Zurcher Kantonalbank Zurich Cantonalbank Grows Position in Pilgrim’s Pride Corporation (NASDAQ:PPC)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 16.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,178 shares of the company’s stock after purchasing an additional 2,193 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Pilgrim’s Pride were worth $827,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PPC. Principal Financial Group Inc. lifted its stake in Pilgrim’s Pride by 0.3% during the first quarter. Principal Financial Group Inc. now owns 93,044 shares of the company’s stock worth $5,072,000 after purchasing an additional 290 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Pilgrim’s Pride by 10.6% during the 1st quarter. Fifth Third Bancorp now owns 3,747 shares of the company’s stock valued at $204,000 after buying an additional 358 shares in the last quarter. Jackson Creek Investment Advisors LLC lifted its position in Pilgrim’s Pride by 1.9% in the 1st quarter. Jackson Creek Investment Advisors LLC now owns 20,417 shares of the company’s stock worth $1,113,000 after buying an additional 381 shares during the last quarter. GAMMA Investing LLC boosted its stake in Pilgrim’s Pride by 18.6% in the first quarter. GAMMA Investing LLC now owns 3,189 shares of the company’s stock worth $174,000 after buying an additional 501 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Pilgrim’s Pride by 28.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,311 shares of the company’s stock valued at $177,000 after acquiring an additional 742 shares during the last quarter. 16.64% of the stock is currently owned by institutional investors.

Pilgrim’s Pride Price Performance

Shares of PPC stock opened at $48.96 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.88 and a current ratio of 1.63. Pilgrim’s Pride Corporation has a fifty-two week low of $40.09 and a fifty-two week high of $57.16. The firm has a market cap of $11.63 billion, a P/E ratio of 9.43 and a beta of 0.50. The business’s 50 day moving average price is $46.41 and its 200-day moving average price is $49.23.

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on PPC. Wall Street Zen lowered shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Friday, July 18th. The Goldman Sachs Group started 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 target for the company. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Pilgrim’s Pride has a consensus rating of “Hold” and an average target price of $48.67.

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.