Vinva Investment Management Ltd Invests $198,000 in Pilgrim’s Pride Corporation $PPC

Vinva Investment Management Ltd acquired a new stake in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,402 shares of the company’s stock, valued at approximately $198,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PPC. Viking Fund Management LLC increased its stake in Pilgrim’s Pride by 1,370.6% in the 2nd 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 in the last quarter. Range Financial Group LLC boosted its stake in shares of Pilgrim’s Pride by 26.5% in 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 during the period. LPL Financial LLC grew its position in shares of Pilgrim’s Pride by 135.2% during the first quarter. LPL Financial LLC now owns 98,394 shares of the company’s stock worth $5,363,000 after purchasing an additional 56,568 shares in the last quarter. Dark Forest Capital Management LP grew its position in shares of Pilgrim’s Pride by 129.6% during the first quarter. Dark Forest Capital Management LP now owns 62,920 shares of the company’s stock worth $3,430,000 after purchasing an additional 35,512 shares in the last quarter. Finally, Inspire Investing LLC raised 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 period. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Zacks Research upgraded Pilgrim’s Pride from a “strong sell” rating to a “hold” rating in a research note on Friday, November 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Pilgrim’s Pride in a report on Tuesday. Wall Street Zen upgraded Pilgrim’s Pride from a “hold” rating to a “buy” rating in a research report on Friday. Finally, The Goldman Sachs Group decreased their target price on 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. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $47.00.

Pilgrim’s Pride Trading Up 2.0%

Shares of PPC stock opened at $38.30 on Friday. Pilgrim’s Pride Corporation has a 1 year low of $35.73 and a 1 year high of $57.16. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.63 and a quick ratio of 0.88. The stock’s 50 day simple moving average is $38.37 and its two-hundred day simple moving average is $43.58. The company has a market cap of $9.10 billion, a PE ratio of 7.42 and a beta of 0.48.

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