State Street Corp grew its holdings in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 9.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 793,321 shares of the company’s stock after purchasing an additional 70,198 shares during the quarter. State Street Corp owned about 0.32% of Pilgrim’s Pride Corporation worth $17,385,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of PPC. BlackRock Inc. grew its position 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 purchasing an additional 3,626,463 shares during the last quarter. LSV Asset Management grew its position 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 purchasing an additional 767,317 shares during the last quarter. Balyasny Asset Management LLC grew its position 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 purchasing an additional 675,862 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Pilgrim’s Pride Corporation by 198.8% in the second quarter. Victory Capital Management Inc. now owns 604,267 shares of the company’s stock valued at $13,246,000 after purchasing an additional 402,063 shares during the last quarter. Finally, Quantitative Investment Management LLC acquired a new stake in shares of Pilgrim’s Pride Corporation in the second quarter valued at about $6,874,000. 24.88% of the stock is currently owned by institutional investors.

Shares of Pilgrim’s Pride Corporation (PPC) opened at $35.01 on Monday. Pilgrim’s Pride Corporation has a 1 year low of $17.15 and a 1 year high of $35.30. The firm has a market capitalization of $8,708.82, a PE ratio of 13.57 and a beta of 0.21. 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 (NASDAQ:PPC) last released its quarterly earnings data on Tuesday, November 7th. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.21. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.32 billion. Pilgrim’s Pride Corporation had a return on equity of 53.62% and a net margin of 7.03%. The company’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 earnings per share. analysts anticipate that Pilgrim’s Pride Corporation will post 2.85 EPS for the current year.

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A number of equities research analysts recently weighed in on PPC shares. BidaskClub downgraded Pilgrim’s Pride Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. ValuEngine raised Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Morgan Stanley started coverage on Pilgrim’s Pride Corporation in a research report on Friday, November 3rd. They set an “equal weight” rating and a $30.00 target price on the stock. Zacks Investment Research raised Pilgrim’s Pride Corporation from a “hold” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research report on Wednesday, August 2nd. Finally, Vertical Group downgraded Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, September 5th. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the company’s stock. Pilgrim’s Pride Corporation currently has an average rating of “Buy” and an average price target of $30.20.

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.

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

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