BNP Paribas Arbitrage SA Has $476,000 Holdings in Pilgrim’s Pride Corporation (PPC)

BNP Paribas Arbitrage SA grew its position in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 12.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,718 shares of the company’s stock after buying an additional 2,415 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Pilgrim’s Pride Corporation were worth $476,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in PPC. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Pilgrim’s Pride Corporation by 6.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,668 shares of the company’s stock worth $105,000 after purchasing an additional 267 shares during the period. Regentatlantic Capital LLC acquired a new position in shares of Pilgrim’s Pride Corporation during the 2nd quarter worth $220,000. Fox Run Management L.L.C. acquired a new position in shares of Pilgrim’s Pride Corporation during the 2nd quarter worth $246,000. MARSHALL WACE ASIA Ltd acquired a new position in shares of Pilgrim’s Pride Corporation during the 1st quarter worth $249,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of Pilgrim’s Pride Corporation during the 1st quarter worth $249,000. Institutional investors own 24.34% of the company’s stock.

A number of equities analysts have recently weighed in on PPC shares. BidaskClub cut shares of Pilgrim’s Pride Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. ValuEngine raised shares of Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Zacks Investment Research cut shares of Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a research note on Friday, May 19th. Vertical Group cut shares of Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th. They noted that the move was a valuation call. Finally, Vertical Research cut shares of Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and three have given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $24.50.

Shares of Pilgrim’s Pride Corporation (PPC) opened at 28.72 on Friday. The company has a 50-day moving average of $27.52 and a 200-day moving average of $24.12. The firm has a market capitalization of $7.14 billion, a PE ratio of 14.49 and a beta of 0.13. Pilgrim’s Pride Corporation has a 52 week low of $17.15 and a 52 week high of $29.86.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.11. Pilgrim’s Pride Corporation had a net margin of 6.05% and a return on equity of 49.65%. The business had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the previous year, the business earned $0.60 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. On average, equities analysts forecast that Pilgrim’s Pride Corporation will post $2.50 earnings per share for the current fiscal year.

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Pilgrim’s Pride Corporation Profile

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.

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

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