Bayforest Capital Ltd Has $487,000 Stock Holdings in Pilgrim’s Pride Corporation $PPC

Bayforest Capital Ltd grew its stake in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 6.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 10,820 shares of the company’s stock after acquiring an additional 686 shares during the quarter. Bayforest Capital Ltd’s holdings in Pilgrim’s Pride were worth $487,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group lifted its stake in Pilgrim’s Pride by 309.4% during the first quarter. Brooklyn Investment Group now owns 651 shares of the company’s stock valued at $35,000 after buying an additional 492 shares in the last quarter. Quarry LP acquired a new stake in shares of Pilgrim’s Pride during the first quarter valued at approximately $43,000. Ameritas Advisory Services LLC purchased a new stake in shares of Pilgrim’s Pride in the 2nd quarter valued at approximately $45,000. Raleigh Capital Management Inc. acquired a new position in Pilgrim’s Pride in the 1st quarter worth approximately $74,000. Finally, Parallel Advisors LLC grew its position in Pilgrim’s Pride by 15.7% during the 2nd quarter. Parallel Advisors LLC now owns 1,655 shares of the company’s stock worth $74,000 after purchasing an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wall Street Zen lowered Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Pilgrim’s Pride in a research report on Wednesday, October 8th. The Goldman Sachs Group decreased their price objective on Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Zacks Research downgraded Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a report on Thursday, October 9th. Five equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Pilgrim’s Pride presently has a consensus rating of “Reduce” and an average target price of $47.67.

Pilgrim’s Pride Price Performance

PPC opened at $38.07 on Wednesday. The stock has a fifty day moving average price of $43.60 and a 200 day moving average price of $46.73. The company has a current ratio of 1.63, a quick ratio of 0.88 and a debt-to-equity ratio of 0.83. Pilgrim’s Pride Corporation has a 1 year low of $37.03 and a 1 year high of $57.16. The stock has a market cap of $9.04 billion, a price-to-earnings ratio of 7.34 and a beta of 0.45.

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. Pilgrim’s Pride had a return on equity of 37.15% and a net margin of 6.81%.The company had revenue of $4.76 billion for the quarter, compared to analyst estimates of $4.62 billion. During the same period in the prior year, the firm posted $1.67 EPS. The business’s revenue was up 4.3% compared to the same quarter last year. Analysts forecast that Pilgrim’s Pride Corporation will post 5.13 EPS for the current fiscal year.

Pilgrim’s Pride Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Wednesday, September 3rd. Investors of record on Wednesday, August 20th were given a dividend of $2.10 per share. 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.