AXQ Capital LP Raises Holdings in Pilgrim’s Pride Corporation $PPC

AXQ Capital LP lifted its stake in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 141.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,536 shares of the company’s stock after purchasing an additional 16,111 shares during the quarter. AXQ Capital LP’s holdings in Pilgrim’s Pride were worth $1,121,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC increased its stake in Pilgrim’s Pride by 1,248.5% during the 3rd quarter. True Wealth Design LLC now owns 917 shares of the company’s stock valued at $37,000 after purchasing an additional 849 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of Pilgrim’s Pride during the third quarter worth $41,000. Clearstead Advisors LLC grew its holdings in shares of Pilgrim’s Pride by 1,522.6% during the third quarter. Clearstead Advisors LLC now owns 1,006 shares of the company’s stock valued at $41,000 after buying an additional 944 shares during the last quarter. Quent Capital LLC purchased a new stake in shares of Pilgrim’s Pride during the third quarter valued at $55,000. Finally, Cullen Frost Bankers Inc. increased its position in shares of Pilgrim’s Pride by 18.2% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,566 shares of the company’s stock valued at $70,000 after acquiring an additional 241 shares during the period. 16.64% of the stock is currently owned by institutional investors and hedge funds.

Pilgrim’s Pride Stock Performance

NASDAQ PPC opened at $40.99 on Tuesday. The stock has a market capitalization of $9.74 billion, a price-to-earnings ratio of 9.03 and a beta of 0.43. The stock has a 50-day moving average of $41.24 and a 200 day moving average of $40.95. The company has a current ratio of 1.47, a quick ratio of 0.76 and a debt-to-equity ratio of 0.84. Pilgrim’s Pride Corporation has a twelve month low of $35.73 and a twelve month high of $56.88.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.14). The business had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.39 billion. Pilgrim’s Pride had a net margin of 5.85% and a return on equity of 35.15%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.35 earnings per share. Sell-side analysts anticipate that Pilgrim’s Pride Corporation will post 5.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wall Street Zen cut Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research report on Sunday, February 15th. Santander raised Pilgrim’s Pride from a “neutral” rating to an “outperform” rating in a report on Thursday, December 11th. Zacks Research lowered Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 11th. BMO Capital Markets raised their price target on shares of Pilgrim’s Pride from $40.00 to $42.00 and gave the stock a “market perform” rating in a research report on Friday, February 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pilgrim’s Pride in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $44.33.

Pilgrim’s Pride Company Profile

Pilgrim’s Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim’s Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.

The company’s vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.