First Trust Advisors LP Grows Stock Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

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First Trust Advisors LP increased its position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 13.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 495,100 shares of the company’s stock after buying an additional 58,112 shares during the quarter. First Trust Advisors LP owned about 0.20% of Pilgrim’s Pride worth $8,362,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Mason Street Advisors LLC increased its holdings in Pilgrim’s Pride by 1.5% in the 4th quarter. Mason Street Advisors LLC now owns 27,876 shares of the company’s stock valued at $912,000 after purchasing an additional 420 shares during the last quarter. Twinbeech Capital LP lifted its position in Pilgrim’s Pride by 5.3% in the first quarter. Twinbeech Capital LP now owns 12,932 shares of the company’s stock valued at $234,000 after acquiring an additional 651 shares during the last quarter. Symmetry Partners LLC lifted its position in Pilgrim’s Pride by 5.2% in the first quarter. Symmetry Partners LLC now owns 16,988 shares of the company’s stock valued at $308,000 after acquiring an additional 843 shares during the last quarter. American International Group Inc. lifted its position in Pilgrim’s Pride by 1.0% in the first quarter. American International Group Inc. now owns 102,339 shares of the company’s stock valued at $1,854,000 after acquiring an additional 1,033 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. lifted its position in Pilgrim’s Pride by 12.1% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 9,863 shares of the company’s stock valued at $220,000 after acquiring an additional 1,063 shares during the last quarter. 18.87% of the stock is currently owned by hedge funds and other institutional investors.

PPC has been the subject of a number of research reports. BMO Capital Markets cut shares of Pilgrim’s Pride from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $36.00 to $21.00 in a research report on Monday, June 29th. Zacks Investment Research cut shares of Pilgrim’s Pride from a “strong-buy” rating to a “hold” rating and set a $19.00 target price for the company. in a report on Thursday, July 9th. Barclays cut shares of Pilgrim’s Pride from an “overweight” rating to an “equal weight” rating and set a $20.00 target price for the company. in a report on Monday, June 29th. Stephens cut shares of Pilgrim’s Pride from an “overweight” rating to an “equal weight” rating in a report on Wednesday, June 3rd. Finally, BidaskClub cut shares of Pilgrim’s Pride from a “sell” rating to a “strong sell” rating in a report on Saturday, June 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. Pilgrim’s Pride presently has a consensus rating of “Hold” and an average target price of $25.38.

NASDAQ PPC opened at $15.35 on Friday. Pilgrim’s Pride Co. has a one year low of $14.87 and a one year high of $33.67. The company has a 50-day simple moving average of $16.83 and a 200-day simple moving average of $20.73. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.99 and a current ratio of 1.89. The firm has a market capitalization of $3.79 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 1.25 and a beta of 0.97.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.13). The firm had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.93 billion. Pilgrim’s Pride had a net margin of 2.24% and a return on equity of 7.89%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 earnings per share. Equities analysts forecast that Pilgrim’s Pride Co. will post 1.82 earnings per share for the current year.

About Pilgrim’s Pride

Pilgrim's Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products in the United States, the United Kingdom, Europe, and Mexico. The company offers fresh chicken products, including pre-marinated or non-marinated refrigerated (nonfrozen) whole or cut-up chicken; and prepackaged case-ready chicken, such as whole chickens and chicken parts.

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Institutional Ownership by Quarter for Pilgrim`s Pride (NASDAQ:PPC)

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