Islay Capital Management LLC Invests $851,000 in Pilgrim’s Pride Corporation $PPC

Islay Capital Management LLC acquired a new position in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) during the 4th quarter, Holdings Channel reports. The firm acquired 21,829 shares of the company’s stock, valued at approximately $851,000.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Pilgrim’s Pride by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 5,804,210 shares of the company’s stock worth $226,306,000 after buying an additional 131,482 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Pilgrim’s Pride by 18.7% during the 3rd quarter. AQR Capital Management LLC now owns 4,482,124 shares of the company’s stock worth $182,512,000 after buying an additional 705,946 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Pilgrim’s Pride by 27.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,418,398 shares of the company’s stock worth $133,296,000 after buying an additional 742,204 shares during the period. Bank of America Corp DE boosted its holdings in shares of Pilgrim’s Pride by 22.9% during the 2nd quarter. Bank of America Corp DE now owns 2,171,836 shares of the company’s stock worth $97,689,000 after buying an additional 404,915 shares during the period. Finally, State Street Corp boosted its holdings in shares of Pilgrim’s Pride by 7.0% during the 4th quarter. State Street Corp now owns 1,661,307 shares of the company’s stock worth $64,774,000 after buying an additional 108,949 shares during the period. 16.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on PPC. UBS Group began coverage on shares of Pilgrim’s Pride in a report on Tuesday, May 19th. They issued a “neutral” rating and a $30.00 price objective for the company. BMO Capital Markets cut their price objective on shares of Pilgrim’s Pride from $42.00 to $40.00 and set a “market perform” rating for the company in a report on Wednesday, March 25th. Barclays raised shares of Pilgrim’s Pride from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $45.00 to $42.00 in a report on Friday, May 1st. Stephens set a $40.00 price objective on shares of Pilgrim’s Pride in a report on Wednesday, April 15th. Finally, The Goldman Sachs Group cut their price objective on shares of Pilgrim’s Pride from $44.00 to $39.00 and set a “neutral” rating for the company in a report on Thursday, April 9th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Pilgrim’s Pride currently has an average rating of “Hold” and a consensus price target of $38.20.

Pilgrim’s Pride Stock Performance

NASDAQ PPC opened at $29.04 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 1.48 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $6.91 billion, a P/E ratio of 7.79 and a beta of 0.28. Pilgrim’s Pride Corporation has a 12-month low of $27.13 and a 12-month high of $50.56. The firm has a 50-day moving average price of $31.09 and a two-hundred day moving average price of $36.85.

Pilgrim’s Pride (NASDAQ:PPC) last issued its earnings results on Wednesday, April 29th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.18). The firm had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.43 billion. Pilgrim’s Pride had a net margin of 4.78% and a return on equity of 28.57%. Pilgrim’s Pride’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.31 earnings per share. Analysts anticipate that Pilgrim’s Pride Corporation will post 3.52 earnings per share for the current year.

Pilgrim’s Pride Company 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.