LPL Financial LLC grew its holdings in Pilgrim’s Pride (NASDAQ:PPC) by 12.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,164 shares of the company’s stock after buying an additional 2,030 shares during the period. LPL Financial LLC’s holdings in Pilgrim’s Pride were worth $564,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Allianz Asset Management GmbH grew its stake in shares of Pilgrim’s Pride by 42.7% in the 4th quarter. Allianz Asset Management GmbH now owns 981,839 shares of the company’s stock worth $30,496,000 after buying an additional 293,568 shares in the last quarter. MANA Advisors LLC purchased a new position in shares of Pilgrim’s Pride during the 4th quarter worth about $519,000. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Pilgrim’s Pride during the 4th quarter worth about $4,634,000. OxFORD Asset Management LLP purchased a new position in shares of Pilgrim’s Pride during the 3rd quarter worth about $715,000. Finally, Investors Research Corp purchased a new position in shares of Pilgrim’s Pride during the 4th quarter worth about $812,000. 25.08% of the stock is owned by institutional investors and hedge funds.
In related news, CEO William W. Lovette sold 100,000 shares of Pilgrim’s Pride stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 578,653 shares in the company, valued at approximately $14,674,640.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 78.81% of the company’s stock.
A number of equities analysts recently commented on the stock. Vertical Group raised shares of Pilgrim’s Pride from a “hold” rating to a “buy” rating in a research note on Wednesday, March 14th. Mizuho assumed coverage on shares of Pilgrim’s Pride in a research note on Thursday, April 5th. They set a “buy” rating and a $29.00 price target for the company. ValuEngine cut shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. BMO Capital Markets dropped their price target on shares of Pilgrim’s Pride to $31.00 and set a “market perform” rating for the company in a research note on Friday, February 16th. Finally, Zacks Investment Research raised shares of Pilgrim’s Pride from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Thursday, March 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $28.80.
PPC stock opened at $24.07 on Tuesday. Pilgrim’s Pride has a 12 month low of $20.28 and a 12 month high of $38.39. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.73 and a quick ratio of 0.87. The stock has a market cap of $5,943.17, a P/E ratio of 8.33 and a beta of 0.19.
Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.56 billion. research analysts expect that Pilgrim’s Pride will post 3.07 earnings per share for the current year.
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About Pilgrim’s Pride
Pilgrim's Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products in the United States, the United Kingdom, Europe, and Mexico. The company offers fresh chicken products, including pre-marinated or non-marinated refrigerated (nonfrozen) whole or cut-up chicken; and prepackaged case-ready chicken, such as whole chickens and chicken parts.
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