Exchange Traded Concepts LLC Has $820,000 Position in Pilgrim's Pride Corporation (NASDAQ:PPC)

Exchange Traded Concepts LLC cut its holdings in Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) by 86.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,051 shares of the company's stock after selling 98,498 shares during the period. Exchange Traded Concepts LLC's holdings in Pilgrim's Pride were worth $820,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Point72 Asset Management L.P. grew its position in Pilgrim's Pride by 102.0% in the fourth quarter. Point72 Asset Management L.P. now owns 16,381 shares of the company's stock valued at $744,000 after purchasing an additional 827,381 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Pilgrim's Pride by 44.1% during the 4th quarter. AQR Capital Management LLC now owns 1,883,708 shares of the company's stock worth $85,502,000 after buying an additional 576,438 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Pilgrim's Pride by 26.8% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,845,480 shares of the company's stock worth $83,766,000 after buying an additional 389,967 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Pilgrim's Pride by 156.4% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 333,077 shares of the company's stock valued at $15,118,000 after acquiring an additional 203,192 shares in the last quarter. Finally, Ruffer LLP acquired a new stake in shares of Pilgrim's Pride in the fourth quarter valued at about $8,381,000. Institutional investors own 16.64% of the company's stock.

Pilgrim's Pride Stock Performance

Shares of PPC stock traded down $0.46 on Friday, reaching $45.44. The stock had a trading volume of 1,824,879 shares, compared to its average volume of 1,225,346. Pilgrim's Pride Corporation has a 12 month low of $36.04 and a 12 month high of $57.16. The firm has a market capitalization of $10.77 billion, a price-to-earnings ratio of 8.96 and a beta of 0.48. The firm's 50-day moving average is $49.08 and its two-hundred day moving average is $49.48. The company has a quick ratio of 0.88, a current ratio of 1.35 and a debt-to-equity ratio of 1.02.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.05. The firm had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.53 billion. Pilgrim's Pride had a return on equity of 36.95% and a net margin of 6.72%. The business's 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 earnings per share. On average, research analysts expect that Pilgrim's Pride Corporation will post 5.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PPC has been the topic of several analyst reports. Wall Street Zen upgraded Pilgrim's Pride from a "buy" rating to a "strong-buy" rating in a report on Saturday. BMO Capital Markets boosted their price target on Pilgrim's Pride from $47.00 to $48.00 and gave the stock a "market perform" rating in a research report on Monday, March 17th. Finally, Santander started coverage on Pilgrim's Pride in a research note on Wednesday, March 5th. They set a "neutral" rating on the stock. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Pilgrim's Pride currently has an average rating of "Hold" and an average price target of $48.40.

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.