Fideuram Intesa Sanpaolo Private Banking S.P.A. Acquires New Holdings in Pilgrim’s Pride Corporation $PPC

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) in the first quarter, HoldingsChannel reports. The firm bought 38,105 shares of the company’s stock, valued at approximately $1,439,000.

A number of other large investors have also bought and sold shares of the business. New York State Common Retirement Fund lifted its stake in Pilgrim’s Pride by 1.3% in the second quarter. New York State Common Retirement Fund now owns 17,817 shares of the company’s stock valued at $801,000 after buying an additional 230 shares in the last quarter. Commerce Bank boosted its holdings in shares of Pilgrim’s Pride by 4.4% in the fourth quarter. Commerce Bank now owns 5,792 shares of the company’s stock valued at $226,000 after buying an additional 246 shares during the period. Signaturefd LLC increased its position in shares of Pilgrim’s Pride by 23.5% during the fourth quarter. Signaturefd LLC now owns 1,350 shares of the company’s stock worth $53,000 after acquiring an additional 257 shares in the last quarter. Kendall Capital Management increased its position in shares of Pilgrim’s Pride by 4.3% during the third quarter. Kendall Capital Management now owns 6,385 shares of the company’s stock worth $260,000 after acquiring an additional 265 shares in the last quarter. Finally, HB Wealth Management LLC raised its holdings in shares of Pilgrim’s Pride by 5.1% during the fourth quarter. HB Wealth Management LLC now owns 5,939 shares of the company’s stock worth $232,000 after acquiring an additional 290 shares during the period. 16.64% of the stock is owned by institutional investors.

Pilgrim’s Pride Stock Performance

Shares of PPC opened at $28.76 on Friday. The company has a market cap of $6.84 billion, a PE ratio of 7.71 and a beta of 0.29. The firm has a 50-day moving average of $29.17 and a 200-day moving average of $35.82. Pilgrim’s Pride Corporation has a one year low of $26.50 and a one year high of $50.56. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.48 and a quick ratio of 0.73.

Pilgrim’s Pride (NASDAQ:PPC) last issued its earnings results on Wednesday, April 29th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.18). Pilgrim’s Pride had a net margin of 4.78% and a return on equity of 28.57%. The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same period in the previous year, the company posted $1.31 earnings per share. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, equities analysts forecast that Pilgrim’s Pride Corporation will post 3.52 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. BMO Capital Markets cut their price objective on shares of Pilgrim’s Pride from $42.00 to $40.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 25th. UBS Group started coverage on Pilgrim’s Pride in a report on Tuesday, May 19th. They set a “neutral” rating and a $30.00 target price for the company. Barclays raised Pilgrim’s Pride from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $45.00 to $42.00 in a research note on Friday, May 1st. Stephens set a $40.00 price target on Pilgrim’s Pride in a report on Wednesday, April 15th. Finally, The Goldman Sachs Group reduced their price objective on Pilgrim’s Pride from $44.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, April 9th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $36.83.

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.