Investors Research Corp Has $790,000 Stock Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

Investors Research Corp reduced its position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,650 shares of the company’s stock after selling 500 shares during the quarter. Investors Research Corp’s holdings in Pilgrim’s Pride were worth $790,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Destination Wealth Management purchased a new position in shares of Pilgrim’s Pride in the second quarter worth about $53,000. Point72 Hong Kong Ltd purchased a new position in shares of Pilgrim’s Pride during the second quarter worth approximately $82,000. New York State Teachers Retirement System purchased a new position in shares of Pilgrim’s Pride during the second quarter worth approximately $119,000. Meeder Asset Management Inc. purchased a new position in shares of Pilgrim’s Pride during the second quarter worth approximately $138,000. Finally, ClariVest Asset Management LLC purchased a new position in shares of Pilgrim’s Pride during the second quarter worth approximately $169,000. 19.76% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Jayson Penn sold 51,222 shares of Pilgrim’s Pride stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $28.29, for a total value of $1,449,070.38. Following the sale, the chief executive officer now owns 204,408 shares in the company, valued at $5,782,702.32. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Fabio Sandri sold 74,710 shares of Pilgrim’s Pride stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $28.27, for a total transaction of $2,112,051.70. Following the completion of the sale, the chief financial officer now owns 326,363 shares in the company, valued at approximately $9,226,282.01. The disclosure for this sale can be found here. 78.73% of the stock is currently owned by insiders.

A number of equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Pilgrim’s Pride from a “strong-buy” rating to a “hold” rating and set a $37.00 price objective on the stock. in a research note on Tuesday, October 1st. Mizuho raised their target price on shares of Pilgrim’s Pride from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Stephens raised their target price on shares of Pilgrim’s Pride from $33.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, September 19th. BidaskClub downgraded shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 16th. Finally, Peel Hunt restated an “add” rating on shares of Pilgrim’s Pride in a research note on Monday. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $32.20.

PPC traded down $0.42 on Tuesday, reaching $27.98. The stock had a trading volume of 27,800 shares, compared to its average volume of 998,291. Pilgrim’s Pride Co. has a 12-month low of $14.83 and a 12-month high of $32.71. The company has a current ratio of 1.78, a quick ratio of 0.93 and a debt-to-equity ratio of 1.11. The business’s 50-day moving average price is $30.71 and its two-hundred day moving average price is $27.87. The company has a market cap of $7.09 billion, a P/E ratio of 21.84 and a beta of 0.75.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.09. Pilgrim’s Pride had a net margin of 2.53% and a return on equity of 15.58%. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same quarter in the previous year, the company earned $0.53 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. As a group, analysts predict that Pilgrim’s Pride Co. will post 1.97 earnings per share for the current year.

Pilgrim’s Pride Profile

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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