RHS Financial LLC Sells 303 Shares of Pilgrim’s Pride Corporation $PPC

RHS Financial LLC trimmed its stake in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 3.0% during the second quarter, Holdings Channel reports. The fund owned 9,824 shares of the company’s stock after selling 303 shares during the quarter. RHS Financial LLC’s holdings in Pilgrim’s Pride were worth $442,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Brooklyn Investment Group raised its stake in shares of Pilgrim’s Pride by 309.4% in the 1st quarter. Brooklyn Investment Group now owns 651 shares of the company’s stock valued at $35,000 after acquiring an additional 492 shares in the last quarter. Quarry LP bought a new position in shares of Pilgrim’s Pride in the 1st quarter valued at approximately $43,000. Ameritas Advisory Services LLC bought a new position in shares of Pilgrim’s Pride in the 2nd quarter valued at approximately $45,000. Raleigh Capital Management Inc. bought a new position in shares of Pilgrim’s Pride in the 1st quarter valued at approximately $74,000. Finally, PNC Financial Services Group Inc. increased its position in Pilgrim’s Pride by 46.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,386 shares of the company’s stock worth $76,000 after buying an additional 441 shares during the period. 16.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PPC has been the topic of several recent analyst reports. Zacks Research downgraded Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a research report on Thursday. The Goldman Sachs Group initiated coverage on Pilgrim’s Pride in a research report on Monday, June 23rd. They issued a “neutral” rating and a $50.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Pilgrim’s Pride in a research report on Wednesday, October 8th. Finally, Wall Street Zen downgraded Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 13th. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Pilgrim’s Pride currently has a consensus rating of “Reduce” and a consensus price target of $49.00.

Pilgrim’s Pride Stock Performance

PPC opened at $38.81 on Monday. The stock has a market cap of $9.22 billion, a PE ratio of 7.48 and a beta of 0.45. The company has a current ratio of 1.63, a quick ratio of 0.88 and a debt-to-equity ratio of 0.83. Pilgrim’s Pride Corporation has a 1 year low of $37.03 and a 1 year high of $57.16. The stock’s 50 day simple moving average is $44.04 and its 200-day simple moving average is $46.90.

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

Pilgrim’s Pride Announces Dividend

The company also recently disclosed a special dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th were given a dividend of $2.10 per share. The ex-dividend date was Wednesday, August 20th.

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.