Great West Life Assurance Co. Can acquired a new position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 47,460 shares of the company’s stock, valued at approximately $1,166,000.
Several other large investors also recently bought and sold shares of the stock. New York State Common Retirement Fund grew its position in Pilgrim’s Pride by 4.4% during the 1st quarter. New York State Common Retirement Fund now owns 505,475 shares of the company’s stock worth $12,440,000 after purchasing an additional 21,100 shares during the last quarter. Matarin Capital Management LLC purchased a new position in Pilgrim’s Pride during the 1st quarter worth $254,000. Personal Capital Advisors Corp grew its position in Pilgrim’s Pride by 12.8% during the 1st quarter. Personal Capital Advisors Corp now owns 740,184 shares of the company’s stock worth $18,216,000 after purchasing an additional 83,960 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Pilgrim’s Pride by 4,374.9% in the first quarter. IFP Advisors Inc now owns 58,174 shares of the company’s stock valued at $1,432,000 after acquiring an additional 56,874 shares in the last quarter. Finally, GFS Advisors LLC purchased a new stake in shares of Pilgrim’s Pride in the first quarter valued at about $345,000. 23.89% of the stock is owned by hedge funds and other institutional investors.
Pilgrim’s Pride opened at $20.34 on Wednesday, MarketBeat reports. Pilgrim’s Pride Co. has a 1-year low of $19.25 and a 1-year high of $38.39. The company has a quick ratio of 0.94, a current ratio of 1.80 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $4.93 billion, a PE ratio of 7.04 and a beta of 0.11.
Pilgrim’s Pride (NASDAQ:PPC) last posted its earnings results on Thursday, May 10th. The company reported $0.53 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.53. Pilgrim’s Pride had a return on equity of 44.25% and a net margin of 6.84%. The company had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same quarter last year, the company earned $0.38 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. research analysts anticipate that Pilgrim’s Pride Co. will post 3.04 earnings per share for the current fiscal year.
Several analysts recently commented on PPC shares. Zacks Investment Research upgraded shares of Pilgrim’s Pride from a “sell” rating to a “hold” rating and set a $24.00 price objective for the company in a research note on Wednesday, May 16th. BidaskClub upgraded shares of Pilgrim’s Pride from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 12th. TheStreet cut shares of Pilgrim’s Pride from a “b-” rating to a “c” rating in a research report on Thursday, May 10th. Mizuho assumed coverage on shares of Pilgrim’s Pride in a research report on Thursday, April 5th. They set a “buy” rating and a $29.00 target price for the company. Finally, ValuEngine cut shares of Pilgrim’s Pride from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $27.80.
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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