Pilgrim’s Pride Corporation $PPC Shares Bought by Smith Group Asset Management LLC

Smith Group Asset Management LLC increased its position in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 36.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,600 shares of the company’s stock after purchasing an additional 5,760 shares during the quarter. Smith Group Asset Management LLC’s holdings in Pilgrim’s Pride were worth $972,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in Pilgrim’s Pride by 25.9% during the 1st quarter. AQR Capital Management LLC now owns 2,370,927 shares of the company’s stock valued at $128,599,000 after acquiring an additional 487,219 shares during the period. Cubist Systematic Strategies LLC raised its stake in shares of Pilgrim’s Pride by 77.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 785,098 shares of the company’s stock valued at $42,796,000 after buying an additional 341,517 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Pilgrim’s Pride by 448.0% in the 2nd quarter. Allianz Asset Management GmbH now owns 396,785 shares of the company’s stock valued at $17,847,000 after buying an additional 324,382 shares during the period. Assetmark Inc. grew its holdings in Pilgrim’s Pride by 26.1% during the first quarter. Assetmark Inc. now owns 1,070,893 shares of the company’s stock worth $58,374,000 after acquiring an additional 221,617 shares during the period. Finally, Millennium Management LLC raised its position in Pilgrim’s Pride by 180.7% during the first quarter. Millennium Management LLC now owns 342,774 shares of the company’s stock valued at $18,685,000 after acquiring an additional 220,673 shares in the last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Down 1.4%

Shares of NASDAQ PPC opened at $37.61 on Friday. The firm has a market cap of $8.93 billion, a price-to-earnings ratio of 7.25 and a beta of 0.45. The company’s 50-day simple moving average is $41.94 and its 200-day simple moving average is $46.04. The company has a quick ratio of 0.88, a current ratio of 1.63 and a debt-to-equity ratio of 0.83. Pilgrim’s Pride Corporation has a 52-week low of $36.90 and a 52-week high of $57.16.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly 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. Pilgrim’s Pride had a net margin of 6.81% and a return on equity of 37.15%. The firm had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.62 billion. During the same period last year, the company posted $1.67 EPS. Pilgrim’s Pride’s quarterly revenue was up 4.3% compared to the same quarter last year. Equities analysts predict that Pilgrim’s Pride Corporation will post 5.13 EPS for the current fiscal year.

Pilgrim’s Pride Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were paid a $2.10 dividend. The ex-dividend date of this dividend was Wednesday, August 20th.

Wall Street Analysts Forecast Growth

Several research firms have commented on PPC. Zacks Research lowered Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 9th. The Goldman Sachs Group lowered their price target on shares of Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pilgrim’s Pride in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 13th. Five equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Pilgrim’s Pride has an average rating of “Reduce” and an average price target of $47.67.

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.