Pilgrim’s Pride Corporation $PPC Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its holdings in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 46.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,386 shares of the company’s stock after buying an additional 441 shares during the period. PNC Financial Services Group Inc.’s holdings in Pilgrim’s Pride were worth $76,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PPC. Wells Fargo & Company MN raised its stake in Pilgrim’s Pride by 7.8% during the 4th quarter. Wells Fargo & Company MN now owns 25,926 shares of the company’s stock valued at $1,177,000 after acquiring an additional 1,876 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Pilgrim’s Pride during the fourth quarter worth approximately $2,664,000. Mariner LLC raised its stake in shares of Pilgrim’s Pride by 60.6% during the fourth quarter. Mariner LLC now owns 32,454 shares of the company’s stock worth $1,473,000 after purchasing an additional 12,244 shares during the last quarter. Guggenheim Capital LLC lifted its holdings in shares of Pilgrim’s Pride by 38.2% during the fourth quarter. Guggenheim Capital LLC now owns 16,530 shares of the company’s stock worth $750,000 after purchasing an additional 4,569 shares during the period. Finally, MetLife Investment Management LLC grew its position in Pilgrim’s Pride by 9.0% in the 4th quarter. MetLife Investment Management LLC now owns 22,908 shares of the company’s stock valued at $1,040,000 after buying an additional 1,883 shares during the last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Down 1.3%

Pilgrim’s Pride 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 firm has a market capitalization of $11.21 billion, a price-to-earnings ratio of 9.09 and a beta of 0.50. The stock’s fifty day moving average is $46.68 and its two-hundred day moving average is $49.42. 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 (NASDAQ:PPC) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.54 by $0.16. The business had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.62 billion. Pilgrim’s Pride had a net margin of 6.81% and a return on equity of 37.15%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.67 EPS. Analysts predict that Pilgrim’s Pride Corporation will post 5.13 EPS for the current fiscal year.

Pilgrim’s Pride Announces Dividend

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

Wall Street Analyst Weigh In

PPC has been the topic of several recent research reports. Wall Street Zen cut shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 18th. The Goldman Sachs Group assumed coverage on shares of Pilgrim’s Pride in a research note on Monday, June 23rd. They set a “neutral” rating and a $50.00 price target on the stock. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $49.00.

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.