Vident Advisory LLC Raises Position in Pilgrim's Pride Corporation $PPC

Key Points

• Vident Advisory LLC has significantly increased its stake in Pilgrim's Pride Corporation by 117.4%, now owning 11,580 shares valued at $631,000.
• Pilgrim’s Pride reported a quarterly EPS of $1.70, surpassing estimates by $0.16, alongside revenues of $4.76 billion, which exceeded analyst projections.
• The company declared a special dividend of $2.10 per share, which was paid out to investors on September 3rd.

Vident Advisory LLC raised its position in Pilgrim's Pride Corporation (NASDAQ:PPC - Free Report) by 117.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 11,580 shares of the company's stock after buying an additional 6,254 shares during the quarter. Vident Advisory LLC's holdings in Pilgrim's Pride were worth $631,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in shares of Pilgrim's Pride by 18.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 56,066 shares of the company's stock worth $3,154,000 after buying an additional 8,638 shares in the last quarter. GAMMA Investing LLC increased its position in Pilgrim's Pride by 18.6% during the 1st quarter. GAMMA Investing LLC now owns 3,189 shares of the company's stock worth $174,000 after purchasing an additional 501 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Pilgrim's Pride during the 1st quarter worth approximately $355,000. LPL Financial LLC grew its position in Pilgrim's Pride by 135.2% in the first quarter. LPL Financial LLC now owns 98,394 shares of the company's stock valued at $5,363,000 after acquiring an additional 56,568 shares in the last quarter. Finally, KBC Group NV purchased a new position in shares of Pilgrim's Pride during the 1st quarter valued at approximately $144,000. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

Pilgrim's Pride Price Performance

Shares of PPC stock traded up $0.76 during trading hours on Thursday, hitting $44.06. 1,930,840 shares of the company's stock were exchanged, compared to its average volume of 1,341,483. The stock's 50-day moving average is $46.35 and its 200-day moving average is $48.67. 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 stock has a market cap of $10.47 billion, a price-to-earnings ratio of 8.49 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.

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

Pilgrim's Pride Announces Dividend

The business also recently announced a special dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th were given a dividend of $2.10 per share. The ex-dividend date was Wednesday, August 20th.

Wall Street Analysts Forecast Growth

PPC has been the topic of several research analyst reports. Wall Street Zen upgraded Pilgrim's Pride from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 5th. The Goldman Sachs Group started coverage on shares of Pilgrim's Pride in a research note on Monday, June 23rd. They set a "neutral" rating and a $50.00 price objective on the stock. Five equities research 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 price target of $47.50.

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.