Intech Investment Management LLC Makes New $566,000 Investment in Pilgrim’s Pride Corporation $PPC

Intech Investment Management LLC acquired a new stake in Pilgrim’s Pride Corporation (NASDAQ:PPC) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 13,898 shares of the company’s stock, valued at approximately $566,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. True Wealth Design LLC lifted its stake in Pilgrim’s Pride by 1,248.5% in the third quarter. True Wealth Design LLC now owns 917 shares of the company’s stock worth $37,000 after purchasing an additional 849 shares during the last quarter. Clearstead Advisors LLC boosted its position in Pilgrim’s Pride by 1,522.6% during the third quarter. Clearstead Advisors LLC now owns 1,006 shares of the company’s stock valued at $41,000 after buying an additional 944 shares during the period. Abich Financial Wealth Management LLC bought a new position in shares of Pilgrim’s Pride during the third quarter valued at about $41,000. Quent Capital LLC purchased a new position in shares of Pilgrim’s Pride in the third quarter worth about $55,000. Finally, Rothschild Investment LLC lifted its stake in shares of Pilgrim’s Pride by 186,700.0% in the 3rd quarter. Rothschild Investment LLC now owns 1,868 shares of the company’s stock valued at $76,000 after acquiring an additional 1,867 shares during the last quarter. Institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Down 3.3%

NASDAQ PPC opened at $37.38 on Thursday. Pilgrim’s Pride Corporation has a 1 year low of $35.73 and a 1 year high of $56.73. The stock has a market capitalization of $8.88 billion, a PE ratio of 8.23 and a beta of 0.41. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.47 and a quick ratio of 0.76. The business’s 50-day moving average is $41.55 and its 200 day moving average is $40.38.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.14). The business had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.39 billion. Pilgrim’s Pride had a net margin of 5.85% and a return on equity of 35.15%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.35 EPS. Sell-side analysts forecast that Pilgrim’s Pride Corporation will post 5.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wall Street Zen cut Pilgrim’s Pride from a “buy” rating to a “hold” rating in a report on Sunday, February 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Pilgrim’s Pride in a research report on Monday, December 29th. BMO Capital Markets increased their price objective on Pilgrim’s Pride from $40.00 to $42.00 and gave the company a “market perform” rating in a research note on Friday, February 13th. Barclays cut their target price on shares of Pilgrim’s Pride from $49.00 to $45.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 9th. Finally, Santander raised shares of Pilgrim’s Pride from a “neutral” rating to an “outperform” rating in a research note on Thursday, December 11th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $44.33.

Insider Activity at Pilgrim’s Pride

In related news, CFO Matthew R. Galvanoni sold 6,963 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $43.52, for a total value of $303,029.76. Following the completion of the sale, the chief financial officer owned 91,397 shares of the company’s stock, valued at $3,977,597.44. This trade represents a 7.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 82.56% of the stock is currently owned by corporate insiders.

Pilgrim’s Pride Company Profile

Pilgrim’s Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim’s Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.

The company’s vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.