IndexIQ Advisors LLC boosted its stake in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 25.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 186,996 shares of the company’s stock after buying an additional 37,511 shares during the period. IndexIQ Advisors LLC owned 0.08% of Pilgrim’s Pride Corporation worth $4,099,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. Credit Agricole S A increased its stake in shares of Pilgrim’s Pride Corporation by 12.8% in the first quarter. Credit Agricole S A now owns 356,800 shares of the company’s stock valued at $8,030,000 after buying an additional 40,400 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Pilgrim’s Pride Corporation by 9.9% in the first quarter. Dimensional Fund Advisors LP now owns 792,740 shares of the company’s stock valued at $17,840,000 after buying an additional 71,211 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Pilgrim’s Pride Corporation during the first quarter valued at approximately $12,159,000. Pictet Asset Management Ltd. purchased a new stake in shares of Pilgrim’s Pride Corporation during the first quarter valued at approximately $3,216,000. Finally, Vanguard Group Inc. increased its stake in shares of Pilgrim’s Pride Corporation by 4.1% in the first quarter. Vanguard Group Inc. now owns 4,926,654 shares of the company’s stock valued at $110,874,000 after buying an additional 195,030 shares during the last quarter. Hedge funds and other institutional investors own 24.34% of the company’s stock.

Shares of Pilgrim’s Pride Corporation (PPC) traded down 0.101% during mid-day trading on Tuesday, reaching $28.621. 25,633 shares of the company’s stock were exchanged. The stock has a market capitalization of $7.12 billion, a PE ratio of 14.440 and a beta of 0.19. The company’s 50 day moving average is $24.97 and its 200 day moving average is $23.31. Pilgrim’s Pride Corporation has a 1-year low of $17.15 and a 1-year high of $29.16.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.83 by $0.11. Pilgrim’s Pride Corporation had a net margin of 6.05% and a return on equity of 49.65%. The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same period in the previous year, the firm earned $0.60 EPS. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. Equities research analysts anticipate that Pilgrim’s Pride Corporation will post $2.49 EPS for the current fiscal year.

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A number of analysts have issued reports on PPC shares. Jefferies Group LLC set a $25.00 price target on shares of Pilgrim’s Pride Corporation and gave the company a “hold” rating in a report on Tuesday, August 15th. BidaskClub downgraded shares of Pilgrim’s Pride Corporation from a “hold” rating to a “sell” rating in a report on Saturday, July 1st. Zacks Investment Research downgraded shares of Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a report on Friday, May 19th. BMO Capital Markets reiterated a “hold” rating and issued a $24.00 price target on shares of Pilgrim’s Pride Corporation in a report on Tuesday, May 16th. Finally, ValuEngine upgraded shares of Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $24.50.

Pilgrim’s Pride Corporation Company Profile

Pilgrim’s Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.

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Institutional Ownership by Quarter for Pilgrim`s Pride Corporation (NASDAQ:PPC)

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