Tiger Global Management Exits Position in Pilgrim's Pride Corporation (PPC)

Pilgrim's Pride Corporation (PPC) : Tiger Global Management has sold out all of its stake in Pilgrim's Pride Corporation during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 2,000,000 shares of Pilgrim's Pride Corporation which is valued at $45,480,000.

Other Hedge Funds, Including , Point72 Asset Management boosted its stake in PPC in the latest quarter, The investment management firm added 87,000 additional shares and now holds a total of 956,200 shares of Pilgrim's Pride Corporation which is valued at $21,743,988. Pilgrim's Pride Corporation makes up approx 0.17% of Point72 Asset Management’s portfolio.Jefferies Group reduced its stake in PPC by selling 28,745 shares or 63.88% in the most recent quarter. The Hedge Fund company now holds 16,255 shares of PPC which is valued at $369,639. Pilgrim's Pride Corporation makes up approx 0.01% of Jefferies Group’s portfolio.New York State Common Retirement Fund boosted its stake in PPC in the latest quarter, The investment management firm added 101,200 additional shares and now holds a total of 409,700 shares of Pilgrim's Pride Corporation which is valued at $9,316,578. Pilgrim's Pride Corporation makes up approx 0.01% of New York State Common Retirement Fund’s portfolio. Gsa Capital Partners Llp sold out all of its stake in PPC during the most recent quarter. The investment firm sold 35,229 shares of PPC which is valued $810,267. First New York Securities Ny sold out all of its stake in PPC during the most recent quarter. The investment firm sold 4,375 shares of PPC which is valued $106,400.

Pilgrim's Pride Corporation closed down -0.1 points or -0.43% at $22.98 with 7,30,667 shares getting traded on Thursday. Post opening the session at $23.01, the shares hit an intraday low of $22.82 and an intraday high of $23.196 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Pilgrim's Pride Corporation reported $0.60 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $0.64. The company had revenue of $2028.00 million for the quarter, compared to analysts expectations of $2036.27 million. The company’s revenue was down -1.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.94 EPS.

Many Wall Street Analysts have commented on Pilgrim's Pride Corporation. Pilgrim's Pride Corporation was Downgraded by BB&T Capital Mkts to ” Hold” on May 25, 2016.

Pilgrim’s Pride Corporation (Pilgrim’s) is a producer of Chicken products. 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. Its fresh chicken products include refrigerated (non-frozen) whole chickens whole cut-up chickens and selected chicken parts that are either marinated or non-marinated. Its prepared chicken products include fully cooked ready-to-cook and individually frozen chicken parts strips nuggets and patties. The Company focuses on foodservice industry principally chain restaurants and food processors such as Chick-fil-A and Yum! Brands; distributors such as US Foods and Sysco and retail customers including grocery store chains and wholesale clubs such as Kroger Wal-Mart Costco Publix and Sam’s Club.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *