Vinva Investment Management Ltd Takes $198,000 Position in Pilgrim’s Pride Corporation $PPC

Vinva Investment Management Ltd acquired a new position in Pilgrim’s Pride Corporation (NASDAQ:PPC) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,402 shares of the company’s stock, valued at approximately $198,000.

Other hedge funds have also bought and sold shares of the company. Brooklyn Investment Group increased its holdings in shares of Pilgrim’s Pride by 309.4% in the 1st quarter. Brooklyn Investment Group now owns 651 shares of the company’s stock worth $35,000 after buying an additional 492 shares during the last quarter. Quarry LP purchased a new stake in Pilgrim’s Pride during the first quarter valued at about $43,000. Ameritas Advisory Services LLC bought a new stake in Pilgrim’s Pride during the second quarter worth about $45,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Pilgrim’s Pride by 117.5% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 1,231 shares of the company’s stock worth $55,000 after purchasing an additional 665 shares in the last quarter. Finally, Rosenberg Matthew Hamilton bought a new position in shares of Pilgrim’s Pride during the 2nd quarter valued at about $62,000. 16.64% of the stock is currently owned by institutional investors.

Pilgrim’s Pride Trading Up 2.0%

PPC opened at $38.30 on Friday. Pilgrim’s Pride Corporation has a one year low of $35.73 and a one year high of $57.16. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.63 and a quick ratio of 0.88. The business has a 50 day simple moving average of $38.37 and a two-hundred day simple moving average of $43.58. The firm has a market capitalization of $9.10 billion, a price-to-earnings ratio of 7.42 and a beta of 0.48.

Pilgrim’s Pride (NASDAQ:PPC) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.11. The business had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $4.65 billion. Pilgrim’s Pride had a return on equity of 37.75% and a net margin of 6.70%.The business’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.63 EPS. Analysts predict that Pilgrim’s Pride Corporation will post 5.13 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on PPC shares. Wall Street Zen raised Pilgrim’s Pride from a “hold” rating to a “buy” rating in a research note on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pilgrim’s Pride in a research note on Tuesday. The Goldman Sachs Group decreased their target price on shares of Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating on the stock in a research report on Monday, October 13th. Finally, Zacks Research raised shares of Pilgrim’s Pride from a “strong sell” rating to a “hold” rating in a research note on Friday, November 7th. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $47.00.

Pilgrim’s Pride Company Profile

Pilgrim’s Pride Corp. engages in the production, processing, marketing, and distribution of fresh, frozen and value-added chicken and pork products to retailers, distributors, and foodservice operators. It operates through the following segments: U.S., U.K. and Europe, and Mexico. The company was founded by Lonnie A.