Vident Investment Advisory LLC Buys 9,799 Shares of Pilgrim's Pride Co. (PPC)

Vident Investment Advisory LLC increased its position in Pilgrim's Pride Co. (NASDAQ:PPC) by 9.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,592 shares of the company’s stock after acquiring an additional 9,799 shares during the quarter. Vident Investment Advisory LLC’s holdings in Pilgrim's Pride were worth $3,621,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PPC. Arrowstreet Capital Limited Partnership increased 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 acquiring an additional 1,209,046 shares in the last quarter. TIAA CREF Investment Management LLC increased 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 acquiring an additional 632,491 shares in the last quarter. JPMorgan Chase & Co. increased 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 acquiring an additional 528,588 shares in the last quarter. Schroder Investment Management Group increased its holdings in Pilgrim's Pride by 2,806.0% in the 3rd quarter. Schroder Investment Management Group now owns 531,800 shares of the company’s stock worth $15,109,000 after acquiring an additional 513,500 shares in the last quarter. Finally, Prudential Financial Inc. increased its holdings in Pilgrim's Pride by 151.0% in the 3rd quarter. Prudential Financial Inc. now owns 759,645 shares of the company’s stock worth $21,582,000 after acquiring an additional 457,000 shares in the last quarter. 25.11% of the stock is owned by institutional investors.

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Shares of NASDAQ PPC traded up $0.24 during midday trading on Friday, reaching $23.72. 1,102,981 shares of the stock traded hands, compared to its average volume of 1,375,909. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.87 and a current ratio of 1.73. The company has a market capitalization of $5,900.42, a P/E ratio of 8.21 and a beta of 0.19. Pilgrim's Pride Co. has a one year low of $20.28 and a one year high of $38.39.

Pilgrim's Pride (NASDAQ:PPC) last posted its earnings results on Wednesday, February 14th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.56 billion. Pilgrim's Pride had a return on equity of 49.74% and a net margin of 7.08%. equities analysts predict that Pilgrim's Pride Co. will post 3.07 EPS for the current fiscal year.

Several research firms have weighed in on PPC. BidaskClub downgraded Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 12th. ValuEngine downgraded Pilgrim's Pride from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 15th. Zacks Investment Research downgraded Pilgrim's Pride from a “strong-buy” rating to a “hold” rating in a research note 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 note 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 note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $28.80.

In other news, CEO William W. Lovette sold 100,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $25.36, for a total transaction of $2,536,000.00. Following the completion of the transaction, the chief executive officer now directly owns 578,653 shares in the company, valued at approximately $14,674,640.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 78.81% of the stock is currently owned by corporate insiders.

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Pilgrim's Pride Company 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.

Institutional Ownership by Quarter for Pilgrim's Pride (NASDAQ:PPC)

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