Neo Ivy Capital Management Takes Position in Pilgrim’s Pride Corporation $PPC

Neo Ivy Capital Management purchased a new stake in Pilgrim’s Pride Corporation (NASDAQ:PPC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 23,244 shares of the company’s stock, valued at approximately $1,046,000.

Several other large investors have also recently bought and sold shares of PPC. Brooklyn Investment Group boosted its position in shares of Pilgrim’s Pride by 309.4% during the 1st quarter. Brooklyn Investment Group now owns 651 shares of the company’s stock worth $35,000 after purchasing an additional 492 shares in the last quarter. Quarry LP acquired a new stake in shares of Pilgrim’s Pride in the first quarter valued at about $43,000. Ameritas Advisory Services LLC purchased a new stake in Pilgrim’s Pride during the second quarter worth about $45,000. Caitong International Asset Management Co. Ltd grew its position in Pilgrim’s Pride by 117.5% during the second quarter. Caitong International Asset Management Co. Ltd now owns 1,231 shares of the company’s stock worth $55,000 after buying an additional 665 shares during the period. Finally, Rosenberg Matthew Hamilton purchased a new position in Pilgrim’s Pride in the second quarter valued at about $62,000. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PPC. The Goldman Sachs Group decreased their price target on Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Pilgrim’s Pride in a research report on Wednesday. Wall Street Zen cut Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, Zacks Research raised Pilgrim’s Pride from a “strong sell” rating to a “hold” rating in a research note on Friday, November 7th. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $47.00.

Pilgrim’s Pride Stock Performance

Pilgrim’s Pride stock opened at $38.80 on Friday. Pilgrim’s Pride Corporation has a fifty-two week low of $35.73 and a fifty-two week high of $57.16. The company has a market capitalization of $9.22 billion, a price-to-earnings ratio of 7.52 and a beta of 0.48. The stock has a fifty day moving average of $38.80 and a two-hundred day moving average of $43.92. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.88 and a current ratio of 1.63.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.11. The business had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $4.65 billion. Pilgrim’s Pride had a return on equity of 37.75% and a net margin of 6.70%.The business’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.63 earnings per share. On average, analysts anticipate that Pilgrim’s Pride Corporation will post 5.13 EPS for the current fiscal year.

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.