Journey Advisory Group LLC Has $3.65 Million Position in Pilgrim’s Pride Corporation $PPC

Journey Advisory Group LLC raised its position in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 832.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 96,764 shares of the company’s stock after purchasing an additional 86,387 shares during the quarter. Journey Advisory Group LLC’s holdings in Pilgrim’s Pride were worth $3,654,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Torren Management LLC bought a new stake in shares of Pilgrim’s Pride during the fourth quarter worth about $31,000. MCF Advisors LLC acquired a new position in shares of Pilgrim’s Pride in the fourth quarter valued at approximately $35,000. Kingdom Financial Group LLC. bought a new position in Pilgrim’s Pride in the 4th quarter valued at approximately $37,000. Quarry LP raised its holdings in Pilgrim’s Pride by 30.5% in the 4th quarter. Quarry LP now owns 1,248 shares of the company’s stock valued at $49,000 after buying an additional 292 shares during the last quarter. Finally, Signaturefd LLC boosted its position in Pilgrim’s Pride by 23.5% during the 4th quarter. Signaturefd LLC now owns 1,350 shares of the company’s stock worth $53,000 after buying an additional 257 shares during the period. 16.64% of the stock is owned by institutional investors and hedge funds.

Pilgrim’s Pride Price Performance

Shares of PPC opened at $28.42 on Thursday. The business has a 50-day moving average of $28.48 and a 200-day moving average of $35.15. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.48 and a quick ratio of 0.73. The company has a market capitalization of $6.76 billion, a price-to-earnings ratio of 7.62 and a beta of 0.29. Pilgrim’s Pride Corporation has a 1 year low of $26.50 and a 1 year high of $50.56.

Pilgrim’s Pride (NASDAQ:PPC) last released its earnings results on Wednesday, April 29th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.18). The firm had revenue of $4.53 billion for 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%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.31 EPS. As a group, equities research analysts anticipate that Pilgrim’s Pride Corporation will post 3.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PPC. UBS Group initiated coverage on shares of Pilgrim’s Pride in a report on Tuesday, May 19th. They set a “neutral” rating and a $30.00 target price on the stock. BMO Capital Markets dropped their price target on shares of Pilgrim’s Pride from $42.00 to $40.00 and set a “market perform” rating for the company in a research note on Wednesday, March 25th. Stephens set a $40.00 price target on shares of Pilgrim’s Pride in a report on Wednesday, April 15th. Weiss Ratings cut shares of Pilgrim’s Pride from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, June 26th. Finally, Bank of America decreased their price objective on Pilgrim’s Pride from $37.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, July 2nd. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Pilgrim’s Pride has an average rating of “Hold” and an average target price of $36.83.

About Pilgrim’s Pride

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.