KAMES CAPITAL plc Acquires New Position in Pilgrim’s Pride Co. (PPC)

KAMES CAPITAL plc acquired a new position in Pilgrim’s Pride Co. (NASDAQ:PPC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 53,354 shares of the company’s stock, valued at approximately $1,073,000.

Other large investors have also recently made changes to their positions in the company. LPL Financial LLC lifted its holdings in Pilgrim’s Pride by 12.6% during the fourth quarter. LPL Financial LLC now owns 18,164 shares of the company’s stock worth $564,000 after buying an additional 2,030 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Pilgrim’s Pride by 8.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 37,005 shares of the company’s stock worth $1,149,000 after buying an additional 2,987 shares during the period. Alps Advisors Inc. lifted its holdings in Pilgrim’s Pride by 20.9% during the first quarter. Alps Advisors Inc. now owns 19,615 shares of the company’s stock worth $483,000 after buying an additional 3,385 shares during the period. Advisors Preferred LLC purchased a new stake in Pilgrim’s Pride during the first quarter worth $100,000. Finally, Glenmede Trust Co. NA lifted its holdings in Pilgrim’s Pride by 96.9% during the fourth quarter. Glenmede Trust Co. NA now owns 8,361 shares of the company’s stock worth $259,000 after buying an additional 4,115 shares during the period. 23.89% of the stock is currently owned by institutional investors.

Shares of PPC opened at $19.31 on Thursday. Pilgrim’s Pride Co. has a 12 month low of $19.24 and a 12 month high of $38.39. The company has a quick ratio of 0.94, a current ratio of 1.80 and a debt-to-equity ratio of 1.29. The firm has a market cap of $5.02 billion, a PE ratio of 6.68 and a beta of 0.23.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings data on Thursday, May 10th. The company reported $0.53 EPS for the quarter, meeting the consensus estimate of $0.53. Pilgrim’s Pride had a return on equity of 44.25% and a net margin of 6.84%. The firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the prior year, the business posted $0.38 EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. analysts forecast that Pilgrim’s Pride Co. will post 2.56 earnings per share for the current year.

A number of research firms have weighed in on PPC. BidaskClub upgraded Pilgrim’s Pride from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 12th. Zacks Investment Research lowered Pilgrim’s Pride from a “buy” rating to a “hold” rating in a report on Wednesday, June 6th. ValuEngine lowered Pilgrim’s Pride from a “sell” rating to a “strong sell” rating in a report on Saturday, June 2nd. TheStreet lowered Pilgrim’s Pride from a “b-” rating to a “c” rating in a report on Thursday, May 10th. Finally, Mizuho restated a “buy” rating and set a $28.00 target price on shares of Pilgrim’s Pride in a report on Monday, April 23rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $27.80.

Pilgrim’s Pride Profile

Pilgrim's Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products in the United States, the United Kingdom, Europe, and Mexico. The company offers fresh chicken products, including pre-marinated or non-marinated refrigerated (nonfrozen) whole or cut-up chicken; and prepackaged case-ready chicken, such as whole chickens and chicken parts.

Want to see what other hedge funds are holding PPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pilgrim’s Pride Co. (NASDAQ:PPC).

Institutional Ownership by Quarter for Pilgrim`s Pride (NASDAQ:PPC)

Receive News & Ratings for Pilgrim's Pride Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pilgrim's Pride and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply