Hennessy Advisors Inc. Has $6.92 Million Stake in Pilgrim’s Pride Corporation $PPC

Hennessy Advisors Inc. decreased its holdings in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 7.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 170,000 shares of the company’s stock after selling 13,500 shares during the quarter. Hennessy Advisors Inc. owned about 0.07% of Pilgrim’s Pride worth $6,922,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of Pilgrim’s Pride during the 1st quarter valued at about $43,000. Ameritas Advisory Services LLC acquired a new stake in shares of Pilgrim’s Pride in the 2nd quarter valued at $45,000. Caitong International Asset Management Co. Ltd increased its position 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. Rosenberg Matthew Hamilton bought a new stake in shares of Pilgrim’s Pride during the second quarter worth approximately $62,000. Finally, Cullen Frost Bankers Inc. grew its stake in shares of Pilgrim’s Pride by 18.2% during the second 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. 16.64% of the stock is owned by institutional investors.

Pilgrim’s Pride Stock Down 1.7%

Shares of PPC opened at $38.99 on Friday. The stock’s 50-day moving average price is $38.46 and its two-hundred day moving average price is $42.16. Pilgrim’s Pride Corporation has a 12 month low of $35.73 and a 12 month high of $57.16. The company has a market capitalization of $9.26 billion, a PE ratio of 7.56 and a beta of 0.43. The company has a current ratio of 1.51, a quick ratio of 0.78 and a debt-to-equity ratio of 0.87.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. Pilgrim’s Pride had a net margin of 6.70% and a return on equity of 38.17%. The business had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the prior year, the firm posted $1.63 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, analysts anticipate that Pilgrim’s Pride Corporation will post 5.13 EPS for the current year.

Wall Street Analysts Forecast Growth

PPC has been the subject of a number of research reports. Zacks Research raised Pilgrim’s Pride from a “strong sell” rating to a “hold” rating in a research note on Friday, November 7th. Santander upgraded shares of Pilgrim’s Pride from a “neutral” rating to an “outperform” rating in a research note on Thursday, December 11th. Wall Street Zen raised shares of Pilgrim’s Pride from a “hold” rating to a “buy” rating in a research report on Friday, November 28th. The Goldman Sachs Group lowered their target price on Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Finally, Barclays dropped their target price on Pilgrim’s Pride from $49.00 to $45.00 and set an “equal weight” rating for the company in a report on Tuesday, December 9th. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $46.33.

Pilgrim’s Pride Company Profile

Pilgrim’s Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim’s Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.

The company’s vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.