Aviva PLC Purchases Shares of 11,428 Pilgrim’s Pride Corporation $PPC

Aviva PLC acquired a new position in Pilgrim’s Pride Corporation (NASDAQ:PPC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,428 shares of the company’s stock, valued at approximately $514,000.

Other hedge funds have also recently made changes to their positions in the company. Range Financial Group LLC grew its stake in shares of Pilgrim’s Pride by 26.5% in the second quarter. Range Financial Group LLC now owns 29,027 shares of the company’s stock valued at $1,306,000 after buying an additional 6,073 shares in the last quarter. Viking Fund Management LLC boosted its holdings in Pilgrim’s Pride by 1,370.6% during the 2nd quarter. Viking Fund Management LLC now owns 50,000 shares of the company’s stock valued at $2,249,000 after acquiring an additional 46,600 shares during the period. LPL Financial LLC grew its position in Pilgrim’s Pride by 135.2% in the 1st quarter. LPL Financial LLC now owns 98,394 shares of the company’s stock valued at $5,363,000 after acquiring an additional 56,568 shares in the last quarter. Dark Forest Capital Management LP grew its position in Pilgrim’s Pride by 129.6% in the 1st quarter. Dark Forest Capital Management LP now owns 62,920 shares of the company’s stock valued at $3,430,000 after acquiring an additional 35,512 shares in the last quarter. Finally, Beacon Harbor Wealth Advisors Inc. purchased a new stake in Pilgrim’s Pride during the first quarter worth about $6,243,000. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Down 0.8%

Shares of NASDAQ PPC opened at $37.65 on Friday. The business has a 50-day moving average of $39.55 and a two-hundred day moving average of $44.44. The company has a market capitalization of $8.94 billion, a price-to-earnings ratio of 7.30 and a beta of 0.48. Pilgrim’s Pride Corporation has a 1 year low of $35.73 and a 1 year high of $57.16. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.63 and a quick ratio of 0.88.

Pilgrim’s Pride (NASDAQ:PPC) last issued its earnings results on Wednesday, October 29th. The company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.11. The business had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.65 billion. Pilgrim’s Pride had a return on equity of 37.75% and a net margin of 6.70%.The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company earned $1.63 EPS. On average, analysts forecast that Pilgrim’s Pride Corporation will post 5.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PPC shares. Wall Street Zen cut shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Zacks Research raised shares of Pilgrim’s Pride from a “strong sell” rating to a “hold” rating in a research report on Friday, November 7th. The Goldman Sachs Group cut their price objective on Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Finally, Weiss Ratings cut Pilgrim’s Pride from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, November 7th. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Pilgrim’s Pride has a consensus rating of “Hold” and a consensus target price of $47.00.

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.