Journey Advisory Group LLC Lowers Position in Pilgrim’s Pride Corporation $PPC

Journey Advisory Group LLC cut its stake in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 38.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 10,505 shares of the company’s stock after selling 6,620 shares during the quarter. Journey Advisory Group LLC’s holdings in Pilgrim’s Pride were worth $473,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the business. GAMMA Investing LLC boosted its stake in Pilgrim’s Pride by 18.6% during the first quarter. GAMMA Investing LLC now owns 3,189 shares of the company’s stock valued at $174,000 after buying an additional 501 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Pilgrim’s Pride during the first quarter valued at approximately $355,000. Janney Montgomery Scott LLC bought a new position in shares of Pilgrim’s Pride during the first quarter valued at approximately $3,348,000. Blue Trust Inc. grew its stake in shares of Pilgrim’s Pride by 39.1% during the first quarter. Blue Trust Inc. now owns 4,076 shares of the company’s stock valued at $222,000 after buying an additional 1,146 shares during the last quarter. Finally, Spirepoint Private Client LLC bought a new position in shares of Pilgrim’s Pride during the first quarter valued at approximately $206,000. Institutional investors own 16.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Pilgrim’s Pride in a research note on Wednesday, October 8th. Wall Street Zen lowered Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 13th. The Goldman Sachs Group decreased their price objective 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 lowered Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 9th. Five analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Pilgrim’s Pride has an average rating of “Reduce” and an average target price of $47.67.

Pilgrim’s Pride Trading Up 0.3%

PPC stock opened at $37.46 on Tuesday. The company has a current ratio of 1.63, a quick ratio of 0.88 and a debt-to-equity ratio of 0.83. Pilgrim’s Pride Corporation has a 12-month low of $36.90 and a 12-month high of $57.16. The stock has a market cap of $8.90 billion, a price-to-earnings ratio of 7.22 and a beta of 0.45. The business’s 50-day moving average is $42.61 and its 200 day moving average is $46.24.

Pilgrim’s Pride (NASDAQ:PPC) last released its earnings results on Wednesday, July 30th. The company reported $1.70 earnings per share for the quarter, topping 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 business 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. The business’s revenue was up 4.3% on a year-over-year basis. On average, sell-side analysts anticipate that Pilgrim’s Pride Corporation will post 5.13 EPS for the current fiscal year.

Pilgrim’s Pride Dividend Announcement

The company also recently declared 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.