Pilgrim’s Pride Co. (PPC) Shares Bought by Spark Investment Management LLC

Spark Investment Management LLC increased its stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 426.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 510,800 shares of the company’s stock after purchasing an additional 413,742 shares during the period. Spark Investment Management LLC’s holdings in Pilgrim’s Pride were worth $11,385,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Public Employees Retirement System of Ohio lifted its holdings in Pilgrim’s Pride by 4.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 15,407 shares of the company’s stock worth $239,000 after buying an additional 693 shares in the last quarter. Rhumbline Advisers lifted its holdings in Pilgrim’s Pride by 2.4% during the 4th quarter. Rhumbline Advisers now owns 47,815 shares of the company’s stock worth $742,000 after buying an additional 1,108 shares in the last quarter. Bank of Montreal Can lifted its holdings in Pilgrim’s Pride by 3.0% during the 1st quarter. Bank of Montreal Can now owns 42,025 shares of the company’s stock worth $937,000 after buying an additional 1,211 shares in the last quarter. Legal & General Group Plc lifted its holdings in Pilgrim’s Pride by 7.2% during the 4th quarter. Legal & General Group Plc now owns 30,356 shares of the company’s stock worth $471,000 after buying an additional 2,047 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Pilgrim’s Pride by 1.8% during the 4th quarter. Van ECK Associates Corp now owns 163,128 shares of the company’s stock worth $2,530,000 after buying an additional 2,926 shares in the last quarter. 18.68% of the stock is owned by hedge funds and other institutional investors.

In related news, CEO William W. Lovette sold 86,425 shares of Pilgrim’s Pride stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $20.30, for a total transaction of $1,754,427.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 78.73% of the stock is owned by company insiders.



Shares of PPC traded down $0.02 during midday trading on Friday, reaching $28.97. The stock had a trading volume of 1,834 shares, compared to its average volume of 948,073. Pilgrim’s Pride Co. has a 1-year low of $14.83 and a 1-year high of $29.32. The firm has a market capitalization of $7.09 billion, a price-to-earnings ratio of 22.65 and a beta of 0.90. The company has a current ratio of 1.68, a quick ratio of 0.83 and a debt-to-equity ratio of 1.19.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.35 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. Pilgrim’s Pride had a net margin of 1.95% and a return on equity of 14.13%. The firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period last year, the business earned $0.53 EPS. Pilgrim’s Pride’s revenue for the quarter was down .8% compared to the same quarter last year. On average, analysts predict that Pilgrim’s Pride Co. will post 1.64 earnings per share for the current fiscal year.

A number of equities research analysts have recently weighed in on the stock. BMO Capital Markets raised their price objective on shares of Pilgrim’s Pride to $31.00 and gave the company an “in-line” rating in a report on Friday, May 3rd. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Pilgrim’s Pride from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Jefferies Financial Group restated a “hold” rating and issued a $19.00 price objective on shares of Pilgrim’s Pride in a report on Sunday, February 17th. BidaskClub upgraded shares of Pilgrim’s Pride from a “hold” rating to a “buy” rating in a report on Saturday, March 9th. Finally, ValuEngine upgraded shares of Pilgrim’s Pride from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Pilgrim’s Pride presently has a consensus rating of “Buy” and an average price target of $24.46.

COPYRIGHT VIOLATION WARNING: This story was first published by Dakota Financial News and is the property of of Dakota Financial News. If you are accessing this story on another website, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The correct version of this story can be accessed at https://dakotafinancialnews.com/2019/05/17/pilgrims-pride-co-ppc-shares-bought-by-spark-investment-management-llc.html.

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.

See Also: What is a Lock-Up Period?

Want to see what other hedge funds are holding PPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pilgrim’s Pride Co. (NASDAQ:PPC).

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

Receive News & Ratings for Pilgrim's Pride Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pilgrim's Pride and related companies with MarketBeat.com's FREE daily email newsletter.