Deutsche Bank AG Has $2.16 Million Stock Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

Deutsche Bank AG reduced its holdings in Pilgrim’s Pride Co. (NASDAQ:PPC) by 61.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 47,677 shares of the company’s stock after selling 74,547 shares during the quarter. Deutsche Bank AG’s holdings in Pilgrim’s Pride were worth $2,164,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Accredited Wealth Management LLC acquired a new stake in shares of Pilgrim’s Pride in the 4th quarter valued at about $41,000. R Squared Ltd acquired a new position in Pilgrim’s Pride during the 4th quarter worth approximately $59,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Pilgrim’s Pride in the fourth quarter worth approximately $118,000. US Bancorp DE boosted its holdings in Pilgrim’s Pride by 23.3% in the fourth quarter. US Bancorp DE now owns 3,445 shares of the company’s stock worth $156,000 after acquiring an additional 650 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in Pilgrim’s Pride by 19.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,642 shares of the company’s stock valued at $165,000 after acquiring an additional 593 shares during the period. 16.64% of the stock is owned by institutional investors and hedge funds.

Pilgrim’s Pride Stock Performance

Shares of PPC opened at $49.19 on Friday. The firm has a market capitalization of $11.66 billion, a P/E ratio of 10.79 and a beta of 0.51. Pilgrim’s Pride Co. has a 52 week low of $33.70 and a 52 week high of $57.16. The stock has a 50 day moving average price of $50.87 and a two-hundred day moving average price of $50.16. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.31 and a current ratio of 2.01.

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

Pilgrim’s Pride Increases Dividend

The business also recently disclosed a special dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 3rd were paid a dividend of $6.30 per share. The ex-dividend date was Thursday, April 3rd. This is a boost from Pilgrim’s Pride’s previous special dividend of $2.75.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Santander started coverage on Pilgrim’s Pride in a research report on Wednesday, March 5th. They set a “neutral” rating on the stock. Wall Street Zen downgraded shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, BMO Capital Markets boosted their price target on shares of Pilgrim’s Pride from $47.00 to $48.00 and gave the company a “market perform” rating in a research note on Monday, March 17th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $48.40.

Pilgrim’s Pride Company 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.