Islay Capital Management LLC Acquires Shares of 21,829 Pilgrim’s Pride Corporation $PPC

Islay Capital Management LLC acquired a new stake in Pilgrim’s Pride Corporation (NASDAQ:PPC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 21,829 shares of the company’s stock, valued at approximately $851,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisors Preferred LLC bought a new position in Pilgrim’s Pride in the third quarter valued at approximately $1,858,000. Barings LLC bought a new position in Pilgrim’s Pride in the third quarter valued at approximately $1,335,000. Accredited Wealth Management LLC boosted its stake in Pilgrim’s Pride by 3,257.0% in the third quarter. Accredited Wealth Management LLC now owns 30,213 shares of the company’s stock valued at $1,230,000 after acquiring an additional 29,313 shares during the last quarter. Quantbot Technologies LP boosted its stake in Pilgrim’s Pride by 163.4% in the third quarter. Quantbot Technologies LP now owns 117,781 shares of the company’s stock valued at $4,796,000 after acquiring an additional 73,068 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Pilgrim’s Pride by 10.0% in the third quarter. Vanguard Group Inc. now owns 5,672,728 shares of the company’s stock valued at $230,993,000 after acquiring an additional 516,598 shares during the last quarter. 16.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Barclays upgraded shares of Pilgrim’s Pride from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $45.00 to $42.00 in a report on Friday, May 1st. Stephens set a $40.00 target price on shares of Pilgrim’s Pride in a report on Wednesday, April 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Pilgrim’s Pride in a report on Friday. UBS Group assumed coverage on shares of Pilgrim’s Pride in a report on Tuesday, May 19th. They issued a “neutral” rating and a $30.00 target price on the stock. Finally, The Goldman Sachs Group cut their target price on shares of Pilgrim’s Pride from $44.00 to $39.00 and set a “neutral” rating on the stock in a report on Thursday, April 9th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Pilgrim’s Pride presently has a consensus rating of “Hold” and an average target price of $38.20.

Pilgrim’s Pride Stock Down 3.4%

Shares of PPC stock opened at $29.04 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 0.73 and a debt-to-equity ratio of 0.83. Pilgrim’s Pride Corporation has a 1 year low of $27.13 and a 1 year high of $50.56. The firm’s fifty day moving average price is $31.09 and its two-hundred day moving average price is $36.85. The firm has a market capitalization of $6.91 billion, a P/E ratio of 7.79 and a beta of 0.28.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.18). Pilgrim’s Pride had a net margin of 4.78% and a return on equity of 28.57%. The business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same quarter in the previous year, the firm posted $1.31 earnings per share. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. On average, equities analysts predict that Pilgrim’s Pride Corporation will post 3.52 EPS for the current fiscal year.

Pilgrim’s Pride Company Profile

Pilgrim’s Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim’s Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.

The company’s vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.