Inspire Advisors LLC Buys 11,882 Shares of Pilgrim’s Pride Corporation $PPC

Inspire Advisors LLC lifted its stake in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 73.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 28,004 shares of the company’s stock after acquiring an additional 11,882 shares during the period. Inspire Advisors LLC’s holdings in Pilgrim’s Pride were worth $1,260,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PPC. Viking Fund Management LLC raised its holdings in Pilgrim’s Pride by 1,370.6% during the second quarter. Viking Fund Management LLC now owns 50,000 shares of the company’s stock worth $2,249,000 after buying an additional 46,600 shares during the last quarter. Range Financial Group LLC increased its position in shares of Pilgrim’s Pride by 26.5% during the second quarter. Range Financial Group LLC now owns 29,027 shares of the company’s stock worth $1,306,000 after acquiring an additional 6,073 shares in the last quarter. LPL Financial LLC raised its holdings in shares of Pilgrim’s Pride by 135.2% in the 1st quarter. LPL Financial LLC now owns 98,394 shares of the company’s stock worth $5,363,000 after acquiring an additional 56,568 shares during the last quarter. Dark Forest Capital Management LP lifted its position in Pilgrim’s Pride by 129.6% in the 1st quarter. Dark Forest Capital Management LP now owns 62,920 shares of the company’s stock valued at $3,430,000 after acquiring an additional 35,512 shares in the last quarter. Finally, Inspire Investing LLC boosted its stake in Pilgrim’s Pride by 56.5% during the 2nd quarter. Inspire Investing LLC now owns 25,635 shares of the company’s stock valued at $1,153,000 after purchasing an additional 9,256 shares during the last quarter. 16.64% of the stock is currently owned by institutional investors and hedge funds.

Pilgrim’s Pride Price Performance

PPC opened at $37.22 on Tuesday. Pilgrim’s Pride Corporation has a fifty-two week low of $35.73 and a fifty-two week high of $57.16. The firm has a 50-day moving average of $39.26 and a 200 day moving average of $44.13. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.88 and a current ratio of 1.63. The firm has a market cap of $8.84 billion, a P/E ratio of 7.21 and a beta of 0.48.

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

Analyst Upgrades and Downgrades

PPC has been the topic of a number of recent research reports. The Goldman Sachs Group dropped their target price on Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating on the stock in a report on Monday, October 13th. Wall Street Zen cut Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Zacks Research upgraded shares of Pilgrim’s Pride from a “strong sell” rating to a “hold” rating in a research note on Friday, November 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Pilgrim’s Pride in a report on Thursday. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Pilgrim’s Pride has an average rating of “Hold” and an average target price of $47.00.

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.