Cornerstone Capital Management Holdings LLC. reduced its holdings in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 4.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 702,178 shares of the company’s stock after selling 30,719 shares during the period. Cornerstone Capital Management Holdings LLC. owned about 0.28% of Pilgrim’s Pride Corporation worth $15,391,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PPC. Bank of New York Mellon Corp boosted its position in shares of Pilgrim’s Pride Corporation by 13.4% during the 1st quarter. Bank of New York Mellon Corp now owns 569,457 shares of the company’s stock valued at $12,816,000 after acquiring an additional 67,163 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Pilgrim’s Pride Corporation by 6.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,668 shares of the company’s stock valued at $105,000 after acquiring an additional 267 shares in the last quarter. Sei Investments Co. boosted its position in shares of Pilgrim’s Pride Corporation by 7.1% during the 1st quarter. Sei Investments Co. now owns 27,061 shares of the company’s stock valued at $609,000 after acquiring an additional 1,787 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Pilgrim’s Pride Corporation by 41.6% during the 1st quarter. Pacer Advisors Inc. now owns 11,777 shares of the company’s stock valued at $265,000 after acquiring an additional 3,457 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Pilgrim’s Pride Corporation by 35.9% during the 1st quarter. Victory Capital Management Inc. now owns 202,204 shares of the company’s stock valued at $4,551,000 after acquiring an additional 53,413 shares in the last quarter. Institutional investors and hedge funds own 24.33% of the company’s stock.

Shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) traded down 1.37% during trading on Friday, reaching $28.75. 1,608,224 shares of the company traded hands. The company has a 50-day moving average of $28.89 and a 200-day moving average of $25.01. Pilgrim’s Pride Corporation has a 12 month low of $17.15 and a 12 month high of $30.00. The stock has a market capitalization of $7.15 billion, a PE ratio of 14.51 and a beta of 0.14.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.11. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.28 billion. Pilgrim’s Pride Corporation had a net margin of 6.05% and a return on equity of 49.65%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 earnings per share. Analysts forecast that Pilgrim’s Pride Corporation will post $2.61 earnings per share for the current fiscal year.

PPC has been the subject of several analyst reports. ValuEngine raised shares of Pilgrim’s Pride Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Vertical Group downgraded shares of Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, September 5th. They noted that the move was a valuation call. Vertical Research downgraded shares of Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, September 5th. Jefferies Group LLC reissued a “hold” rating and set a $27.00 price target (up from $25.00) on shares of Pilgrim’s Pride Corporation in a report on Friday. Finally, BMO Capital Markets reissued a “hold” rating and set a $24.00 price target on shares of Pilgrim’s Pride Corporation in a report on Friday, August 25th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and three have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $25.00.

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About Pilgrim’s Pride Corporation

Pilgrim’s Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.

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

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