American International Group Inc. Sells 1,709 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Posted by on Jun 7th, 2023

American International Group Inc. cut its stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC – Get Rating) by 2.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,112 shares of the company’s stock after selling 1,709 shares during the quarter. American International Group Inc.’s holdings in Pilgrim’s Pride were worth $1,664,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Captrust Financial Advisors raised its position in Pilgrim’s Pride by 114.3% in the second quarter. Captrust Financial Advisors now owns 1,479 shares of the company’s stock valued at $46,000 after purchasing an additional 789 shares during the last quarter. Ronald Blue Trust Inc. raised its holdings in Pilgrim’s Pride by 48.0% in the 4th quarter. Ronald Blue Trust Inc. now owns 2,112 shares of the company’s stock valued at $48,000 after buying an additional 685 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Pilgrim’s Pride by 30.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,054 shares of the company’s stock worth $52,000 after buying an additional 475 shares during the period. Atlas Capital Advisors LLC bought a new stake in Pilgrim’s Pride during the 2nd quarter worth approximately $53,000. Finally, Point72 Hong Kong Ltd acquired a new position in Pilgrim’s Pride in the 3rd quarter valued at approximately $67,000. 16.81% of the stock is currently owned by institutional investors and hedge funds.

Pilgrim’s Pride Trading Up 1.2 %

Shares of PPC stock opened at $22.84 on Wednesday. Pilgrim’s Pride Co. has a fifty-two week low of $20.59 and a fifty-two week high of $33.96. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.72 and a current ratio of 1.53. The stock has a 50 day simple moving average of $22.77 and a two-hundred day simple moving average of $23.84. The company has a market cap of $5.41 billion, a P/E ratio of 11.77, a PEG ratio of 3.58 and a beta of 0.99.

Pilgrim’s Pride (NASDAQ:PPC – Get Rating) last released its quarterly earnings data on Wednesday, April 26th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.09. The company had revenue of $4.17 billion during the quarter, compared to analyst estimates of $4.11 billion. Pilgrim’s Pride had a net margin of 2.71% and a return on equity of 18.83%. Pilgrim’s Pride’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.18 EPS. Research analysts forecast that Pilgrim’s Pride Co. will post 1.07 earnings per share for the current year.

Analysts Set New Price Targets

PPC has been the topic of several analyst reports. StockNews.com started coverage on shares of Pilgrim’s Pride in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Bank of America raised Pilgrim’s Pride from a “neutral” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Friday, April 28th. TheStreet lowered Pilgrim’s Pride from a “b-” rating to a “c” rating in a research note on Thursday, April 27th. Barclays decreased their target price on shares of Pilgrim’s Pride from $28.00 to $27.00 in a research report on Thursday, June 1st. Finally, BMO Capital Markets assumed coverage on shares of Pilgrim’s Pride in a research report on Thursday, April 13th. They issued a “market perform” rating and a $26.00 price target on the stock. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $26.00.

Pilgrim’s Pride Company Profile

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

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