Russell Investments Group Ltd. Sells 37,834 Shares of Pilgrim’s Pride Co. (PPC)

Russell Investments Group Ltd. cut its holdings in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 18.4% in the first quarter, Holdings Channel reports. The institutional investor owned 167,969 shares of the company’s stock after selling 37,834 shares during the quarter. Russell Investments Group Ltd.’s holdings in Pilgrim’s Pride were worth $4,133,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. LPL Financial LLC raised its position in Pilgrim’s Pride by 12.6% during the 4th quarter. LPL Financial LLC now owns 18,164 shares of the company’s stock worth $564,000 after buying an additional 2,030 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Pilgrim’s Pride by 8.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 37,005 shares of the company’s stock worth $1,149,000 after buying an additional 2,987 shares during the last quarter. Alps Advisors Inc. raised its position in Pilgrim’s Pride by 20.9% during the 1st quarter. Alps Advisors Inc. now owns 19,615 shares of the company’s stock worth $483,000 after buying an additional 3,385 shares during the last quarter. CoreCommodity Management LLC raised its position in Pilgrim’s Pride by 6.9% during the 4th quarter. CoreCommodity Management LLC now owns 61,296 shares of the company’s stock worth $1,904,000 after buying an additional 3,933 shares during the last quarter. Finally, Advisors Preferred LLC purchased a new position in Pilgrim’s Pride during the 1st quarter worth approximately $100,000. 23.89% of the stock is owned by institutional investors.

Pilgrim’s Pride opened at $20.13 on Friday, Marketbeat Ratings reports. The company has a quick ratio of 0.94, a current ratio of 1.80 and a debt-to-equity ratio of 1.29. The company has a market cap of $4.99 billion, a PE ratio of 6.97 and a beta of 0.11. Pilgrim’s Pride Co. has a 1-year low of $19.25 and a 1-year high of $38.39.

Pilgrim’s Pride (NASDAQ:PPC) last posted its earnings results on Thursday, May 10th. The company reported $0.53 earnings per share for the quarter, meeting the consensus estimate of $0.53. The firm had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.65 billion. Pilgrim’s Pride had a net margin of 6.84% and a return on equity of 44.25%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS. analysts expect that Pilgrim’s Pride Co. will post 3.04 earnings per share for the current fiscal year.

PPC has been the subject of a number of recent research reports. Mizuho initiated coverage on shares of Pilgrim’s Pride in a research report on Wednesday, March 28th. They set a “buy” rating and a $29.00 price target for the company. 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 report on Thursday, March 15th. Vertical Group raised shares of Pilgrim’s Pride from a “hold” rating to a “buy” rating in a research report on Wednesday, March 14th. TheStreet lowered shares of Pilgrim’s Pride from a “b-” rating to a “c” rating in a research report on Thursday, May 10th. Finally, ValuEngine lowered shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $27.80.

Pilgrim’s Pride Profile

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

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