Sherbrooke Park Advisers LLC lessened its holdings in shares of Pilgrim's Pride Co. (NASDAQ:PPC - Free Report) by 29.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,329 shares of the company's stock after selling 6,316 shares during the quarter. Sherbrooke Park Advisers LLC's holdings in Pilgrim's Pride were worth $696,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Xponance Inc. boosted its position in shares of Pilgrim's Pride by 3.7% in the fourth quarter. Xponance Inc. now owns 6,307 shares of the company's stock valued at $286,000 after acquiring an additional 225 shares during the period. CIBC Asset Management Inc boosted its position in shares of Pilgrim's Pride by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 7,207 shares of the company's stock valued at $327,000 after acquiring an additional 371 shares during the period. Amalgamated Bank boosted its position in shares of Pilgrim's Pride by 3.2% in the fourth quarter. Amalgamated Bank now owns 19,033 shares of the company's stock valued at $864,000 after acquiring an additional 585 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Pilgrim's Pride by 19.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,642 shares of the company's stock valued at $165,000 after acquiring an additional 593 shares during the period. Finally, US Bancorp DE boosted its position in shares of Pilgrim's Pride by 23.3% in the fourth quarter. US Bancorp DE now owns 3,445 shares of the company's stock valued at $156,000 after acquiring an additional 650 shares during the period. Institutional investors own 16.64% of the company's stock.
Pilgrim's Pride Trading Up 5.0%
Shares of PPC traded up $2.46 during mid-day trading on Tuesday, reaching $51.21. The company's stock had a trading volume of 2,383,318 shares, compared to its average volume of 1,187,113. The stock has a market cap of $12.14 billion, a PE ratio of 11.23 and a beta of 0.51. The company has a current ratio of 2.01, a quick ratio of 1.31 and a debt-to-equity ratio of 0.75. Pilgrim's Pride Co. has a 52 week low of $33.70 and a 52 week high of $57.16. The company's fifty day moving average price is $50.84 and its two-hundred day moving average price is $50.16.
Pilgrim's Pride (NASDAQ:PPC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.26 by $0.05. The firm had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.53 billion. Pilgrim's Pride had a net margin of 6.08% and a return on equity of 32.83%. The business's quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.77 EPS. On average, analysts predict that Pilgrim's Pride Co. will post 5.13 earnings per share for the current fiscal year.
Pilgrim's Pride Increases Dividend
The company also recently announced a special dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 3rd were paid a $6.30 dividend. This is an increase from Pilgrim's Pride's previous special dividend of $2.75. The ex-dividend date of this dividend was Thursday, April 3rd.
Analyst Ratings Changes
A number of equities analysts have recently commented on the stock. StockNews.com lowered shares of Pilgrim's Pride from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, May 13th. Santander started coverage on shares of Pilgrim's Pride in a research report on Wednesday, March 5th. They set a "neutral" rating for the company. Finally, BMO Capital Markets lifted their target price on shares of Pilgrim's Pride from $47.00 to $48.00 and gave the company a "market perform" rating in a research report on Monday, March 17th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $48.40.
View Our Latest Stock Analysis on PPC
About Pilgrim's Pride
(
Free Report)
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.
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