Brandywine Global Investment Management LLC Takes $3.91 Million Position in Pilgrim’s Pride Corporation $PPC

Brandywine Global Investment Management LLC acquired a new stake in Pilgrim’s Pride Corporation (NASDAQ:PPC) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 86,965 shares of the company’s stock, valued at approximately $3,912,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PPC. Brooklyn Investment Group boosted its holdings in Pilgrim’s Pride by 309.4% in the 1st quarter. Brooklyn Investment Group now owns 651 shares of the company’s stock valued at $35,000 after purchasing an additional 492 shares during the period. Quarry LP purchased a new stake in shares of Pilgrim’s Pride in the first quarter worth $43,000. Ameritas Advisory Services LLC bought a new stake in Pilgrim’s Pride during the second quarter valued at $45,000. Caitong International Asset Management Co. Ltd grew its position in Pilgrim’s Pride by 117.5% during the second quarter. Caitong International Asset Management Co. Ltd now owns 1,231 shares of the company’s stock worth $55,000 after buying an additional 665 shares in the last quarter. Finally, Rosenberg Matthew Hamilton purchased a new position in Pilgrim’s Pride during the second quarter worth about $62,000. Institutional investors own 16.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PPC. Wall Street Zen cut Pilgrim’s Pride from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. The Goldman Sachs Group lowered their target price on shares of Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Pilgrim’s Pride in a research note on Wednesday. Finally, Zacks Research upgraded shares of Pilgrim’s Pride from a “strong sell” rating to a “hold” rating in a research report on Friday, November 7th. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $47.00.

Pilgrim’s Pride Stock Up 3.2%

Shares of PPC opened at $38.80 on Monday. 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. The stock has a 50 day simple moving average of $38.80 and a two-hundred day simple moving average of $43.88. The firm has a market cap of $9.22 billion, a P/E ratio of 7.52 and a beta of 0.48.

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

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.