Redwood Investment Management LLC Has $1.29 Million Stake in Pilgrim's Pride Corporation $PPC

Key Points

• Redwood Investment Management LLC has decreased its stake in Pilgrim's Pride Corporation by 39.3%, owning 23,665 shares valued at approximately $1.29 million as of the latest SEC filing.
• Pilgrim's Pride reported a quarterly EPS of $1.70, exceeding estimates by $0.16, with revenues of $4.76 billion, a 4.3% increase year-over-year.
• The company announced a dividend of $2.10 per share, to be paid on September 3rd, with the record date being August 20th.

Redwood Investment Management LLC lowered its position in shares of Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) by 39.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,665 shares of the company's stock after selling 15,300 shares during the quarter. Redwood Investment Management LLC's holdings in Pilgrim's Pride were worth $1,290,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in shares of Pilgrim's Pride by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,903,586 shares of the company's stock valued at $158,261,000 after purchasing an additional 29,549 shares in the last quarter. AQR Capital Management LLC increased its holdings in Pilgrim's Pride by 44.1% in the fourth quarter. AQR Capital Management LLC now owns 1,883,708 shares of the company's stock worth $85,502,000 after purchasing an additional 576,438 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Pilgrim's Pride by 26.8% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,845,480 shares of the company's stock valued at $83,766,000 after buying an additional 389,967 shares during the period. Assetmark Inc. boosted its holdings in shares of Pilgrim's Pride by 26.1% during the 1st quarter. Assetmark Inc. now owns 1,070,893 shares of the company's stock worth $58,374,000 after buying an additional 221,617 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Pilgrim's Pride by 36.9% during the 1st quarter. Northern Trust Corp now owns 525,497 shares of the company's stock worth $28,645,000 after buying an additional 141,745 shares during the period. 16.64% of the stock is currently owned by institutional investors and hedge funds.

Pilgrim's Pride Stock Up 0.7%

Pilgrim's Pride stock opened at $44.93 on Thursday. The firm has a market capitalization of $10.67 billion, a price-to-earnings ratio of 8.66 and a beta of 0.50. The firm's fifty day moving average price is $46.65 and its two-hundred day moving average price is $49.32. Pilgrim's Pride Corporation has a 1-year low of $40.09 and a 1-year high of $57.16. The company has a current ratio of 1.63, a quick ratio of 0.88 and a debt-to-equity ratio of 0.83.

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 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 company had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.62 billion. During the same period in the previous year, the firm posted $1.67 earnings per share. The firm's revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities research analysts predict that Pilgrim's Pride Corporation will post 5.13 earnings per share for the current fiscal year.

Pilgrim's Pride Announces Dividend

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

Analyst Ratings Changes

PPC has been the topic of a number of research reports. The Goldman Sachs Group assumed coverage on shares of Pilgrim's Pride in a research report on Monday, June 23rd. They set a "neutral" rating and a $50.00 target price 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 research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $47.50.

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.