Journey Advisory Group LLC Sells 6,620 Shares of Pilgrim’s Pride Corporation $PPC

Journey Advisory Group LLC trimmed its position in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 38.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,505 shares of the company’s stock after selling 6,620 shares during the quarter. Journey Advisory Group LLC’s holdings in Pilgrim’s Pride were worth $473,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PPC. Allspring Global Investments Holdings LLC raised its position in Pilgrim’s Pride by 18.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 56,066 shares of the company’s stock valued at $3,154,000 after purchasing an additional 8,638 shares during the last quarter. GAMMA Investing LLC grew its stake in Pilgrim’s Pride by 18.6% during the first quarter. GAMMA Investing LLC now owns 3,189 shares of the company’s stock worth $174,000 after purchasing an additional 501 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in Pilgrim’s Pride during the first quarter worth approximately $355,000. Range Financial Group LLC grew its stake in Pilgrim’s Pride by 26.5% during the second quarter. Range Financial Group LLC now owns 29,027 shares of the company’s stock worth $1,306,000 after purchasing an additional 6,073 shares during the period. Finally, LPL Financial LLC grew its stake in Pilgrim’s Pride by 135.2% in the first quarter. LPL Financial LLC now owns 98,394 shares of the company’s stock valued at $5,363,000 after acquiring an additional 56,568 shares during the period. 16.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Pilgrim’s Pride Trading Up 0.3%

Shares of PPC stock opened at $37.46 on Tuesday. The stock has a market capitalization of $8.90 billion, a PE ratio of 7.22 and a beta of 0.45. Pilgrim’s Pride Corporation has a 1-year low of $36.90 and a 1-year high of $57.16. The business has a 50-day moving average of $42.61 and a 200 day moving average of $46.24. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.63 and a quick ratio of 0.88.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings data 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 business had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.62 billion. During the same quarter last year, the business posted $1.67 EPS. The business’s revenue was up 4.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Pilgrim’s Pride Corporation will post 5.13 earnings per share for the current year.

Pilgrim’s Pride Dividend Announcement

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

Pilgrim’s Pride 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.