Neo Ivy Capital Management grew its position in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 175.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,387 shares of the company's stock after buying an additional 36,545 shares during the period. Neo Ivy Capital Management's holdings in Pilgrim's Pride were worth $2,604,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Pilgrim's Pride by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 5,113,888 shares of the company's stock worth $232,119,000 after buying an additional 33,965 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Pilgrim's Pride by 44.1% in the 4th quarter. AQR Capital Management LLC now owns 1,883,708 shares of the company's stock worth $85,502,000 after purchasing an additional 576,438 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Pilgrim's Pride by 26.8% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,845,480 shares of the company's stock worth $83,766,000 after purchasing an additional 389,967 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Pilgrim's Pride by 15.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,377,236 shares of the company's stock worth $62,513,000 after purchasing an additional 180,164 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Pilgrim's Pride by 11.9% in the 4th quarter. Invesco Ltd. now owns 1,125,329 shares of the company's stock worth $51,079,000 after purchasing an additional 119,555 shares during the last quarter. Institutional investors own 16.64% of the company's stock.
Wall Street Analyst Weigh In
Several analysts recently issued reports on PPC shares. Wall Street Zen downgraded Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Wednesday. 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 report on Monday, March 17th. Finally, Santander started coverage on Pilgrim's Pride in a report on Wednesday, March 5th. They issued a "neutral" rating on the stock. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Pilgrim's Pride currently has a consensus rating of "Hold" and an average price target of $48.40.
Read Our Latest Analysis on Pilgrim's Pride
Pilgrim's Pride Stock Down 3.4%
PPC opened at $49.19 on Friday. Pilgrim's Pride Co. has a 12 month low of $33.70 and a 12 month high of $57.16. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.01 and a quick ratio of 1.31. The stock has a market cap of $11.66 billion, a P/E ratio of 10.79 and a beta of 0.51. The stock's 50 day moving average price is $50.87 and its 200 day moving average price is $50.16.
Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.26 by $0.05. Pilgrim's Pride had a return on equity of 32.83% and a net margin of 6.08%. The firm had revenue of $4.46 billion for the quarter, compared to analysts' expectations of $4.53 billion. During the same period last year, the firm earned $0.77 EPS. The firm's revenue was up 2.3% compared to the same quarter last year. As a group, research analysts predict that Pilgrim's Pride Co. will post 5.13 earnings per share for the current year.
Pilgrim's Pride Increases Dividend
The company also recently declared a special dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd were given a dividend of $6.30 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This is a boost from Pilgrim's Pride's previous special dividend of $2.75.
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.
See Also
Want to see what other hedge funds are holding PPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pilgrim's Pride Co. (NASDAQ:PPC - Free Report).
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