Pilgrim’s Pride Corporation $PPC Shares Bought by Raymond James Financial Inc.

Raymond James Financial Inc. raised its stake in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 34.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 79,092 shares of the company’s stock after purchasing an additional 20,408 shares during the quarter. Raymond James Financial Inc.’s holdings in Pilgrim’s Pride were worth $4,311,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Pilgrim’s Pride in the 4th quarter valued at about $55,000. Raleigh Capital Management Inc. acquired a new position in Pilgrim’s Pride in the 1st quarter valued at about $74,000. PNC Financial Services Group Inc. grew its position in Pilgrim’s Pride by 46.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,386 shares of the company’s stock valued at $76,000 after acquiring an additional 441 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in Pilgrim’s Pride in the 1st quarter valued at about $133,000. Finally, KBC Group NV acquired a new position in Pilgrim’s Pride in the 1st quarter valued at about $144,000. 16.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PPC has been the subject of several research reports. Wall Street Zen raised Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research report on Friday. The Goldman Sachs Group initiated coverage on Pilgrim’s Pride in a research report on Monday, June 23rd. They issued a “neutral” rating and a $50.00 target price for the company. Five equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $47.50.

Pilgrim’s Pride Stock Performance

Shares of PPC opened at $44.29 on Friday. The stock has a 50 day moving average price of $46.47 and a 200 day moving average price of $48.92. The company has a quick ratio of 0.88, a current ratio of 1.63 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $10.52 billion, a price-to-earnings ratio of 8.53 and a beta of 0.50. Pilgrim’s Pride Corporation has a 52-week low of $40.09 and a 52-week high of $57.16.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.16. The firm had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.62 billion. Pilgrim’s Pride had a return on equity of 37.15% and a net margin of 6.81%.The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.67 earnings per share. Research analysts predict that Pilgrim’s Pride Corporation will post 5.13 EPS for the current fiscal year.

Pilgrim’s Pride Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Wednesday, September 3rd. Stockholders of record on Wednesday, August 20th were issued a $2.10 dividend. The ex-dividend date of this dividend was Wednesday, August 20th.

Pilgrim’s Pride 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.