Prudential Financial Inc. boosted its stake in Pilgrim’s Pride Corp. (NASDAQ:PPC) by 4,399.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,015,775 shares of the company’s stock after buying an additional 993,200 shares during the period. Prudential Financial Inc. owned 0.40% of Pilgrim’s Pride Corp. worth $25,883,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PPC. Legal & General Group Plc raised its position in 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. AXA bought a new position in Pilgrim’s Pride Corp. during the first quarter valued at $10,630,000. Zebra Capital Management LLC raised its position in Pilgrim’s Pride Corp. by 30.5% in the first quarter. Zebra Capital Management LLC now owns 62,770 shares of the company’s stock valued at $1,594,000 after buying an additional 14,658 shares during the period. Credit Agricole S A raised its position in 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. Finally, C M Bidwell & Associates Ltd. bought a new position in Pilgrim’s Pride Corp. during the first quarter valued at $1,570,000. Institutional investors and hedge funds own 27.17% of the company’s stock.

Shares of Pilgrim’s Pride Corp. (NASDAQ:PPC) traded down 0.14% during midday trading on Friday, hitting $21.17. The stock had a trading volume of 87,119 shares. Pilgrim’s Pride Corp. has a 1-year low of $17.39 and a 1-year high of $27.79. The firm has a market capitalization of $5.39 billion, a PE ratio of 11.49 and a beta of 0.01. The company’s 50 day moving average price is $22.55 and its 200-day moving average price is $24.35.

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. Equities analysts predict that Pilgrim’s Pride Corp. will post $1.98 earnings per share for the current year.

Several equities analysts have weighed in on PPC shares. Zacks Investment Research upgraded Pilgrim’s Pride Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, September 14th. BMO Capital Markets lowered Pilgrim’s Pride Corp. from an “outperform” rating to a “market perform” rating and cut their target price for the company from $29.00 to $27.00 in a report on Monday, June 6th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Pilgrim’s Pride Corp. presently has an average rating of “Hold” and a consensus target price of $27.11.

Pilgrim’s Pride Corp. Company Profile

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.

5 Day Chart for NASDAQ:PPC

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