Nuveen LLC Buys Shares of 209,688 Pilgrim’s Pride Corporation $PPC

Nuveen LLC bought a new stake in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 209,688 shares of the company’s stock, valued at approximately $11,430,000. Nuveen LLC owned about 0.09% of Pilgrim’s Pride as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of PPC. Point72 Asset Management L.P. grew its holdings in Pilgrim’s Pride by 102.0% during the 4th quarter. Point72 Asset Management L.P. now owns 16,381 shares of the company’s stock valued at $744,000 after buying an additional 827,381 shares during the last quarter. AQR Capital Management LLC grew its holdings in Pilgrim’s Pride by 44.1% during the 4th quarter. AQR Capital Management LLC now owns 1,883,708 shares of the company’s stock valued at $85,502,000 after buying an additional 576,438 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Pilgrim’s Pride by 26.8% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,845,480 shares of the company’s stock valued at $83,766,000 after buying an additional 389,967 shares during the last quarter. Assetmark Inc. grew its holdings in Pilgrim’s Pride by 26.1% during the 1st quarter. Assetmark Inc. now owns 1,070,893 shares of the company’s stock valued at $58,374,000 after buying an additional 221,617 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Pilgrim’s Pride by 6,367.0% during the 1st quarter. GAMMA Investing LLC now owns 173,832 shares of the company’s stock valued at $9,476,000 after buying an additional 171,144 shares during the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Trading Down 2.3%

Shares of PPC opened at $46.16 on Friday. The company has a current ratio of 1.63, a quick ratio of 0.88 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $10.97 billion, a P/E ratio of 8.89 and a beta of 0.50. The stock’s fifty day simple moving average is $46.71 and its 200 day simple moving average is $49.41. Pilgrim’s Pride Corporation has a twelve month low of $40.09 and a twelve month high of $57.16.

Pilgrim’s Pride (NASDAQ:PPC) last issued its earnings results on Wednesday, July 30th. The company reported $1.70 earnings per share 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 return on equity of 37.15% and a net margin of 6.81%.The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the company posted $1.67 EPS. On average, equities research analysts forecast that Pilgrim’s Pride Corporation will post 5.13 earnings per share for the current year.

Pilgrim’s Pride Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PPC. The Goldman Sachs Group began coverage on 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. Wall Street Zen lowered Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 18th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Pilgrim’s Pride currently has an average rating of “Hold” and a consensus price target of $49.00.

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.