Plato Investment Management Ltd acquired a new stake in Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,514 shares of the company's stock, valued at approximately $579,000.
A number of other hedge funds also recently bought and sold shares of the business. Bayforest Capital Ltd raised its holdings in Pilgrim's Pride by 53.5% in the 1st quarter. Bayforest Capital Ltd now owns 10,134 shares of the company's stock valued at $552,000 after acquiring an additional 3,531 shares during the last quarter. Empowered Funds LLC raised its holdings in Pilgrim's Pride by 3.5% in the 1st quarter. Empowered Funds LLC now owns 75,632 shares of the company's stock valued at $4,123,000 after acquiring an additional 2,556 shares during the last quarter. Great Lakes Advisors LLC acquired a new stake in Pilgrim's Pride in the 1st quarter valued at about $418,000. Goldman Sachs Group Inc. raised its holdings in Pilgrim's Pride by 15.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,243,039 shares of the company's stock valued at $67,758,000 after acquiring an additional 166,967 shares during the last quarter. Finally, Kestra Investment Management LLC raised its holdings in Pilgrim's Pride by 72.5% in the 1st quarter. Kestra Investment Management LLC now owns 35,987 shares of the company's stock valued at $1,955,000 after acquiring an additional 15,121 shares during the last quarter. Institutional investors and hedge funds own 16.64% of the company's stock.
Pilgrim's Pride Trading Up 0.1%
Shares of NASDAQ:PPC traded up $0.05 during mid-day trading on Wednesday, reaching $42.59. 482,680 shares of the company were exchanged, compared to its average volume of 1,315,789. Pilgrim's Pride Corporation has a 1 year low of $41.44 and a 1 year high of $57.16. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.63 and a quick ratio of 0.88. The firm's 50-day simple moving average is $46.19 and its 200 day simple moving average is $48.40. The firm has a market cap of $10.12 billion, a price-to-earnings ratio of 8.20 and a beta of 0.50.
Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.16. Pilgrim's Pride had a net margin of 6.81% and a return on equity of 37.15%. The firm had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.62 billion. During the same quarter last year, the firm earned $1.67 EPS. The firm's revenue for the quarter was up 4.3% on a year-over-year basis. Equities research analysts forecast 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 issued a $2.10 dividend. The ex-dividend date was Wednesday, August 20th.
Analyst Upgrades and Downgrades
A number of research firms have commented on PPC. Wall Street Zen downgraded shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a report on Saturday. The Goldman Sachs Group began coverage on shares of Pilgrim's Pride in a report on Monday, June 23rd. They set a "neutral" rating and a $50.00 price target for the company. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Pilgrim's Pride has a consensus rating of "Hold" and an average target price of $47.50.
Check Out Our Latest Stock Analysis on PPC
About Pilgrim's Pride
(
Free Report)
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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