Pilgrim’s Pride Co. (NASDAQ:PPC) Shares Sold by Comerica Bank

Comerica Bank lessened its position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 8.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,014 shares of the company’s stock after selling 1,063 shares during the period. Comerica Bank’s holdings in Pilgrim’s Pride were worth $545,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in Pilgrim’s Pride during the 4th quarter worth approximately $59,000. Harbor Capital Advisors Inc. grew its holdings in Pilgrim’s Pride by 132.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 1,344 shares of the company’s stock worth $61,000 after acquiring an additional 765 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Pilgrim’s Pride during the 4th quarter worth approximately $118,000. US Bancorp DE grew its holdings in Pilgrim’s Pride by 23.3% during the 4th quarter. US Bancorp DE now owns 3,445 shares of the company’s stock worth $156,000 after acquiring an additional 650 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Pilgrim’s Pride by 19.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,642 shares of the company’s stock worth $165,000 after acquiring an additional 593 shares in the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on PPC shares. BMO Capital Markets boosted their price target on shares of Pilgrim’s Pride from $47.00 to $48.00 and gave the stock a “market perform” rating in a report on Monday, March 17th. StockNews.com cut shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Finally, Santander assumed coverage on shares of Pilgrim’s Pride in a report on Wednesday, March 5th. They issued a “neutral” rating for the company. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $48.40.

Pilgrim’s Pride Trading Down 2.0%

Shares of Pilgrim’s Pride stock opened at $45.69 on Thursday. The company has a fifty day simple moving average of $51.15 and a 200-day simple moving average of $50.14. Pilgrim’s Pride Co. has a 12-month low of $33.70 and a 12-month high of $57.16. The company has a current ratio of 2.01, a quick ratio of 1.31 and a debt-to-equity ratio of 0.75. The stock has a market cap of $10.83 billion, a price-to-earnings ratio of 10.02 and a beta of 0.51.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings results on Wednesday, April 30th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.26 by $0.05. Pilgrim’s Pride had a net margin of 6.08% and a return on equity of 32.83%. The firm had revenue of $4.46 billion during the quarter, compared to the consensus estimate of $4.53 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. Pilgrim’s Pride’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts forecast that Pilgrim’s Pride Co. will post 5.13 EPS for the current fiscal year.

Pilgrim’s Pride Increases Dividend

The firm also recently declared a special dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 3rd were given a $6.30 dividend. This is an increase from Pilgrim’s Pride’s previous special dividend of $2.75. The ex-dividend date of this dividend was Thursday, April 3rd.

About Pilgrim’s Pride

Pilgrim’s Pride Corp. engages in the production, processing, marketing, and distribution of fresh, frozen and value-added chicken and pork products to retailers, distributors, and foodservice operators. It operates through the following segments: U.S., U.K. and Europe, and Mexico. The company was founded by Lonnie A.