Principal Financial Group Inc. decreased its holdings in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 5.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,346 shares of the company’s stock after selling 685 shares during the period. Principal Financial Group Inc.’s holdings in Pilgrim’s Pride Corporation were worth $271,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Legal & General Group Plc boosted its stake in shares of Pilgrim’s Pride Corporation by 1.9% in the second quarter. Legal & General Group Plc now owns 18,769 shares of the company’s stock worth $412,000 after acquiring an additional 347 shares during the period. Horrell Capital Management Inc. boosted its stake in shares of Pilgrim’s Pride Corporation by 2.5% in the second quarter. Horrell Capital Management Inc. now owns 27,941 shares of the company’s stock worth $612,000 after acquiring an additional 681 shares during the period. First Midwest Bank Trust Division boosted its stake in shares of Pilgrim’s Pride Corporation by 2.4% in the second quarter. First Midwest Bank Trust Division now owns 30,961 shares of the company’s stock worth $679,000 after acquiring an additional 738 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Pilgrim’s Pride Corporation by 3.8% in the first quarter. Public Employees Retirement System of Ohio now owns 24,643 shares of the company’s stock worth $555,000 after acquiring an additional 897 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of Pilgrim’s Pride Corporation by 7.1% in the first quarter. Sei Investments Co. now owns 27,061 shares of the company’s stock worth $609,000 after acquiring an additional 1,787 shares during the period. 24.33% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently weighed in on PPC. ValuEngine raised Pilgrim’s Pride Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Vertical Group lowered Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th. They noted that the move was a valuation call. Vertical Research lowered Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $27.00 price objective (up previously from $25.00) on shares of Pilgrim’s Pride Corporation in a research note on Friday, October 6th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $24.00 price objective on shares of Pilgrim’s Pride Corporation in a research note on Friday, August 25th. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and three have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $25.00.

Pilgrim’s Pride Corporation (NASDAQ PPC) opened at 29.12 on Monday. The company has a market capitalization of $7.24 billion, a price-to-earnings ratio of 14.69 and a beta of 0.14. The company’s 50-day moving average price is $28.96 and its 200-day moving average price is $25.30. Pilgrim’s Pride Corporation has a 52 week low of $17.15 and a 52 week high of $30.00.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.11. Pilgrim’s Pride Corporation had a return on equity of 49.65% and a net margin of 6.05%. The company had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the previous year, the business earned $0.60 EPS. Pilgrim’s Pride Corporation’s quarterly revenue was up 11.0% on a year-over-year basis. Equities analysts forecast that Pilgrim’s Pride Corporation will post $2.61 earnings per share for the current fiscal year.

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Pilgrim’s Pride Corporation Company Profile

Pilgrim’s Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.

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

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