Pilgrim's Pride Corporation $PPC Shares Purchased by Monument Capital Management

Key Points

• Monument Capital Management increased its ownership in Pilgrim's Pride by 12%, acquiring an additional 6,953 shares during the second quarter, bringing its total holdings to worth $2.9 million.
• Pilgrim's Pride announced a special dividend of $2.10 per share, which was paid to investors of record on August 20; the ex-dividend date occurred the same day.
• Despite a recent earnings report showing a 4.3% year-over-year increase in revenue, analysts have issued mostly "Hold" ratings on the stock, with an average price target of $49.00.

Monument Capital Management lifted its position in Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) by 12.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,773 shares of the company's stock after acquiring an additional 6,953 shares during the period. Monument Capital Management's holdings in Pilgrim's Pride were worth $2,913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc boosted its stake in shares of Pilgrim's Pride by 17.2% in the second quarter. IFP Advisors Inc now owns 8,292 shares of the company's stock worth $373,000 after acquiring an additional 1,216 shares during the last quarter. KLP Kapitalforvaltning AS boosted its stake in Pilgrim's Pride by 7.2% during the second quarter. KLP Kapitalforvaltning AS now owns 10,400 shares of the company's stock worth $468,000 after buying an additional 700 shares during the last quarter. LGT Fund Management Co Ltd. boosted its stake in Pilgrim's Pride by 31.0% during the second quarter. LGT Fund Management Co Ltd. now owns 66,400 shares of the company's stock worth $2,987,000 after buying an additional 15,697 shares during the last quarter. Hennessy Advisors Inc. acquired a new position in Pilgrim's Pride during the second quarter worth $8,254,000. Finally, QRG Capital Management Inc. acquired a new position in Pilgrim's Pride during the second quarter worth $331,000. 16.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Weiss Ratings reissued a "hold (c+)" rating on shares of Pilgrim's Pride in a research note on Wednesday. Wall Street Zen lowered Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 13th. Finally, The Goldman Sachs Group assumed coverage on Pilgrim's Pride in a research note on Monday, June 23rd. They set a "neutral" rating and a $50.00 price objective on the stock. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Pilgrim's Pride has an average rating of "Hold" and a consensus price target of $49.00.

Pilgrim's Pride Price Performance

PPC stock opened at $37.89 on Friday. The company has a current ratio of 1.63, a quick ratio of 0.88 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $9.00 billion, a PE ratio of 7.30 and a beta of 0.45. Pilgrim's Pride Corporation has a 12-month low of $37.03 and a 12-month high of $57.16. The business's fifty day moving average price is $44.22 and its 200 day moving average price is $47.07.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.70 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $4.76 billion during the quarter, compared to analysts' expectations of $4.62 billion. During the same period in the previous year, the firm posted $1.67 EPS. Pilgrim's Pride's revenue for the quarter was up 4.3% on a year-over-year basis. On average, sell-side analysts anticipate that Pilgrim's Pride Corporation will post 5.13 EPS for the current year.

Pilgrim's Pride Dividend Announcement

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

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.

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