Rubric Capital Management LP bought a new stake in Pilgrim’s Pride Corporation (NASDAQ:PPC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 280,000 shares of the company’s stock, valued at approximately $6,138,000. Pilgrim’s Pride Corporation accounts for about 1.3% of Rubric Capital Management LP’s investment portfolio, making the stock its 29th largest position.

A number of other large investors have also bought and sold shares of PPC. Dimensional Fund Advisors LP boosted its stake in Pilgrim’s Pride Corporation by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 721,529 shares of the company’s stock valued at $13,702,000 after buying an additional 5,381 shares during the period. CrestPoint Capital Management LLC acquired a new stake in Pilgrim’s Pride Corporation during the first quarter valued at about $329,000. Americafirst Capital Management LLC acquired a new stake in Pilgrim’s Pride Corporation during the first quarter valued at about $519,000. Clark Estates Inc. NY boosted its stake in Pilgrim’s Pride Corporation by 18.3% in the first quarter. Clark Estates Inc. NY now owns 142,000 shares of the company’s stock valued at $3,196,000 after buying an additional 22,000 shares during the period. Finally, Personal Capital Advisors Corp acquired a new stake in Pilgrim’s Pride Corporation during the first quarter valued at about $11,410,000. 26.30% of the stock is owned by institutional investors.

Pilgrim’s Pride Corporation (PPC) opened at 26.94 on Friday. Pilgrim’s Pride Corporation has a 12-month low of $17.15 and a 12-month high of $26.96. The stock has a market capitalization of $6.70 billion, a price-to-earnings ratio of 13.59 and a beta of 0.19. The company has a 50-day moving average price of $23.25 and a 200-day moving average price of $22.64.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. Pilgrim’s Pride Corporation had a net margin of 6.05% and a return on equity of 49.65%. The firm had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the prior year, the company earned $0.60 EPS. The firm’s revenue was up 11.0% on a year-over-year basis. On average, equities research analysts forecast that Pilgrim’s Pride Corporation will post $2.45 earnings per share for the current year.

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Several equities research analysts have issued reports on PPC shares. Vertical Research raised Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a research note on Friday, April 21st. They noted that the move was a valuation call. Vertical Group raised Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a research note on Monday, April 24th. BMO Capital Markets reissued a “hold” rating and set a $24.00 target price on shares of Pilgrim’s Pride Corporation in a research note on Tuesday, May 16th. Zacks Investment Research cut Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a research note on Friday, May 19th. Finally, BidaskClub cut Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $24.50.

Pilgrim’s Pride Corporation Company Profile

Pilgrim’s Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It 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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Institutional Ownership by Quarter for Pilgrim`s Pride Corporation (NASDAQ:PPC)

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