Quantbot Technologies LP Sells 15,243 Shares of Pilgrim's Pride Corporation $PPC

Key Points

• Quantbot Technologies LP reduced its holdings in Pilgrim's Pride Corporation by 42.2%, now owning 20,837 shares worth approximately $1.14 million.
• Pilgrim's Pride reported $1.70 EPS for the most recent quarter, exceeding estimates and showing a revenue increase of 4.3% year-over-year.
• The company declared a $2.10 dividend per share, to be paid on September 3rd, with an ex-dividend date of August 20th.

Quantbot Technologies LP reduced its stake in Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) by 42.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,837 shares of the company's stock after selling 15,243 shares during the period. Quantbot Technologies LP's holdings in Pilgrim's Pride were worth $1,136,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PPC. Wells Fargo & Company MN increased its holdings in shares of Pilgrim's Pride by 7.8% in the fourth quarter. Wells Fargo & Company MN now owns 25,926 shares of the company's stock valued at $1,177,000 after purchasing an additional 1,876 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Pilgrim's Pride in the fourth quarter valued at about $2,664,000. Mariner LLC grew its stake in shares of Pilgrim's Pride by 60.6% in the fourth quarter. Mariner LLC now owns 32,454 shares of the company's stock valued at $1,473,000 after acquiring an additional 12,244 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of Pilgrim's Pride by 9.0% in the fourth quarter. MetLife Investment Management LLC now owns 22,908 shares of the company's stock valued at $1,040,000 after acquiring an additional 1,883 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Pilgrim's Pride by 255.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,725 shares of the company's stock valued at $305,000 after acquiring an additional 4,832 shares in the last quarter. 16.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on PPC. The Goldman Sachs Group began coverage on shares of Pilgrim's Pride in a research note on Monday, June 23rd. They issued a "neutral" rating and a $50.00 price target on the stock. Wall Street Zen downgraded shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $47.50.

Pilgrim's Pride Price Performance

Shares of PPC stock traded up $0.82 on Friday, reaching $44.45. The company had a trading volume of 1,092,717 shares, compared to its average volume of 1,276,787. The stock has a market capitalization of $10.56 billion, a PE ratio of 8.56 and a beta of 0.50. The company has a quick ratio of 0.88, a current ratio of 1.63 and a debt-to-equity ratio of 0.83. Pilgrim's Pride Corporation has a one year low of $40.09 and a one year high of $57.16. The business's 50-day moving average is $46.58 and its 200 day moving average is $49.21.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last posted its 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 firm had revenue of $4.76 billion during the quarter, compared to analysts' expectations of $4.62 billion. Pilgrim's Pride had a net margin of 6.81% and a return on equity of 37.15%. The business's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.67 earnings per share. Equities research analysts forecast that Pilgrim's Pride Corporation will post 5.13 EPS for the current fiscal year.

Pilgrim's Pride Dividend Announcement

The business also recently announced a special dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th will be issued a $2.10 dividend. The ex-dividend date of this dividend is 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.