Martingale Asset Management L P Purchases 2,548 Shares of Pilgrim’s Pride Corporation $PPC

Martingale Asset Management L P increased its position in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 1.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 231,962 shares of the company’s stock after buying an additional 2,548 shares during the period. Martingale Asset Management L P owned 0.10% of Pilgrim’s Pride worth $12,644,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group increased its stake in shares of Pilgrim’s Pride by 309.4% during the 1st quarter. Brooklyn Investment Group now owns 651 shares of the company’s stock worth $35,000 after purchasing an additional 492 shares during the last quarter. Accredited Wealth Management LLC bought a new position in Pilgrim’s Pride during the fourth quarter worth about $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Pilgrim’s Pride during the fourth quarter worth approximately $55,000. Raleigh Capital Management Inc. bought a new stake in Pilgrim’s Pride in the first quarter valued at approximately $74,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Pilgrim’s Pride by 46.7% in the first quarter. PNC Financial Services Group Inc. now owns 1,386 shares of the company’s stock valued at $76,000 after buying an additional 441 shares during the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PPC shares. Wall Street Zen downgraded Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 18th. The Goldman Sachs Group began coverage on shares of Pilgrim’s Pride in a research report on Monday, June 23rd. They set a “neutral” rating and a $50.00 price objective for the company. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $49.00.

Pilgrim’s Pride Stock Down 1.3%

PPC stock opened at $47.18 on Thursday. Pilgrim’s Pride Corporation has a fifty-two week low of $40.09 and a fifty-two week high of $57.16. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.63 and a quick ratio of 0.88. The stock has a market capitalization of $11.21 billion, a price-to-earnings ratio of 9.09 and a beta of 0.50. The business’s fifty day moving average price is $46.68 and its two-hundred day moving average price is $49.42.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.54 by $0.16. Pilgrim’s Pride had a net margin of 6.81% and a return on equity of 37.15%. The business had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.62 billion. During the same period in the prior year, the company posted $1.67 earnings per share. Pilgrim’s Pride’s revenue was up 4.3% compared to the same quarter last year. On average, equities analysts anticipate that Pilgrim’s Pride Corporation will post 5.13 earnings per share for the current year.

Pilgrim’s Pride Announces Dividend

The business also recently declared a dividend, which will be paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th will be paid a $2.10 dividend. The ex-dividend date is Wednesday, August 20th.

Pilgrim’s Pride Profile

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.