Koshinski Asset Management Inc. Buys Shares of 13,676 Pilgrim’s Pride Corporation $PPC

Koshinski Asset Management Inc. bought a new stake in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,676 shares of the company’s stock, valued at approximately $615,000.

Several other hedge funds and other institutional investors have also bought and sold shares of PPC. Brooklyn Investment Group lifted its stake in Pilgrim’s Pride by 309.4% during the 1st quarter. Brooklyn Investment Group now owns 651 shares of the company’s stock valued at $35,000 after acquiring an additional 492 shares during the period. Quarry LP bought a new position in Pilgrim’s Pride during the 1st quarter valued at about $43,000. Ameritas Advisory Services LLC bought a new position in Pilgrim’s Pride during the 2nd quarter valued at about $45,000. Rosenberg Matthew Hamilton bought a new position in shares of Pilgrim’s Pride in the 2nd quarter worth approximately $62,000. Finally, Raleigh Capital Management Inc. bought a new position in shares of Pilgrim’s Pride in the 1st quarter worth approximately $74,000. Institutional investors own 16.64% of the company’s stock.

Wall Street Analyst Weigh In

PPC has been the topic of several recent research reports. The Goldman Sachs Group lowered their price objective on shares of Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Zacks Research cut shares of Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 9th. Weiss Ratings restated a “hold (c+)” rating on shares of Pilgrim’s Pride in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 13th. Five equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $47.67.

Pilgrim’s Pride Trading Up 0.2%

Pilgrim’s Pride stock opened at $37.36 on Monday. The stock has a market cap of $8.87 billion, a P/E ratio of 7.20 and a beta of 0.45. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.63 and a quick ratio of 0.88. Pilgrim’s Pride Corporation has a 1 year low of $37.03 and a 1 year high of $57.16. The firm’s 50 day moving average price is $42.87 and its 200-day moving average price is $46.33.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.16. The firm had revenue of $4.76 billion for the quarter, compared to analysts’ expectations 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 last year, the business posted $1.67 earnings per share. On average, equities analysts predict that Pilgrim’s Pride Corporation will post 5.13 earnings per share for the current fiscal year.

Pilgrim’s Pride Announces Dividend

The business also recently disclosed 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.

About Pilgrim’s Pride

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.