Vanguard Group Inc. Sells 108,470 Shares of Pilgrim’s Pride Corporation (PPC)

Vanguard Group Inc. trimmed its position in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 2.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,818,184 shares of the company’s stock after selling 108,470 shares during the period. Vanguard Group Inc. owned approximately 1.94% of Pilgrim’s Pride Corporation worth $105,615,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of PPC. Seven Eight Capital LP bought a new stake in Pilgrim’s Pride Corporation during the 2nd quarter worth approximately $134,000. Amalgamated Bank bought a new position in shares of Pilgrim’s Pride Corporation in the second quarter valued at approximately $219,000. Regentatlantic Capital LLC bought a new position in shares of Pilgrim’s Pride Corporation in the second quarter valued at approximately $220,000. TrimTabs Asset Management LLC grew its holdings in shares of Pilgrim’s Pride Corporation by 105.0% in the second quarter. TrimTabs Asset Management LLC now owns 10,281 shares of the company’s stock valued at $225,000 after acquiring an additional 5,265 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new position in shares of Pilgrim’s Pride Corporation in the second quarter valued at approximately $246,000. 24.10% of the stock is owned by institutional investors and hedge funds.

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Several research firms have recently issued reports on PPC. BidaskClub lowered Pilgrim’s Pride Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday. KeyCorp assumed coverage on Pilgrim’s Pride Corporation in a research note on Tuesday, October 31st. They issued a “hold” rating on the stock. Jefferies Group LLC reiterated a “hold” rating and issued a $27.00 price objective (up previously from $25.00) on shares of Pilgrim’s Pride Corporation in a research note on Friday, October 6th. ValuEngine upgraded Pilgrim’s Pride Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Finally, BMO Capital Markets restated a “hold” rating and set a $24.00 target price on shares of Pilgrim’s Pride Corporation in a research report on Friday, August 25th. Six research analysts have rated the stock with a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $29.20.

Pilgrim’s Pride Corporation (NASDAQ PPC) traded up $0.61 during trading on Friday, hitting $34.53. 931,400 shares of the stock traded hands, compared to its average volume of 1,292,159. The company has a market capitalization of $8,437.68, a PE ratio of 13.15 and a beta of 0.21. The company has a current ratio of 1.65, a quick ratio of 0.84 and a debt-to-equity ratio of 1.49. Pilgrim’s Pride Corporation has a 52-week low of $17.15 and a 52-week high of $35.00.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last released its earnings results on Tuesday, November 7th. The company reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.21. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Pilgrim’s Pride Corporation had a return on equity of 53.62% and a net margin of 7.03%. The firm’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 earnings per share. equities research analysts forecast that Pilgrim’s Pride Corporation will post 2.68 EPS for the current year.

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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