Ruffer LLP Grows Stock Holdings in Pilgrim's Pride Corporation (NASDAQ:PPC)

Key Points

• Ruffer LLP increased its holdings in Pilgrim's Pride Corporation by 23.7% during the first quarter, owning 228,365 shares valued at approximately $12.45 million.
• Pilgrim's Pride reported earnings per share (EPS) of $1.70 for the last quarter, surpassing analyst estimates of $1.54, with revenues totaling $4.76 billion.
• Wall Street analysts currently have an average rating of "Hold" for Pilgrim's Pride, with a price target of $48.67 following recent analyses.

Ruffer LLP lifted its stake in shares of Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) by 23.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 228,365 shares of the company's stock after acquiring an additional 43,716 shares during the quarter. Ruffer LLP owned approximately 0.10% of Pilgrim's Pride worth $12,448,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Accredited Wealth Management LLC purchased a new position in shares of Pilgrim's Pride during the fourth quarter valued at about $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Pilgrim's Pride in the 4th quarter valued at about $55,000. Raleigh Capital Management Inc. bought a new position in shares of Pilgrim's Pride in the 1st quarter valued at about $74,000. PNC Financial Services Group Inc. lifted its holdings in shares of 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 valued at $76,000 after acquiring an additional 441 shares during the last quarter. Finally, Central Pacific Bank Trust Division bought a new position in shares of Pilgrim's Pride in the 1st quarter valued at about $133,000. 16.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of Pilgrim's Pride in a report on Monday, June 23rd. They issued a "neutral" rating and a $50.00 price target for the company. 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. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $48.67.

Pilgrim's Pride Stock Up 0.4%

Shares of NASDAQ PPC traded up $0.19 during midday trading on Friday, reaching $50.10. 361,264 shares of the company's stock traded hands, compared to its average volume of 1,304,876. 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 stock's 50 day simple moving average is $46.45 and its 200-day simple moving average is $49.26. Pilgrim's Pride Corporation has a one year low of $40.09 and a one year high of $57.16. The company has a market cap of $11.90 billion, a price-to-earnings ratio of 9.65 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 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $4.62 billion. During the same quarter in the prior year, the company posted $1.67 earnings per share. Pilgrim's Pride's revenue for the quarter was up 4.3% compared to the same quarter last year. On average, analysts predict that Pilgrim's Pride Corporation will post 5.13 EPS for the current fiscal year.

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.