stock Up 0.9%

Shares of Pilgrim's Pride stock traded up $0.39 on Friday, hitting $46.14. 941,371 shares of the company traded hands, compared to its average volume of 1,210,189. The company has a market cap of $10.94 billion, a PE ratio of 10.12 and a beta of 0.48. The company has a quick ratio of 1.31, a current ratio of 2.01 and a debt-to-equity ratio of 0.75. Pilgrim's Pride Co. has a 12-month low of $34.37 and a 12-month high of $57.16. The company has a 50-day moving average price of $49.64 and a 200 day moving average price of $49.70.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.05. The business had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.53 billion. Pilgrim's Pride had a net margin of 6.08% and a return on equity of 32.83%. Pilgrim's Pride's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 EPS. Sell-side analysts predict that Pilgrim's Pride Co. will post 5.13 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. BMO Capital Markets raised their price target on 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. Wall Street Zen downgraded shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 29th. Finally, Santander assumed coverage on Pilgrim's Pride in a research report on Wednesday, March 5th. They set a "neutral" rating for the company. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $48.40.

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.