The Whittier Trust Co. of Nevada Inc. decides to keep it stake in Pilgrim’s Pride Corp. (PPC) to the level of $111,000

The Whittier Trust Co. of Nevada Inc. decides to keep it stake in Pilgrim’s Pride Corp. (PPC) to the level of $111,000

Whittier Trust Co. of Nevada Inc. continued to hold its position in Pilgrim’s Pride Corp. (NASDAQ:PPC) during the second quarter, Holdings Channel reports. The institutional investor owned 4,350 shares of the company’s stock at the end of the second quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Pilgrim’s Pride Corp. were worth $111,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CenturyLink Investment Management Co boosted its position in shares of Pilgrim’s Pride Corp. by 93.6% in the second quarter. CenturyLink Investment Management Co now owns 55,043 shares of the company’s stock valued at $1,402,000 after buying an additional 26,617 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Pilgrim’s Pride Corp. by 11.5% in the second quarter. BNP Paribas Arbitrage SA now owns 8,886 shares of the company’s stock valued at $226,000 after buying an additional 920 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in shares of Pilgrim’s Pride Corp. during the first quarter valued at $209,000. BlueMountain Capital Management LLC boosted its position in shares of Pilgrim’s Pride Corp. by 21.6% in the first quarter. BlueMountain Capital Management LLC now owns 508,775 shares of the company’s stock valued at $12,923,000 after buying an additional 90,529 shares in the last quarter. Finally, Babson Capital Management LLC purchased a new position in shares of Pilgrim’s Pride Corp. during the first quarter valued at $1,750,000. 27.17% of the stock is owned by institutional investors.

Shares of Pilgrim’s Pride Corp. (NASDAQ:PPC) traded down 1.00% on Friday, hitting $20.72. The company had a trading volume of 670,357 shares. The firm has a market capitalization of $5.27 billion, a P/E ratio of 11.25 and a beta of 0.29. The firm has a 50 day moving average of $21.59 and a 200-day moving average of $23.98. Pilgrim’s Pride Corp. has a 12-month low of $17.39 and a 12-month high of $27.79.

Pilgrim’s Pride Corp. (NASDAQ:PPC) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.58 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by $0.06. Pilgrim’s Pride Corp. had a return on equity of 40.35% and a net margin of 5.85%. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period last year, the firm earned $0.94 earnings per share. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, equities analysts predict that Pilgrim’s Pride Corp. will post $1.98 EPS for the current year.

Several research analysts recently weighed in on the company. Zacks Investment Research cut Pilgrim’s Pride Corp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 29th. BMO Capital Markets reiterated a “hold” rating and issued a $27.00 price target on shares of Pilgrim’s Pride Corp. in a research report on Friday, July 29th. Finally, Jefferies Group decreased their price target on Pilgrim’s Pride Corp. from $23.00 to $21.00 and set a “hold” rating for the company in a research report on Wednesday. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $26.71.

Pilgrim’s Pride Corp. Company Profile

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

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