Cambridge Investment Research Advisors Inc. Cuts Stock Position in Pilgrim's Pride Corporation (NASDAQ:PPC)

Cambridge Investment Research Advisors Inc. cut its stake in Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) by 48.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,116 shares of the company's stock after selling 7,517 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Pilgrim's Pride were worth $442,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Accredited Wealth Management LLC purchased a new stake in shares of Pilgrim's Pride during the fourth quarter valued at approximately $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Pilgrim's Pride during the fourth quarter valued at approximately $55,000. Central Pacific Bank Trust Division purchased a new stake in shares of Pilgrim's Pride during the first quarter valued at approximately $133,000. US Bancorp DE increased its position in shares of Pilgrim's Pride by 23.3% during the fourth quarter. US Bancorp DE now owns 3,445 shares of the company's stock valued at $156,000 after acquiring an additional 650 shares during the last quarter. Finally, GAMMA Investing LLC increased its position 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 last quarter. Institutional investors own 16.64% of the company's stock.

Wall Street Analyst Weigh In

PPC has been the topic of a number of recent research reports. The Goldman Sachs Group started 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. BMO Capital Markets upped their price target on shares of Pilgrim's Pride from $47.00 to $48.00 and gave the company a "market perform" rating in a research note on Monday, March 17th. Finally, Wall Street Zen upgraded shares of Pilgrim's Pride from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st. Six research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Pilgrim's Pride has a consensus rating of "Hold" and a consensus target price of $48.67.

Pilgrim's Pride Trading Up 0.4%

PPC traded up $0.17 during midday trading on Friday, reaching $45.06. 863,704 shares of the company's stock traded hands, compared to its average volume of 1,262,944. The firm has a fifty day moving average of $46.87 and a two-hundred day moving average of $49.11. The stock has a market capitalization of $10.68 billion, a price-to-earnings ratio of 8.89 and a beta of 0.45. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.35 and a quick ratio of 0.88. Pilgrim's Pride Corporation has a 52 week low of $37.28 and a 52 week high of $57.16.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $1.31 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 36.95% and a net margin of 6.72%. Pilgrim's Pride's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 EPS. On average, equities analysts anticipate that Pilgrim's Pride Corporation will post 5.13 earnings per share for the current fiscal year.

Pilgrim's Pride Profile

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.