Los Angeles Capital Management & Equity Research Inc. increased its stake in Pilgrim’s Pride Corp. (NASDAQ:PPC) by 44.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,350 shares of the company’s stock after buying an additional 8,400 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Pilgrim’s Pride Corp. were worth $697,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in PPC. Legal & General Group Plc boosted its stake in shares of Pilgrim’s Pride Corp. by 3.4% in the first quarter. Legal & General Group Plc now owns 4,950 shares of the company’s stock valued at $126,000 after buying an additional 162 shares during the period. First Quadrant L P CA boosted its stake in shares of Pilgrim’s Pride Corp. by 0.3% in the second quarter. First Quadrant L P CA now owns 75,905 shares of the company’s stock valued at $1,934,000 after buying an additional 205 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of Pilgrim’s Pride Corp. by 11.5% in the second quarter. BNP Paribas Arbitrage SA now owns 8,886 shares of the company’s stock valued at $226,000 after buying an additional 920 shares during the period. Squarepoint Ops LLC boosted its stake in shares of Pilgrim’s Pride Corp. by 11.1% in the first quarter. Squarepoint Ops LLC now owns 11,000 shares of the company’s stock valued at $279,000 after buying an additional 1,100 shares during the period. Finally, Credit Agricole S A boosted its stake in shares of Pilgrim’s Pride Corp. by 4.8% in the first quarter. Credit Agricole S A now owns 76,600 shares of the company’s stock valued at $1,946,000 after buying an additional 3,500 shares during the period. 27.17% of the stock is owned by institutional investors and hedge funds.

Pilgrim’s Pride Corp. (NASDAQ:PPC) traded down 0.09% during trading on Wednesday, reaching $21.17. The company’s stock had a trading volume of 703,687 shares. The company’s 50 day moving average price is $22.65 and its 200 day moving average price is $24.40. The company has a market cap of $5.39 billion, a P/E ratio of 11.49 and a beta of 0.01. Pilgrim’s Pride Corp. has a 52 week low of $17.39 and a 52 week high of $27.79.

Pilgrim’s Pride Corp. (NASDAQ:PPC) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by $0.06. Pilgrim’s Pride Corp. had a net margin of 5.85% and a return on equity of 40.35%. The firm earned $2.03 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period last year, the firm earned $0.94 EPS. Pilgrim’s Pride Corp.’s quarterly revenue was down 1.3% on a year-over-year basis. On average, equities analysts anticipate that Pilgrim’s Pride Corp. will post $2.00 earnings per share for the current fiscal year.

Several brokerages have recently commented on PPC. Zacks Investment Research raised Pilgrim’s Pride Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, September 14th. BMO Capital Markets reiterated a “hold” rating and set a $27.00 price objective on shares of Pilgrim’s Pride Corp. in a report on Friday, July 29th. Deutsche Bank AG lowered Pilgrim’s Pride Corp. from a “buy” rating to a “hold” rating and set a $30.55 price objective for the company. in a report on Wednesday, May 25th. Finally, BB&T Corp. lowered Pilgrim’s Pride Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, May 25th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Pilgrim’s Pride Corp. presently has a consensus rating of “Hold” and a consensus price target of $27.11.

About Pilgrim’s Pride Corp.

Pilgrim’s Pride Corporation (Pilgrim’s) is a retail food store. The Company is a producer and seller of chicken products with operations in the United States, Mexico and Puerto Rico. The Company is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.

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