KBC Group NV Buys 29,079 Shares of Pilgrim’s Pride Corporation $PPC

KBC Group NV increased its stake in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 1,098.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,727 shares of the company’s stock after acquiring an additional 29,079 shares during the quarter. KBC Group NV’s holdings in Pilgrim’s Pride were worth $1,427,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. AQR Capital Management LLC raised its holdings in Pilgrim’s Pride by 25.9% during the 1st quarter. AQR Capital Management LLC now owns 2,370,927 shares of the company’s stock worth $128,599,000 after purchasing an additional 487,219 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in shares of Pilgrim’s Pride by 77.0% during the first quarter. Cubist Systematic Strategies LLC now owns 785,098 shares of the company’s stock worth $42,796,000 after buying an additional 341,517 shares during the period. Allianz Asset Management GmbH increased its position in shares of Pilgrim’s Pride by 448.0% during the second quarter. Allianz Asset Management GmbH now owns 396,785 shares of the company’s stock worth $17,847,000 after buying an additional 324,382 shares during the period. Assetmark Inc. raised its stake in Pilgrim’s Pride by 26.1% during the first quarter. Assetmark Inc. now owns 1,070,893 shares of the company’s stock worth $58,374,000 after buying an additional 221,617 shares during the last quarter. Finally, Millennium Management LLC raised its stake in Pilgrim’s Pride by 180.7% during the first quarter. Millennium Management LLC now owns 342,774 shares of the company’s stock worth $18,685,000 after buying an additional 220,673 shares during the last quarter. 16.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PPC has been the topic of a number of research analyst reports. The Goldman Sachs Group cut their price target 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. Wall Street Zen downgraded Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Zacks Research upgraded Pilgrim’s Pride from a “strong sell” rating to a “hold” rating in a research report on Friday, November 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Pilgrim’s Pride in a research note on Thursday. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Pilgrim’s Pride has an average rating of “Hold” and a consensus target price of $47.00.

Pilgrim’s Pride Trading Down 0.3%

NASDAQ:PPC opened at $37.52 on Monday. Pilgrim’s Pride Corporation has a 12 month low of $35.73 and a 12 month high of $57.16. The company has a current ratio of 1.63, a quick ratio of 0.88 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $8.91 billion, a price-to-earnings ratio of 7.27 and a beta of 0.48. The firm has a fifty day simple moving average of $39.41 and a two-hundred day simple moving average of $44.19.

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

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.