AHL Partners LLP Sells 197,301 Shares of Pilgrim’s Pride Corporation (PPC)

AHL Partners LLP reduced its stake in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 50.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 190,928 shares of the company’s stock after selling 197,301 shares during the quarter. AHL Partners LLP owned approximately 0.08% of Pilgrim’s Pride Corporation worth $4,185,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Pilgrim’s Pride Corporation by 6.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,668 shares of the company’s stock valued at $105,000 after acquiring an additional 267 shares in the last quarter. Seven Eight Capital LP bought a new stake in shares of Pilgrim’s Pride Corporation in the second quarter valued at about $134,000. Amalgamated Bank bought a new stake in shares of Pilgrim’s Pride Corporation in the second quarter valued at about $219,000. Regentatlantic Capital LLC bought a new stake in shares of Pilgrim’s Pride Corporation in the second quarter valued at about $220,000. Finally, TrimTabs Asset Management LLC raised its holdings in Pilgrim’s Pride Corporation by 105.0% in the second quarter. TrimTabs Asset Management LLC now owns 10,281 shares of the company’s stock worth $225,000 after purchasing an additional 5,265 shares in the last quarter. 24.33% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have commented on the stock. Jefferies Group LLC set a $25.00 target price on shares of Pilgrim’s Pride Corporation and gave the stock a “hold” rating in a report on Tuesday, August 15th. BidaskClub upgraded shares of Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Zacks Investment Research upgraded shares of Pilgrim’s Pride Corporation from a “hold” rating to a “strong-buy” rating and set a $28.00 target price for the company in a report on Wednesday, August 2nd. ValuEngine upgraded Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Finally, BMO Capital Markets restated a “hold” rating and set a $24.00 price target on shares of Pilgrim’s Pride Corporation in a research note on Friday, August 25th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and three have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $25.00.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last released its earnings results on Wednesday, August 2nd. The company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.11. The company had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.28 billion. Pilgrim’s Pride Corporation had a return on equity of 49.65% and a net margin of 6.05%. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 earnings per share.

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About Pilgrim’s Pride Corporation

Pilgrim’s Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.

Institutional Ownership by Quarter for Pilgrim`s Pride Corporation (NASDAQ:PPC)

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