Pilgrim’s Pride Co. (NASDAQ:PPC) Shares Sold by New York State Teachers Retirement System

Posted by Defense World Staff on Oct 27th, 2023

New York State Teachers Retirement System lowered its stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC – Free Report) by 22.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,184 shares of the company’s stock after selling 4,900 shares during the period. New York State Teachers Retirement System’s holdings in Pilgrim’s Pride were worth $369,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PPC. Raymond James Financial Services Advisors Inc. boosted its stake in Pilgrim’s Pride by 284.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 50,290 shares of the company’s stock worth $1,262,000 after buying an additional 37,215 shares during the last quarter. Cetera Advisor Networks LLC acquired a new position in shares of Pilgrim’s Pride in the 1st quarter valued at $441,000. PNC Financial Services Group Inc. lifted its stake in shares of Pilgrim’s Pride by 30.1% in the 1st 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 during the last quarter. Bank of Montreal Can acquired a new position in shares of Pilgrim’s Pride in the 1st quarter valued at $551,000. Finally, MetLife Investment Management LLC lifted its stake in shares of Pilgrim’s Pride by 37.0% in the 1st quarter. MetLife Investment Management LLC now owns 32,362 shares of the company’s stock valued at $812,000 after purchasing an additional 8,745 shares during the last quarter. Institutional investors and hedge funds own 16.43% of the company’s stock.

Pilgrim’s Pride Price Performance

PPC opened at $24.38 on Friday. The stock’s 50-day moving average price is $24.16 and its 200 day moving average price is $23.46. Pilgrim’s Pride Co. has a 12-month low of $19.96 and a 12-month high of $26.57. The company has a current ratio of 1.72, a quick ratio of 0.91 and a debt-to-equity ratio of 1.20. The firm has a market cap of $5.77 billion, a price-to-earnings ratio of 35.33 and a beta of 1.00.

Pilgrim’s Pride (NASDAQ:PPC – Get Free Report) last posted its quarterly earnings results on Wednesday, October 25th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.07. The company had revenue of $4.36 billion for the quarter. Pilgrim’s Pride had a return on equity of 9.33% and a net margin of 0.99%. As a group, sell-side analysts expect that Pilgrim’s Pride Co. will post 1.27 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PPC shares. TheStreet lowered Pilgrim’s Pride from a “b-” rating to a “c” rating in a research note on Wednesday. StockNews.com began coverage on Pilgrim’s Pride in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, BMO Capital Markets raised Pilgrim’s Pride from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $26.00 to $28.00 in a research note on Thursday, July 13th. Two equities research 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 company has an average rating of “Moderate Buy” and an average target price of $26.00.

Check Out Our Latest Stock Analysis on Pilgrim’s Pride

Pilgrim’s Pride Profile

(Free Report)

Pilgrim's Pride Corporation engages in the production, processing, marketing and distribution of fresh, frozen and value-added chicken, and pork products to retailers, distributors, and foodservice operators in the United States, the United Kingdom, Mexico, the Middle East, Asia, Continental Europe, and internationally.