Pilgrim's Pride Corporation $PPC Position Boosted by Invst LLC

Key Points

• Invst LLC has increased its stake in Pilgrim's Pride Corporation by 82.5%, owning 20,409 shares valued at approximately $1.11 million after acquiring 9,225 additional shares in Q1.
• Wall Street analysts have upgraded Pilgrim's Pride's stock rating from "buy" to "strong-buy", indicating positive growth expectations, with a consensus target price of $47.50.
• The company recently announced a special dividend of $2.10 per share, enhancing shareholder returns alongside its quarterly earnings report, which exceeded analysts' expectations.

Invst LLC increased its holdings in Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) by 82.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,409 shares of the company's stock after buying an additional 9,225 shares during the quarter. Invst LLC's holdings in Pilgrim's Pride were worth $1,112,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group lifted its position in Pilgrim's Pride by 309.4% in the first quarter. Brooklyn Investment Group now owns 651 shares of the company's stock worth $35,000 after purchasing an additional 492 shares during the period. Quarry LP acquired a new stake in Pilgrim's Pride in the first quarter worth approximately $43,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Pilgrim's Pride in the fourth quarter worth approximately $55,000. Raleigh Capital Management Inc. acquired a new stake in Pilgrim's Pride in the first quarter worth approximately $74,000. Finally, PNC Financial Services Group Inc. lifted its position in Pilgrim's Pride by 46.7% in the first quarter. PNC Financial Services Group Inc. now owns 1,386 shares of the company's stock worth $76,000 after purchasing an additional 441 shares during the period. 16.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded Pilgrim's Pride from a "buy" rating to a "strong-buy" rating in a research report on Friday, September 5th. The Goldman Sachs Group assumed coverage on Pilgrim's Pride in a research report on Monday, June 23rd. They issued a "neutral" rating and a $50.00 target price for the company. Five research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Pilgrim's Pride currently has a consensus rating of "Hold" and an average price target of $47.50.

Pilgrim's Pride Price Performance

Shares of NASDAQ:PPC opened at $44.06 on Friday. Pilgrim's Pride Corporation has a one year low of $40.09 and a one year high of $57.16. The stock has a fifty day moving average of $46.35 and a 200-day moving average of $48.67. The company has a market capitalization of $10.47 billion, a PE ratio of 8.49 and a beta of 0.50. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.88 and a current ratio of 1.63.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.70 EPS for the quarter, beating analysts' consensus estimates of $1.54 by $0.16. Pilgrim's Pride had a return on equity of 37.15% and a net margin of 6.81%.The company had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.62 billion. During the same quarter in the prior year, the firm earned $1.67 EPS. The company's quarterly revenue was up 4.3% compared to the same quarter last year. As a group, equities analysts anticipate that Pilgrim's Pride Corporation will post 5.13 EPS for the current fiscal year.

Pilgrim's Pride Announces Dividend

The business also recently disclosed a special dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th were given a dividend of $2.10 per share. The ex-dividend date was Wednesday, August 20th.

Pilgrim's Pride Company 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.

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