Pilgrim’s Pride Corporation $PPC Holdings Lowered by AXQ Capital LP

AXQ Capital LP trimmed its stake in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 74.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 7,024 shares of the company’s stock after selling 20,512 shares during the period. AXQ Capital LP’s holdings in Pilgrim’s Pride were worth $274,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PPC. Torren Management LLC purchased a new position in shares of Pilgrim’s Pride in the fourth quarter worth approximately $31,000. Kingdom Financial Group LLC. purchased a new position in shares of Pilgrim’s Pride in the fourth quarter worth approximately $37,000. Clearstead Advisors LLC increased its position in shares of Pilgrim’s Pride by 1,522.6% in the third quarter. Clearstead Advisors LLC now owns 1,006 shares of the company’s stock worth $41,000 after acquiring an additional 944 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new position in Pilgrim’s Pride during the third quarter valued at approximately $41,000. Finally, Signaturefd LLC grew its position in Pilgrim’s Pride by 23.5% during the fourth quarter. Signaturefd LLC now owns 1,350 shares of the company’s stock valued at $53,000 after purchasing an additional 257 shares in the last quarter. 16.64% of the stock is currently owned by institutional investors.

Pilgrim’s Pride Price Performance

Shares of Pilgrim’s Pride stock opened at $29.88 on Friday. The stock has a market capitalization of $7.11 billion, a price-to-earnings ratio of 8.01 and a beta of 0.28. Pilgrim’s Pride Corporation has a 1-year low of $27.13 and a 1-year high of $50.56. The firm has a fifty day simple moving average of $32.01 and a 200-day simple moving average of $37.20. 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 (NASDAQ:PPC) last announced 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). The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.43 billion. Pilgrim’s Pride had a net margin of 4.78% and a return on equity of 28.57%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the firm earned $1.31 EPS. On average, sell-side analysts expect that Pilgrim’s Pride Corporation will post 3.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. The Goldman Sachs Group lowered their price objective on shares of Pilgrim’s Pride from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Wall Street Zen downgraded shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research report on Sunday, February 15th. Zacks Research downgraded shares of Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 11th. UBS Group assumed coverage on shares of Pilgrim’s Pride in a research report on Tuesday, May 19th. They set a “neutral” rating and a $30.00 price objective on the stock. Finally, Stephens set a $40.00 price objective on shares of Pilgrim’s Pride in a research report on Wednesday, April 15th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $38.20.

Pilgrim’s Pride 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.