Pilgrim’s Pride Co. (NASDAQ:PPC) Shares Acquired by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. increased its stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 26.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,845,480 shares of the company’s stock after purchasing an additional 389,967 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.78% of Pilgrim’s Pride worth $83,766,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PPC. Accredited Wealth Management LLC purchased a new position in Pilgrim’s Pride in the 4th quarter valued at approximately $41,000. R Squared Ltd acquired a new position in shares of Pilgrim’s Pride during the fourth quarter worth $59,000. Harbor Capital Advisors Inc. increased its holdings in Pilgrim’s Pride by 132.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 1,344 shares of the company’s stock valued at $61,000 after buying an additional 765 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Pilgrim’s Pride in the fourth quarter valued at $118,000. Finally, US Bancorp DE lifted its holdings in Pilgrim’s Pride by 23.3% during the 4th quarter. US Bancorp DE now owns 3,445 shares of the company’s stock worth $156,000 after buying an additional 650 shares during the last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Down 0.5 %

PPC stock opened at $47.07 on Friday. The company has a market cap of $11.16 billion, a price-to-earnings ratio of 10.32 and a beta of 0.51. The company has a fifty day moving average price of $51.59 and a 200 day moving average price of $50.17. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.01 and a quick ratio of 1.31. Pilgrim’s Pride Co. has a 12 month low of $33.70 and a 12 month high of $57.16.

Pilgrim’s Pride (NASDAQ:PPC) last announced its earnings results on Wednesday, April 30th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.05. Pilgrim’s Pride had a net margin of 6.08% and a return on equity of 32.83%. The business had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same quarter in the prior year, the firm earned $0.77 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. Sell-side analysts expect that Pilgrim’s Pride Co. will post 5.13 earnings per share for the current year.

Pilgrim’s Pride Increases Dividend

The business also recently announced a special dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd were issued a $6.30 dividend. The ex-dividend date was Thursday, April 3rd. This is a positive change from Pilgrim’s Pride’s previous special dividend of $2.75.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. BMO Capital Markets increased their price objective on Pilgrim’s Pride from $47.00 to $48.00 and gave the company a “market perform” rating in a report on Monday, March 17th. Santander initiated coverage on shares of Pilgrim’s Pride in a report on Wednesday, March 5th. They set a “neutral” rating on the stock. Finally, StockNews.com upgraded shares of Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 5th. Five analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Pilgrim’s Pride has an average rating of “Hold” and an average price target of $48.40.

About Pilgrim’s Pride

Pilgrim’s Pride Corp. engages in the production, processing, marketing, and distribution of fresh, frozen and value-added chicken and pork products to retailers, distributors, and foodservice operators. It operates through the following segments: U.S., U.K. and Europe, and Mexico. The company was founded by Lonnie A.