Cornerstone Capital Management Holdings LLC. decreased its position in shares of Pilgrim's Pride Co. (NASDAQ:PPC) by 11.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 637,775 shares of the company’s stock after selling 80,441 shares during the period. Cornerstone Capital Management Holdings LLC. owned about 0.26% of Pilgrim's Pride worth $19,809,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the business. JPMorgan Chase & Co. raised its holdings in Pilgrim's Pride by 14.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,152,325 shares of the company’s stock worth $117,970,000 after purchasing an additional 528,588 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Pilgrim's Pride by 165.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,940,271 shares of the company’s stock worth $60,265,000 after purchasing an additional 1,209,046 shares during the period. TIAA CREF Investment Management LLC raised its holdings in Pilgrim's Pride by 97.4% in the 4th quarter. TIAA CREF Investment Management LLC now owns 1,281,715 shares of the company’s stock worth $39,810,000 after purchasing an additional 632,491 shares during the period. Allianz Asset Management GmbH raised its holdings in Pilgrim's Pride by 42.7% during the fourth quarter. Allianz Asset Management GmbH now owns 981,839 shares of the company’s stock valued at $30,496,000 after acquiring an additional 293,568 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Pilgrim's Pride by 4.3% during the third quarter. Dimensional Fund Advisors LP now owns 934,475 shares of the company’s stock valued at $26,548,000 after acquiring an additional 38,754 shares during the period. Hedge funds and other institutional investors own 25.11% of the company’s stock.
A number of equities research analysts have commented on the company. BidaskClub cut Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 12th. ValuEngine lowered Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 15th. Zacks Investment Research lowered Pilgrim's Pride from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 4th. BMO Capital Markets dropped their price target on Pilgrim's Pride to $31.00 and set a “market perform” rating for the company in a research report on Friday, February 16th. Finally, Morgan Stanley set a $25.00 price target on Pilgrim's Pride and gave the stock a “hold” rating in a research report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Pilgrim's Pride has a consensus rating of “Hold” and an average target price of $28.80.
In other news, CEO William W. Lovette sold 100,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $25.36, for a total transaction of $2,536,000.00. Following the sale, the chief executive officer now directly owns 578,653 shares of the company’s stock, valued at $14,674,640.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 78.81% of the stock is owned by insiders.
NASDAQ:PPC traded up $0.24 during trading hours on Friday, reaching $23.72. The company’s stock had a trading volume of 1,102,981 shares, compared to its average volume of 1,373,650. The company has a market capitalization of $6,139.21, a price-to-earnings ratio of 8.21 and a beta of 0.19. Pilgrim's Pride Co. has a 12 month low of $20.28 and a 12 month high of $38.39. The company has a quick ratio of 0.87, a current ratio of 1.73 and a debt-to-equity ratio of 1.42.
Pilgrim's Pride (NASDAQ:PPC) last released its quarterly earnings results on Wednesday, February 14th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.05. Pilgrim's Pride had a net margin of 7.08% and a return on equity of 49.74%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.56 billion. sell-side analysts expect that Pilgrim's Pride Co. will post 3.07 EPS for the current year.
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Pilgrim's Pride Profile
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.
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