Ruffer LLP Acquires 43,716 Shares of 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 grew its stake in shares of Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) by 23.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 228,365 shares of the company's stock after buying an additional 43,716 shares during the quarter. Ruffer LLP owned approximately 0.10% of Pilgrim's Pride worth $12,448,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Pilgrim's Pride by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 5,113,888 shares of the company's stock worth $232,119,000 after purchasing an additional 33,965 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Pilgrim's Pride by 44.1% in the 4th quarter. AQR Capital Management LLC now owns 1,883,708 shares of the company's stock worth $85,502,000 after acquiring an additional 576,438 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Pilgrim's Pride by 26.8% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,845,480 shares of the company's stock worth $83,766,000 after buying an additional 389,967 shares in the last quarter. Invesco Ltd. grew its position in shares of Pilgrim's Pride by 11.9% during the 4th quarter. Invesco Ltd. now owns 1,125,329 shares of the company's stock valued at $51,079,000 after acquiring an additional 119,555 shares during the period. Finally, Assetmark Inc. boosted its holdings in Pilgrim's Pride by 26.1% in 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 during the period. Institutional investors own 16.64% of the company's stock.

Wall Street Analysts Forecast Growth

PPC has been the topic of several research reports. The Goldman Sachs Group began coverage on shares of Pilgrim's Pride in a research report on Monday, June 23rd. They set a "neutral" rating and a $50.00 price objective on the stock. Wall Street Zen cut shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $48.67.

Pilgrim's Pride Trading Up 0.7%

Pilgrim's Pride stock traded up $0.36 during trading hours on Wednesday, reaching $49.32. The stock had a trading volume of 914,292 shares, compared to its average volume of 1,297,414. The stock has a market cap of $11.72 billion, a PE ratio of 9.50 and a beta of 0.50. Pilgrim's Pride Corporation has a 52 week low of $40.09 and a 52 week 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 company has a fifty day simple moving average of $46.41 and a 200-day simple moving average of $49.23.

Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.70 earnings per share for the quarter, beating analysts' consensus estimates of $1.54 by $0.16. The firm had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.62 billion. Pilgrim's Pride had a net margin of 6.81% and a return on equity of 37.15%. The company's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.67 EPS. Analysts forecast that Pilgrim's Pride Corporation will post 5.13 EPS for the current fiscal year.

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.