Victory Capital Management Inc. lowered its stake in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 35.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 389,930 shares of the company’s stock after selling 214,337 shares during the period. Victory Capital Management Inc. owned approximately 0.16% of Pilgrim’s Pride Corporation worth $11,078,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of PPC. BlackRock Inc. increased its holdings in shares of Pilgrim’s Pride Corporation by 662.4% in the first quarter. BlackRock Inc. now owns 4,173,974 shares of the company’s stock valued at $93,936,000 after buying an additional 3,626,463 shares in the last quarter. LSV Asset Management increased its holdings in shares of Pilgrim’s Pride Corporation by 8.1% in the second quarter. LSV Asset Management now owns 10,195,841 shares of the company’s stock valued at $223,492,000 after buying an additional 767,317 shares in the last quarter. Balyasny Asset Management LLC increased its holdings in shares of Pilgrim’s Pride Corporation by 595.5% in the second quarter. Balyasny Asset Management LLC now owns 789,357 shares of the company’s stock valued at $17,303,000 after buying an additional 675,862 shares in the last quarter. Koch Industries Inc. bought a new position in shares of Pilgrim’s Pride Corporation in the second quarter valued at $405,000. Finally, Quantitative Investment Management LLC bought a new position in shares of Pilgrim’s Pride Corporation in the second quarter valued at $6,874,000. 24.50% of the stock is currently owned by institutional investors.

Pilgrim’s Pride Corporation (NASDAQ PPC) opened at $34.04 on Tuesday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.81 and a current ratio of 1.65. Pilgrim’s Pride Corporation has a fifty-two week low of $17.15 and a fifty-two week high of $35.00. The company has a market cap of $8,589.42, a price-to-earnings ratio of 13.38 and a beta of 0.21.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.77 by $0.21. Pilgrim’s Pride Corporation had a net margin of 7.03% and a return on equity of 53.62%. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the previous year, the company posted $0.40 EPS. Pilgrim’s Pride Corporation’s revenue was up 12.0% on a year-over-year basis. sell-side analysts predict that Pilgrim’s Pride Corporation will post 2.77 earnings per share for the current year.

Several research firms have weighed in on PPC. BidaskClub cut shares of Pilgrim’s Pride Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Zacks Investment Research upgraded shares of Pilgrim’s Pride Corporation from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a research report on Wednesday, August 2nd. ValuEngine upgraded shares of Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC set a $25.00 price objective on shares of Pilgrim’s Pride Corporation and gave the stock a “hold” rating in a research report on Tuesday, August 15th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $24.00 price objective on shares of Pilgrim’s Pride Corporation in a research report on Friday, August 25th. Six research analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $29.20.

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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.

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

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