Delphi Management Inc. MA grew its stake in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 11.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,316 shares of the company’s stock after buying an additional 9,803 shares during the period. Delphi Management Inc. MA’s holdings in Pilgrim’s Pride Corporation were worth $2,133,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PPC. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Pilgrim’s Pride Corporation by 6.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,668 shares of the company’s stock worth $105,000 after acquiring an additional 267 shares during the period. Seven Eight Capital LP acquired a new stake in shares of Pilgrim’s Pride Corporation in the second quarter worth $134,000. The Manufacturers Life Insurance Company increased its stake in shares of Pilgrim’s Pride Corporation by 9.5% in the second quarter. The Manufacturers Life Insurance Company now owns 9,203 shares of the company’s stock worth $201,000 after acquiring an additional 798 shares during the period. Amalgamated Bank acquired a new stake in shares of Pilgrim’s Pride Corporation in the second quarter worth $219,000. Finally, Regentatlantic Capital LLC acquired a new stake in shares of Pilgrim’s Pride Corporation in the second quarter worth $220,000. 24.33% of the stock is owned by institutional investors and hedge funds.

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A number of analysts have recently weighed in on the stock. ValuEngine upgraded shares of Pilgrim’s Pride Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Vertical Group lowered shares of Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th. They noted that the move was a valuation call. Vertical Research lowered shares of Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th. Jefferies Group LLC reiterated a “hold” rating and issued a $27.00 price objective (up previously from $25.00) on shares of Pilgrim’s Pride Corporation in a research note on Friday, October 6th. Finally, BMO Capital Markets restated a “hold” rating and set a $24.00 price target on shares of Pilgrim’s Pride Corporation in a research report on Friday, August 25th. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and three have given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $25.00.

Pilgrim’s Pride Corporation (NASDAQ PPC) traded up 0.121% during mid-day trading on Wednesday, reaching $28.935. 215,914 shares of the company traded hands. The stock’s 50 day moving average price is $28.92 and its 200 day moving average price is $25.16. Pilgrim’s Pride Corporation has a 52 week low of $17.15 and a 52 week high of $30.00. The firm has a market capitalization of $7.20 billion, a price-to-earnings ratio of 14.540 and a beta of 0.14.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $0.94 earnings per share for the quarter, topping the Zacks’ 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 analysts’ expectations of $2.28 billion. During the same period in the prior year, the company posted $0.60 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities analysts forecast that Pilgrim’s Pride Corporation will post $2.61 EPS for the current year.

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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