Pilgrim’s Pride Co. (NASDAQ:PPC) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lessened its stake in Pilgrim’s Pride Co. (NASDAQ:PPC) by 97.4% during the second quarter, HoldingsChannel.com reports. The firm owned 22,344 shares of the company’s stock after selling 836,563 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Pilgrim’s Pride were worth $567,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. raised its stake in Pilgrim’s Pride by 12.1% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 9,863 shares of the company’s stock worth $220,000 after acquiring an additional 1,063 shares during the period. NEXT Financial Group Inc acquired a new stake in Pilgrim’s Pride during the second quarter worth about $176,000. New York State Teachers Retirement System acquired a new stake in Pilgrim’s Pride during the second quarter worth about $119,000. Machina Capital S.A.S. acquired a new stake in Pilgrim’s Pride during the second quarter worth about $396,000. Finally, Robeco Institutional Asset Management B.V. acquired a new stake in Pilgrim’s Pride during the second quarter worth about $3,154,000. Institutional investors and hedge funds own 19.75% of the company’s stock.

NASDAQ PPC traded down $0.41 on Monday, hitting $30.26. The stock had a trading volume of 7,901 shares, compared to its average volume of 1,518,649. Pilgrim’s Pride Co. has a one year low of $14.83 and a one year high of $32.71. The company has a quick ratio of 0.93, a current ratio of 1.78 and a debt-to-equity ratio of 1.11. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of 23.74 and a beta of 0.75. The company’s 50-day moving average is $30.89 and its two-hundred day moving average is $27.49.

Pilgrim’s Pride (NASDAQ:PPC) last posted its earnings results on Wednesday, July 31st. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.60 by $0.09. Pilgrim’s Pride had a net margin of 2.53% and a return on equity of 15.58%. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same quarter in the prior year, the firm earned $0.53 EPS. Pilgrim’s Pride’s quarterly revenue was up .2% on a year-over-year basis. On average, sell-side analysts anticipate that Pilgrim’s Pride Co. will post 1.97 earnings per share for the current year.

PPC has been the topic of several research reports. Zacks Investment Research lowered shares of Pilgrim’s Pride from a “strong-buy” rating to a “hold” rating and set a $37.00 price objective on the stock. in a research note on Tuesday, October 1st. BMO Capital Markets upgraded shares of Pilgrim’s Pride from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $31.00 to $36.00 in a research note on Tuesday, August 20th. Stephens increased their price objective on shares of Pilgrim’s Pride from $33.00 to $35.00 and gave the stock an “overweight” rating in a research note on Thursday, September 19th. Mizuho increased their price objective on shares of Pilgrim’s Pride from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, ValuEngine lowered shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $32.20.

In other news, CFO Fabio Sandri sold 74,710 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $28.27, for a total value of $2,112,051.70. Following the completion of the transaction, the chief financial officer now directly owns 326,363 shares in the company, valued at $9,226,282.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jayson Penn sold 51,222 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $28.29, for a total transaction of $1,449,070.38. Following the completion of the transaction, the chief executive officer now owns 204,408 shares of the company’s stock, valued at $5,782,702.32. The disclosure for this sale can be found here. 78.73% of the stock is currently owned by corporate insiders.

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

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