SG Americas Securities LLC Buys 4,962 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

SG Americas Securities LLC boosted its stake in Pilgrim’s Pride Co. (NASDAQ:PPCGet Rating) by 124.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 8,952 shares of the company’s stock after buying an additional 4,962 shares during the period. SG Americas Securities LLC’s holdings in Pilgrim’s Pride were worth $280,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of PPC. Empyrean Capital Partners LP acquired a new stake in Pilgrim’s Pride in the 1st quarter worth about $37,437,000. Candlestick Capital Management LP bought a new stake in shares of Pilgrim’s Pride during the 1st quarter worth approximately $26,983,000. Atlas FRM LLC bought a new position in Pilgrim’s Pride in the first quarter valued at approximately $21,335,000. Allspring Global Investments Holdings LLC lifted its stake in Pilgrim’s Pride by 89.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 990,020 shares of the company’s stock worth $30,918,000 after purchasing an additional 467,270 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Pilgrim’s Pride by 71.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,077,050 shares of the company’s stock valued at $27,034,000 after purchasing an additional 447,019 shares in the last quarter. 16.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Pilgrim’s Pride

In related news, CEO Fabio Sandri sold 33,471 shares of Pilgrim’s Pride stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $30.06, for a total transaction of $1,006,138.26. Following the sale, the chief executive officer now directly owns 260,345 shares in the company, valued at $7,825,970.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 80.36% of the company’s stock.

Analysts Set New Price Targets

PPC has been the subject of several research analyst reports. raised Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 4th. Stephens downgraded Pilgrim’s Pride to an “equal weight” rating in a report on Tuesday, August 9th. Barclays dropped their target price on Pilgrim’s Pride from $36.00 to $29.00 and set an “overweight” rating for the company in a research report on Tuesday, October 25th. BMO Capital Markets lifted their price target on shares of Pilgrim’s Pride from $30.00 to $36.00 in a report on Friday, July 29th. Finally, The Goldman Sachs Group lowered their target price on Pilgrim’s Pride from $32.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday, October 18th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

Pilgrim’s Pride Trading Up 0.1 %

NASDAQ:PPC opened at $25.34 on Wednesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.55 and a quick ratio of 0.80. Pilgrim’s Pride Co. has a one year low of $20.23 and a one year high of $34.66. The company has a market cap of $5.99 billion, a PE ratio of 6.53, a PEG ratio of 1.09 and a beta of 0.94. The firm has a 50-day moving average of $24.17 and a 200-day moving average of $28.22.

Pilgrim’s Pride (NASDAQ:PPCGet Rating) last announced its earnings results on Wednesday, October 26th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.22. The company had revenue of $4.47 billion for the quarter, compared to analysts’ expectations of $4.48 billion. Pilgrim’s Pride had a return on equity of 38.44% and a net margin of 5.40%. Pilgrim’s Pride’s quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.67 earnings per share. As a group, equities research analysts expect that Pilgrim’s Pride Co. will post 3.82 EPS for the current fiscal year.

Pilgrim’s Pride Profile

(Get Rating)

Pilgrim's Pride Corporation engages in the production, processing, marketing and distribution of fresh, frozen and value-added chicken, and pork products to retailers, distributors, and foodservice operators in the United States, the United Kingdom, Mexico, the Middle East, Asia, Continental Europe, and internationally.

See Also

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

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