159,295 Shares in Pilgrim’s Pride Corporation $PPC Bought by Moore Capital Management LP

Moore Capital Management LP purchased a new stake in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) in the second quarter, HoldingsChannel.com reports. The firm purchased 159,295 shares of the company’s stock, valued at approximately $4,478,000.

A number of other large investors also recently modified their holdings of PPC. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Pilgrim’s Pride in the 2nd quarter valued at about $30,000. MCF Advisors LLC purchased a new position in Pilgrim’s Pride in the fourth quarter valued at approximately $35,000. Kingdom Financial Group LLC. acquired a new position in Pilgrim’s Pride during the fourth quarter valued at approximately $37,000. Bessemer Group Inc. grew its stake in Pilgrim’s Pride by 205.4% during the first quarter. Bessemer Group Inc. now owns 1,014 shares of the company’s stock worth $39,000 after buying an additional 682 shares during the period. Finally, State of Wyoming acquired a new stake in shares of Pilgrim’s Pride in the second quarter worth $49,000. 16.64% of the stock is currently owned by hedge funds and other institutional investors.

Pilgrim’s Pride Stock Performance

Shares of PPC opened at $31.38 on Tuesday. The company has a 50-day moving average of $28.80 and a two-hundred day moving average of $32.32. The stock has a market cap of $7.47 billion, a price-to-earnings ratio of 13.64 and a beta of 0.29. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.36 and a quick ratio of 0.62. Pilgrim’s Pride Corporation has a one year low of $25.90 and a one year high of $45.44.

Pilgrim’s Pride (NASDAQ:PPC) last released its earnings results on Thursday, July 30th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.06). The business had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.70 billion. Pilgrim’s Pride had a net margin of 2.96% and a return on equity of 21.70%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same period last year, the firm earned $1.70 EPS. On average, equities research analysts expect that Pilgrim’s Pride Corporation will post 2.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PPC shares. UBS Group decreased their price target on Pilgrim’s Pride from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Friday, August 7th. Weiss Ratings downgraded Pilgrim’s Pride from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, June 26th. Finally, Bank of America dropped their price objective on shares of Pilgrim’s Pride from $37.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, July 2nd. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $36.50.

Pilgrim’s Pride Company Profile

Pilgrim’s Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim’s Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.

The company’s vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.