Aristeia Capital L.L.C. Sells 6,912 Shares of Pilgrim’s Pride Corporation $PPC

Aristeia Capital L.L.C. lowered its position in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 45.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,402 shares of the company’s stock after selling 6,912 shares during the period. Aristeia Capital L.L.C.’s holdings in Pilgrim’s Pride were worth $458,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. grew its position in Pilgrim’s Pride by 0.3% during the 1st quarter. Principal Financial Group Inc. now owns 93,044 shares of the company’s stock worth $5,072,000 after acquiring an additional 290 shares during the last quarter. Comerica Bank grew its position in shares of Pilgrim’s Pride by 2.9% in the 1st quarter. Comerica Bank now owns 12,359 shares of the company’s stock valued at $674,000 after buying an additional 345 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Pilgrim’s Pride by 10.6% in the 1st quarter. Fifth Third Bancorp now owns 3,747 shares of the company’s stock valued at $204,000 after buying an additional 358 shares during the last quarter. Jackson Creek Investment Advisors LLC grew its position in shares of Pilgrim’s Pride by 1.9% in the 1st quarter. Jackson Creek Investment Advisors LLC now owns 20,417 shares of the company’s stock valued at $1,113,000 after buying an additional 381 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Pilgrim’s Pride by 46.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,386 shares of the company’s stock valued at $76,000 after buying an additional 441 shares during the last quarter. Institutional investors own 16.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wall Street Zen upgraded Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research report on Friday. The Goldman Sachs Group assumed coverage on Pilgrim’s Pride in a research report on Monday, June 23rd. They issued a “neutral” rating and a $50.00 price target on the stock. Five research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $47.50.

Pilgrim’s Pride Stock Down 0.1%

Shares of NASDAQ:PPC opened at $44.29 on Monday. The company has a market capitalization of $10.52 billion, a price-to-earnings ratio of 8.53 and a beta of 0.50. 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 business’s 50-day moving average is $46.47 and its 200-day moving average is $48.88. Pilgrim’s Pride Corporation has a 1 year low of $40.09 and a 1 year high of $57.16.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.16. The company had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.62 billion. Pilgrim’s Pride had a return on equity of 37.15% and a net margin of 6.81%.The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.67 EPS. Equities research analysts predict that Pilgrim’s Pride Corporation will post 5.13 earnings per share for the current year.

Pilgrim’s Pride Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th were paid a $2.10 dividend. The ex-dividend date of this dividend was Wednesday, August 20th.

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.