Pilgrim’s Pride Co. (NASDAQ:PPC) Shares Sold by NN Investment Partners Holdings N.V.

NN Investment Partners Holdings N.V. reduced its position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 81.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,800 shares of the company’s stock after selling 16,300 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Pilgrim’s Pride were worth $64,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Mason Street Advisors LLC lifted its position in shares of Pilgrim’s Pride by 1.5% during the 4th quarter. Mason Street Advisors LLC now owns 27,876 shares of the company’s stock worth $912,000 after purchasing an additional 420 shares during the last quarter. Twinbeech Capital LP lifted its position in Pilgrim’s Pride by 5.3% in the first quarter. Twinbeech Capital LP now owns 12,932 shares of the company’s stock valued at $234,000 after acquiring an additional 651 shares during the last quarter. Symmetry Partners LLC lifted its position in Pilgrim’s Pride by 5.2% in the first quarter. Symmetry Partners LLC now owns 16,988 shares of the company’s stock valued at $308,000 after acquiring an additional 843 shares during the last quarter. American International Group Inc. lifted its position in Pilgrim’s Pride by 1.0% in the first quarter. American International Group Inc. now owns 102,339 shares of the company’s stock valued at $1,854,000 after acquiring an additional 1,033 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. lifted its position in Pilgrim’s Pride by 12.1% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 9,863 shares of the company’s stock valued at $220,000 after acquiring an additional 1,063 shares during the last quarter. 18.87% of the stock is owned by institutional investors and hedge funds.

PPC has been the subject of a number of research reports. BMO Capital Markets cut shares of Pilgrim’s Pride from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $36.00 to $21.00 in a research report on Monday, June 29th. Barclays cut shares of Pilgrim’s Pride from an “overweight” rating to an “equal weight” rating and set a $20.00 target price for the company. in a report on Monday, June 29th. BidaskClub cut shares of Pilgrim’s Pride from a “sell” rating to a “strong sell” rating in a report on Saturday, June 6th. Stephens lowered shares of Pilgrim’s Pride from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 3rd. Finally, Goldman Sachs Group dropped their price target on shares of Pilgrim’s Pride from $23.00 to $19.00 in a research note on Thursday, June 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $25.38.

Shares of PPC opened at $15.35 on Friday. The company has a current ratio of 1.89, a quick ratio of 0.99 and a debt-to-equity ratio of 1.19. The firm’s 50-day moving average is $16.83 and its two-hundred day moving average is $20.73. Pilgrim’s Pride Co. has a twelve month low of $14.87 and a twelve month high of $33.67. The firm has a market capitalization of $3.79 billion, a P/E ratio of 14.48, a PEG ratio of 1.25 and a beta of 0.97.

Pilgrim’s Pride (NASDAQ:PPC) last issued its earnings results on Wednesday, July 29th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.13). Pilgrim’s Pride had a return on equity of 7.89% and a net margin of 2.24%. The company had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company’s quarterly revenue was down .7% compared to the same quarter last year. Analysts predict that Pilgrim’s Pride Co. will post 1.82 EPS for the current year.

About Pilgrim’s Pride

Pilgrim's Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products in the United States, the United Kingdom, Europe, and Mexico. The company offers fresh chicken products, including pre-marinated or non-marinated refrigerated (nonfrozen) whole or cut-up chicken; and prepackaged case-ready chicken, such as whole chickens and chicken parts.

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

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