Pilgrim's Pride Corporation $PPC Stock Position Raised by Cwm LLC

Key Points

• Cwm LLC significantly increased its stake in Pilgrim's Pride Corporation by 553.0% in the second quarter, now owning 23,945 shares valued at approximately $1,077,000.
• Pilgrim's Pride reported earnings of $1.70 per share for the last quarter, surpassing analyst expectations, with a 12-month revenue increase of 4.3%.
• The company also declared a special dividend of $2.10 paid out on September 3rd, reflecting its ongoing commitment to shareholder returns.

Cwm LLC raised its position in shares of Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) by 553.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,945 shares of the company's stock after purchasing an additional 20,278 shares during the period. Cwm LLC's holdings in Pilgrim's Pride were worth $1,077,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PPC. GAMMA Investing LLC raised its stake in shares of Pilgrim's Pride by 18.6% during the 1st quarter. GAMMA Investing LLC now owns 3,189 shares of the company's stock worth $174,000 after purchasing an additional 501 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Pilgrim's Pride in the 1st quarter valued at approximately $355,000. Janney Montgomery Scott LLC bought a new position in shares of Pilgrim's Pride in the 1st quarter valued at approximately $3,348,000. Blue Trust Inc. raised its stake in shares of Pilgrim's Pride by 39.1% in the 1st quarter. Blue Trust Inc. now owns 4,076 shares of the company's stock valued at $222,000 after acquiring an additional 1,146 shares in the last quarter. Finally, Spirepoint Private Client LLC bought a new position in shares of Pilgrim's Pride in the 1st quarter valued at approximately $206,000. 16.64% of the stock is owned by hedge funds and other institutional investors.

Pilgrim's Pride Stock Performance

Shares of NASDAQ PPC opened at $37.78 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 1.63 and a debt-to-equity ratio of 0.83. The business's 50 day moving average is $42.37 and its two-hundred day moving average is $46.18. The company has a market cap of $8.97 billion, a P/E ratio of 7.28 and a beta of 0.45. Pilgrim's Pride Corporation has a 12 month low of $36.90 and a 12 month high of $57.16.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.54 by $0.16. The business had revenue of $4.76 billion for the quarter, compared to analysts' expectations of $4.62 billion. Pilgrim's Pride had a return on equity of 37.15% and a net margin of 6.81%.Pilgrim's Pride's quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.67 earnings per share. On average, equities analysts expect that Pilgrim's Pride Corporation will post 5.13 EPS for the current year.

Pilgrim's Pride Announces Dividend

The business also recently declared a special dividend, which was paid on Wednesday, September 3rd. Investors 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

A number of research analysts recently weighed in on the company. The Goldman Sachs Group cut their price objective on Pilgrim's Pride from $54.00 to $46.00 and set a "neutral" rating on the stock in a research note on Monday, October 13th. Wall Street Zen downgraded Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 13th. Zacks Research downgraded Pilgrim's Pride from a "hold" rating to a "strong sell" rating in a research note on Thursday, October 9th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Pilgrim's Pride in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Pilgrim's Pride has an average rating of "Reduce" and an average price target of $47.67.

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.

Want to see what other hedge funds are holding PPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.