Pilgrim’s Pride Corporation (NASDAQ:PPC) Stake Boosted by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. increased its stake in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 12.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 329,866 shares of the company’s stock after buying an additional 37,028 shares during the period. Schwab Charles Investment Management Inc. owned 0.13% of Pilgrim’s Pride Corporation worth $7,424,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in PPC. Zurcher Kantonalbank Zurich Cantonalbank increased its stake 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 buying an additional 267 shares during the period. TrimTabs Asset Management LLC increased its stake in Pilgrim’s Pride Corporation by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 5,016 shares of the company’s stock worth $113,000 after buying an additional 2,360 shares during the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in Pilgrim’s Pride Corporation during the first quarter worth $249,000. Marshall Wace North America L.P. acquired a new stake in Pilgrim’s Pride Corporation during the first quarter worth $249,000. Finally, Pacer Advisors Inc. increased its stake in Pilgrim’s Pride Corporation by 41.6% in the first quarter. Pacer Advisors Inc. now owns 11,777 shares of the company’s stock worth $265,000 after buying an additional 3,457 shares during the last quarter. Institutional investors own 26.03% of the company’s stock.

Pilgrim’s Pride Corporation (NASDAQ:PPC) opened at 28.17 on Friday. The firm has a market capitalization of $7.01 billion, a P/E ratio of 14.21 and a beta of 0.19. Pilgrim’s Pride Corporation has a 12 month low of $17.15 and a 12 month high of $28.68. The firm’s 50-day moving average is $24.07 and its 200 day moving average is $22.97.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last released its earnings results on Wednesday, August 2nd. The company reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter last year, the firm earned $0.60 EPS. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, analysts expect that Pilgrim’s Pride Corporation will post $2.49 EPS for the current fiscal year.

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A number of research firms have recently weighed in on PPC. Jefferies Group LLC set a $25.00 price target on shares of Pilgrim’s Pride Corporation and gave the company a “hold” rating in a research report on Tuesday. BidaskClub upgraded shares of Pilgrim’s Pride Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 12th. ValuEngine upgraded shares of Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Pilgrim’s Pride Corporation from a “hold” rating to a “strong-buy” rating and set a $28.00 price target for the company in a research report on Wednesday, August 2nd. Finally, BMO Capital Markets restated a “hold” rating and set a $24.00 price objective on shares of Pilgrim’s Pride Corporation in a research report on Tuesday, June 27th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $24.50.

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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