Pilgrim’s Pride Corporation $PPC Shares Purchased by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd boosted its holdings in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 117.5% during the second quarter, Holdings Channel reports. The institutional investor owned 1,231 shares of the company’s stock after buying an additional 665 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in Pilgrim’s Pride were worth $55,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Smith Group Asset Management LLC raised its holdings in shares of Pilgrim’s Pride by 36.4% in the 2nd quarter. Smith Group Asset Management LLC now owns 21,600 shares of the company’s stock worth $972,000 after purchasing an additional 5,760 shares during the period. TFB Advisors LLC raised its holdings in shares of Pilgrim’s Pride by 21.2% in the 2nd quarter. TFB Advisors LLC now owns 7,833 shares of the company’s stock worth $352,000 after purchasing an additional 1,371 shares during the period. Denali Advisors LLC raised its holdings in shares of Pilgrim’s Pride by 30.6% in the 2nd quarter. Denali Advisors LLC now owns 11,977 shares of the company’s stock worth $539,000 after purchasing an additional 2,808 shares during the period. Cullen Frost Bankers Inc. raised its holdings in shares of Pilgrim’s Pride by 18.2% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,566 shares of the company’s stock worth $70,000 after purchasing an additional 241 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Pilgrim’s Pride in the 2nd quarter worth about $2,231,000. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

Pilgrim’s Pride Stock Performance

Shares of NASDAQ:PPC opened at $37.47 on Friday. The company has a market cap of $8.90 billion, a P/E ratio of 7.22 and a beta of 0.45. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.88 and a current ratio of 1.63. Pilgrim’s Pride Corporation has a one year low of $36.90 and a one year high of $57.16. The business’s 50-day simple moving average is $41.73 and its 200 day simple moving average is $45.94.

Pilgrim’s Pride (NASDAQ:PPC) last announced its earnings results on Wednesday, July 30th. The company reported $1.70 EPS for the quarter, beating the consensus estimate 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 business had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.62 billion. During the same period last year, the business posted $1.67 EPS. The company’s revenue was up 4.3% on a year-over-year basis. On average, sell-side analysts forecast that Pilgrim’s Pride Corporation will post 5.13 earnings per share for the current fiscal year.

Pilgrim’s Pride Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Wednesday, August 20th were issued a dividend of $2.10 per share. The ex-dividend date was Wednesday, August 20th.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PPC. Wall Street Zen downgraded Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 13th. Zacks Research downgraded Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a report on Thursday, October 9th. The Goldman Sachs Group dropped their target price on Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. Finally, Weiss Ratings upgraded Pilgrim’s Pride from a “hold (c+)” rating to a “buy (b-)” rating in a report on Saturday. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $47.67.

Pilgrim’s Pride Company 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.