Vanguard Personalized Indexing Management LLC purchased a new position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC – Get Rating) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 8,711 shares of the company’s stock, valued at approximately $207,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arizona State Retirement System grew its position in shares of Pilgrim’s Pride by 3.3% during the 4th quarter. Arizona State Retirement System now owns 13,490 shares of the company’s stock worth $320,000 after buying an additional 428 shares during the period. PNC Financial Services Group Inc. increased its stake in Pilgrim’s Pride by 30.1% in the first quarter. PNC Financial Services Group Inc. now owns 2,054 shares of the company’s stock valued at $52,000 after purchasing an additional 475 shares in the last quarter. Yousif Capital Management LLC raised its holdings in Pilgrim’s Pride by 1.9% in the first quarter. Yousif Capital Management LLC now owns 26,168 shares of the company’s stock worth $657,000 after purchasing an additional 480 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of Pilgrim’s Pride by 2.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 20,541 shares of the company’s stock worth $487,000 after purchasing an additional 560 shares in the last quarter. Finally, PAX Financial Group LLC grew its holdings in shares of Pilgrim’s Pride by 3.6% in the 3rd quarter. PAX Financial Group LLC now owns 18,619 shares of the company’s stock valued at $429,000 after buying an additional 648 shares during the period. 16.81% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have weighed in on PPC shares. StockNews.com assumed coverage on Pilgrim’s Pride in a report on Thursday, May 18th. They set a “hold” rating on the stock. Bank of America upgraded Pilgrim’s Pride from a “neutral” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Friday, April 28th. TheStreet cut Pilgrim’s Pride from a “b-” rating to a “c” rating in a research note on Thursday, April 27th. Stephens reaffirmed an “equal weight” rating and issued a $23.00 price target on shares of Pilgrim’s Pride in a research note on Thursday, February 9th. Finally, BMO Capital Markets assumed coverage on shares of Pilgrim’s Pride in a research report on Thursday, April 13th. They set a “market perform” rating and a $26.00 price objective for the company. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $26.20.
Pilgrim’s Pride Stock Down 1.5 %
Pilgrim’s Pride (NASDAQ:PPC – Get Rating) last released its earnings results on Wednesday, April 26th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.09. Pilgrim’s Pride had a net margin of 2.71% and a return on equity of 18.83%. The business had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.11 billion. During the same quarter last year, the firm earned $1.18 earnings per share. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, analysts predict that Pilgrim’s Pride Co. will post 1.07 earnings per share for the current fiscal year.
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.
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