PFG Advisors Invests $408,000 in Pilgrim’s Pride Corporation $PPC

PFG Advisors purchased a new position in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,063 shares of the company’s stock, valued at approximately $408,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PPC. Brooklyn Investment Group raised its stake in Pilgrim’s Pride by 309.4% during the first quarter. Brooklyn Investment Group now owns 651 shares of the company’s stock valued at $35,000 after buying an additional 492 shares in the last quarter. Quarry LP acquired a new stake in shares of Pilgrim’s Pride during the 1st quarter valued at approximately $43,000. Ameritas Advisory Services LLC bought a new position in Pilgrim’s Pride during the second quarter worth $45,000. Caitong International Asset Management Co. Ltd boosted its holdings in Pilgrim’s Pride by 117.5% in the second quarter. Caitong International Asset Management Co. Ltd now owns 1,231 shares of the company’s stock worth $55,000 after purchasing an additional 665 shares during the period. Finally, Rosenberg Matthew Hamilton acquired a new position in Pilgrim’s Pride in the second quarter worth $62,000. 16.64% of the stock is owned by institutional investors.

Pilgrim’s Pride Trading Up 0.7%

Pilgrim’s Pride stock opened at $37.79 on Wednesday. Pilgrim’s Pride Corporation has a 52-week low of $35.73 and a 52-week high of $57.16. The company has a quick ratio of 0.88, a current ratio of 1.63 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $8.98 billion, a price-to-earnings ratio of 7.32 and a beta of 0.48. The firm has a 50-day moving average price of $39.79 and a two-hundred day moving average price of $44.54.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.41 by $0.11. The company had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.65 billion. Pilgrim’s Pride had a net margin of 6.70% and a return on equity of 37.75%. Pilgrim’s Pride’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.63 earnings per share. Sell-side analysts expect that Pilgrim’s Pride Corporation will post 5.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PPC shares. Wall Street Zen downgraded shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings cut shares of Pilgrim’s Pride from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday. The Goldman Sachs Group lowered their target price on Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating for the company in a report on Monday, October 13th. Finally, Zacks Research raised Pilgrim’s Pride from a “strong sell” rating to a “hold” rating in a report on Friday, November 7th. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $47.00.

Pilgrim’s Pride 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.