Victory Capital Management Inc. grew its stake in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 198.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 604,267 shares of the company’s stock after buying an additional 402,063 shares during the period. Victory Capital Management Inc. owned approximately 0.24% of Pilgrim’s Pride Corporation worth $13,246,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Pilgrim’s Pride Corporation by 6.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,668 shares of the company’s stock worth $105,000 after purchasing an additional 267 shares during the period. Legal & General Group Plc raised its position in shares of Pilgrim’s Pride Corporation by 1.9% during the second quarter. Legal & General Group Plc now owns 18,769 shares of the company’s stock worth $412,000 after purchasing an additional 347 shares during the period. Cadence Capital Management LLC raised its position in shares of Pilgrim’s Pride Corporation by 1.5% during the first quarter. Cadence Capital Management LLC now owns 35,013 shares of the company’s stock worth $788,000 after purchasing an additional 505 shares during the period. Horrell Capital Management Inc. raised its position in shares of Pilgrim’s Pride Corporation by 2.5% during the second quarter. Horrell Capital Management Inc. now owns 27,941 shares of the company’s stock worth $612,000 after purchasing an additional 681 shares during the period. Finally, First Midwest Bank Trust Division raised its position in shares of Pilgrim’s Pride Corporation by 2.4% during the second quarter. First Midwest Bank Trust Division now owns 30,961 shares of the company’s stock worth $679,000 after purchasing an additional 738 shares during the period. Hedge funds and other institutional investors own 24.34% of the company’s stock.

Shares of Pilgrim’s Pride Corporation (PPC) opened at 29.51 on Tuesday. The stock’s 50 day moving average price is $26.05 and its 200-day moving average price is $23.65. The firm has a market cap of $7.34 billion, a price-to-earnings ratio of 14.89 and a beta of 0.13. Pilgrim’s Pride Corporation has a 52-week low of $17.15 and a 52-week high of $29.86.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last announced its earnings results on Wednesday, August 2nd. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.83 by $0.11. Pilgrim’s Pride Corporation had a return on equity of 49.65% and a net margin of 6.05%. The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the prior year, the company earned $0.60 EPS. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, analysts forecast that Pilgrim’s Pride Corporation will post $2.49 EPS for the current year.

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A number of research firms have recently commented on PPC. Jefferies Group LLC reaffirmed a “hold” rating and set a $25.00 price target on shares of Pilgrim’s Pride Corporation in a research report on Friday, July 14th. BidaskClub raised Pilgrim’s Pride Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. BMO Capital Markets reaffirmed a “hold” rating and set a $24.00 price target on shares of Pilgrim’s Pride Corporation in a research report on Tuesday, June 27th. ValuEngine raised Pilgrim’s Pride Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday. Finally, Zacks Investment Research raised Pilgrim’s Pride Corporation from a “hold” rating to a “strong-buy” rating and set a $28.00 price target on the stock in a research report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and three have assigned a strong buy rating to the stock. Pilgrim’s Pride Corporation has an average rating of “Buy” and an average target price of $24.50.

Pilgrim’s Pride Corporation 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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