Denali Advisors Lowers stake in Pilgrim's Pride Corporation (PPC)

Pilgrim's Pride Corporation (PPC) : Denali Advisors reduced its stake in Pilgrim's Pride Corporation by 1.97% during the most recent quarter end. The investment management company now holds a total of 487,500 shares of Pilgrim's Pride Corporation which is valued at $12,231,375 after selling 9,800 shares in Pilgrim's Pride Corporation , the firm said in a disclosure report filed with the SEC on Apr 11, 2016.Pilgrim's Pride Corporation makes up approximately 2.73% of Denali Advisors’s portfolio.

Pilgrim's Pride Corporation opened for trading at $25.07 and hit $25.65 on the upside on Friday, eventually ending the session at $25.09, with a gain of 0.16% or 0.04 points. The heightened volatility saw the trading volume jump to 12,46,643 shares. Company has a market cap of $6,394 M.

Other Hedge Funds, Including , Creative Planning boosted its stake in PPC in the latest quarter, The investment management firm added 2,866 additional shares and now holds a total of 10,853 shares of Pilgrim's Pride Corporation which is valued at $275,124. Proficio Capital Partners added PPC to its portfolio by purchasing 11 company shares during the most recent quarter which is valued at $279. Eqis Capital Management sold out all of its stake in PPC during the most recent quarter. The investment firm sold 10,291 shares of PPC which is valued $260,877.

On the company’s financial health, Pilgrim's Pride Corporation reported $0.26 EPS for the quarter, missing the analyst consensus estimate by $ -0.14 based on the information available during the earnings call on Feb 10, 2016. Analyst had a consensus of $0.40. The company had revenue of $1960.80 million for the quarter, compared to analysts expectations of $1947.13 million. The company’s revenue was down -7.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.83 EPS.

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.

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