IFP Advisors Inc Has $373,000 Stock Holdings in Pilgrim’s Pride Corporation $PPC

IFP Advisors Inc boosted its holdings in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 17.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,292 shares of the company’s stock after buying an additional 1,216 shares during the period. IFP Advisors Inc’s holdings in Pilgrim’s Pride were worth $373,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in shares of Pilgrim’s Pride by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,903,586 shares of the company’s stock valued at $158,261,000 after purchasing an additional 29,549 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Pilgrim’s Pride by 25.9% in the first quarter. AQR Capital Management LLC now owns 2,370,927 shares of the company’s stock valued at $128,599,000 after purchasing an additional 487,219 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Pilgrim’s Pride by 15.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,243,039 shares of the company’s stock valued at $67,758,000 after purchasing an additional 166,967 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Pilgrim’s Pride by 26.1% in the first quarter. Assetmark Inc. now owns 1,070,893 shares of the company’s stock valued at $58,374,000 after purchasing an additional 221,617 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Pilgrim’s Pride by 77.0% in the first quarter. Cubist Systematic Strategies LLC now owns 785,098 shares of the company’s stock valued at $42,796,000 after purchasing an additional 341,517 shares during the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Price Performance

Shares of NASDAQ:PPC opened at $38.14 on Thursday. The company has a quick ratio of 0.88, a current ratio of 1.63 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $9.06 billion, a PE ratio of 7.35 and a beta of 0.45. Pilgrim’s Pride Corporation has a twelve month low of $37.03 and a twelve month high of $57.16. The company has a 50-day moving average price of $43.37 and a two-hundred day moving average price of $46.67.

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 analysts’ consensus estimates of $1.54 by $0.16. The firm had revenue of $4.76 billion during the quarter, compared to analyst estimates of $4.62 billion. Pilgrim’s Pride had a net margin of 6.81% and a return on equity of 37.15%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the business earned $1.67 earnings per share. Equities analysts forecast that Pilgrim’s Pride Corporation will post 5.13 EPS for the current year.

Pilgrim’s Pride Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have recently commented on PPC. Zacks Research downgraded shares of Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a report on Thursday, October 9th. 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 for the company in a report on Monday. Wall Street Zen downgraded shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 13th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Pilgrim’s Pride in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Pilgrim’s Pride currently has a consensus rating of “Reduce” and an average target price of $47.67.

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.