South Dakota Investment Council lowered its position in Pilgrim’s Pride Co. (NASDAQ:PPC – Get Rating ) by 14.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,006 shares of the company’s stock after selling 12,400 shares during the quarter. South Dakota Investment Board’s holdings in Pilgrim’s Pride were worth $1,807,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Prospera Financial Services Inc acquired a new position in shares of Pilgrim’s Pride in the first quarter valued at approximately $25,000. First Quadrant LLC CA acquired a new position in shares of Pilgrim’s Pride in the first quarter valued at approximately $29,000. Koshinski Asset Management Inc. acquired a new position in shares of Pilgrim’s Pride in the first quarter valued at approximately $50,000. Quent Capital LLC acquired a new position in shares of Pilgrim’s Pride in the fourth quarter valued at approximately $51,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in in shares of Pilgrim’s Pride by 17.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,394 shares of the company’s stock valued at $152,000 after acquiring an additional 810 shares during the period. Institutional investors and hedge funds own 17.97% of the company’s shares.
Insiders place their bets
In other Pilgrim’s Pride news, CEO Fabio Sandri sold 77,741 shares of the stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $34.42, for a total value of $2,675,845.22. Following the completion of the sale, the chief executive officer now owns 293,816 shares in the company, valued at approximately $10,113,146.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed via this link. Insiders own 80.54% of the company’s shares.
Pilgrim’s Pride Trading up 0.4%
Shares of Pilgrim’s Pride stock opened at $30.49 on Monday. The company has a 50-day moving average of $30.67 and a 200-day moving average of $28.42. Pilgrim’s Pride Co. has a 52-week low of $20.23 and a 52-week high of $34.66. The company has a debt-to-equity ratio of 1.17, a quick earnings ratio of 0.87 and a current ratio of 1.62. The firm has a market cap of $7.29 billion, a price-to-earnings ratio of 10.00, a P/E/G ratio of 0.43 and a beta of 0.88.
Pilgrim’s Pride (NASDAQ:PPC – Get Rating ) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.42. Pilgrim’s Pride had a net margin of 4.42% and a return on equity of 35.26%. The firm had revenue of $4.63 billion during the quarter, compared to analysts’ estimates of $4.39 billion. During the same quarter last year, the business reported $0.63 EPS. The company’s revenue increased by 27.3% year-on-year. Analysts predict that Pilgrim’s Pride Co. will post 4.14 EPS for the current year.
Changes in analyst ratings
A number of analysts recently weighed in on PPC shares. StockNews.com raised shares of Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 3rd. TheStreet raised shares of Pilgrim’s Pride from a “c” rating to a “b-” rating in a report on Wednesday, April 27th. Stephens cut shares of Pilgrim’s Pride to an “equal weight” rating in a report on Tuesday, August 9th. Finally, BMO Capital Markets upped their target price on shares of Pilgrim’s Pride from $30.00 to $36.00 in a report on Friday, July 29th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00, according to MarketBeat.com.
For the pilgrim’s pride
Pilgrim’s Pride Corporation is engaged in the manufacturing, processing, marketing and distribution of fresh, frozen and value-added chicken and pork to retailers, distributors and food service operators in the United States, United Kingdom, Mexico, the Middle East, Asia, continental Europe and internationally.
Get news and reviews for Pilgrim’s Pride Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Pilgrim’s Pride and related companies with MarketBeat.com’s FREE daily email newsletter.