Commonwealth Equity Services LLC increased its position in Pilgrim’s Pride Co. (NASDAQ:PPC) by 6.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 12,215 shares of the company’s stock after purchasing an additional 775 shares during the period. Commonwealth Equity Services LLC’s holdings in Pilgrim’s Pride were worth $290,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Inspire Advisors LLC acquired a new stake in shares of Pilgrim’s Pride during the 4th quarter valued at $27,000. Graves Light Private Wealth Management Inc. acquired a new stake in shares of Pilgrim’s Pride during the 4th quarter valued at $28,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Pilgrim’s Pride by 30.4% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 5,086 shares of the company’s stock valued at $100,000 after buying an additional 1,187 shares during the period. Handelsbanken Fonder AB acquired a new stake in shares of Pilgrim’s Pride during the 1st quarter valued at $226,000. Finally, Alpha Paradigm Partners LLC acquired a new stake in shares of Pilgrim’s Pride during the 4th quarter valued at $188,000. 15.95% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Matthew R. Galvanoni sold 2,951 shares of Pilgrim’s Pride stock in a transaction on Tuesday, April 6th. The shares were sold at an average price of $24.16, for a total value of $71,296.16. Following the transaction, the chief financial officer now owns 6,508 shares in the company, valued at approximately $157,233.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 80.54% of the company’s stock.
Pilgrim’s Pride (NASDAQ:PPC) last announced its earnings results on Wednesday, April 28th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.35 by $0.07. The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.25 billion. Pilgrim’s Pride had a net margin of 1.04% and a return on equity of 12.83%. The business’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.12 EPS. Sell-side analysts anticipate that Pilgrim’s Pride Co. will post 2.06 earnings per share for the current fiscal year.
A number of brokerages have issued reports on PPC. Zacks Investment Research lowered shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating and set a $25.00 target price for the company. in a research note on Tuesday, April 6th. Barclays lifted their target price on shares of Pilgrim’s Pride from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, June 3rd. Finally, BMO Capital Markets lifted their price objective on shares of Pilgrim’s Pride from $21.00 to $28.00 and gave the company a “market perform” rating in a research note on Friday, April 30th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $26.20.
Pilgrim’s Pride Profile
Pilgrim's Pride Corporation produces, processes, markets, and distributes fresh, frozen, and value-added chicken and pork products to retailers, distributors, and foodservice operators in the United States, the United Kingdom, Mexico, France, Puerto Rico, the Netherlands, rest of Europe, the Middle East, Asia, and internationally.
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