Pilgrim's Pride Corporation $PPC Shares Sold by Amundi

Key Points

• Amundi significantly reduced its stake in Pilgrim's Pride Corporation by 64.3%, selling 141,148 shares and retaining 78,387 shares worth approximately $4 million.
• Pilgrim's Pride reported a quarterly EPS of $1.70, beating analyst expectations of $1.54, with revenues reaching $4.76 billion, up 4.3% year-over-year.
• The company recently announced a special dividend of $2.10, paid to shareholders on September 3rd, with a record date of August 20th.

Amundi reduced its position in shares of Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) by 64.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,387 shares of the company's stock after selling 141,148 shares during the period. Amundi's holdings in Pilgrim's Pride were worth $4,002,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group increased its stake in Pilgrim's Pride by 309.4% in the 1st quarter. Brooklyn Investment Group now owns 651 shares of the company's stock worth $35,000 after purchasing an additional 492 shares in the last quarter. Quarry LP purchased a new position in Pilgrim's Pride in the 1st quarter worth about $43,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Pilgrim's Pride in the 4th quarter worth about $55,000. Raleigh Capital Management Inc. purchased a new position in Pilgrim's Pride in the 1st quarter worth about $74,000. Finally, PNC Financial Services Group Inc. increased its stake in Pilgrim's Pride by 46.7% in the 1st 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 in the last quarter. 16.64% of the stock is owned by institutional investors and hedge funds.

Pilgrim's Pride Stock Down 0.8%

PPC opened at $43.30 on Thursday. The business has a 50 day moving average price of $46.38 and a 200 day moving average price of $48.74. Pilgrim's Pride Corporation has a twelve month low of $40.09 and a twelve month high of $57.16. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.88 and a current ratio of 1.63. The firm has a market cap of $10.29 billion, a P/E ratio of 8.34 and a beta of 0.50.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.70 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.16. The company had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.62 billion. Pilgrim's Pride had a return on equity of 37.15% and a net margin of 6.81%.The company's quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.67 earnings per share. Research analysts forecast that Pilgrim's Pride Corporation will post 5.13 EPS for the current year.

Pilgrim's Pride Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th were paid a $2.10 dividend. The ex-dividend date of this dividend was Wednesday, August 20th.

Analysts Set New Price Targets

Several equities analysts have weighed in on PPC shares. Wall Street Zen raised Pilgrim's Pride from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 5th. The Goldman Sachs Group started coverage on Pilgrim's Pride in a research note on Monday, June 23rd. They set a "neutral" rating and a $50.00 target price on the stock. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $47.50.

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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