Pilgrim’s Pride Co. (NASDAQ:PPC) Shares Bought by Neo Ivy Capital Management

Neo Ivy Capital Management lifted its stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 175.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,387 shares of the company’s stock after acquiring an additional 36,545 shares during the quarter. Neo Ivy Capital Management’s holdings in Pilgrim’s Pride were worth $2,604,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Accredited Wealth Management LLC bought a new stake in shares of Pilgrim’s Pride during the 4th quarter worth $41,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Pilgrim’s Pride during the 4th quarter worth $55,000. R Squared Ltd acquired a new stake in shares of Pilgrim’s Pride in the fourth quarter worth $59,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Pilgrim’s Pride in the fourth quarter worth $118,000. Finally, US Bancorp DE boosted its position in shares of Pilgrim’s Pride by 23.3% in the fourth quarter. US Bancorp DE now owns 3,445 shares of the company’s stock worth $156,000 after buying an additional 650 shares during the period. 16.64% of the stock is owned by institutional investors.

Pilgrim’s Pride Price Performance

Shares of NASDAQ:PPC opened at $49.19 on Friday. Pilgrim’s Pride Co. has a fifty-two week low of $33.70 and a fifty-two week high of $57.16. The business has a 50-day moving average of $50.87 and a two-hundred day moving average of $50.16. The stock has a market capitalization of $11.66 billion, a P/E ratio of 10.79 and a beta of 0.51. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.01 and a quick ratio of 1.31.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.05. Pilgrim’s Pride had a return on equity of 32.83% and a net margin of 6.08%. The company had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same quarter last year, the company earned $0.77 EPS. The company’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities research analysts predict that Pilgrim’s Pride Co. will post 5.13 EPS for the current fiscal year.

Pilgrim’s Pride Increases Dividend

The business also recently declared a special dividend, which was paid on Thursday, April 24th. Stockholders of record on Thursday, April 3rd were given a $6.30 dividend. This is a positive change from Pilgrim’s Pride’s previous special dividend of $2.75. The ex-dividend date was Thursday, April 3rd.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PPC. Santander began coverage on Pilgrim’s Pride in a research report on Wednesday, March 5th. They issued a “neutral” rating for the company. Wall Street Zen cut Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, BMO Capital Markets raised their target price on Pilgrim’s Pride from $47.00 to $48.00 and gave the stock a “market perform” rating in a research report on Monday, March 17th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $48.40.

About Pilgrim’s Pride

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.