First Trust Advisors LP lowered its position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 6.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 436,988 shares of the company’s stock after selling 31,648 shares during the quarter. First Trust Advisors LP owned about 0.18% of Pilgrim’s Pride worth $7,918,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. State of Alaska Department of Revenue lifted its position in Pilgrim’s Pride by 4.4% during the fourth quarter. State of Alaska Department of Revenue now owns 9,717 shares of the company’s stock valued at $317,000 after buying an additional 412 shares during the period. Mason Street Advisors LLC increased its holdings in shares of Pilgrim’s Pride by 1.5% during the fourth quarter. Mason Street Advisors LLC now owns 27,876 shares of the company’s stock valued at $912,000 after acquiring an additional 420 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Pilgrim’s Pride by 23.5% during the fourth quarter. Acadian Asset Management LLC now owns 3,122 shares of the company’s stock valued at $102,000 after acquiring an additional 594 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Pilgrim’s Pride by 17.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,981 shares of the company’s stock valued at $130,000 after acquiring an additional 604 shares in the last quarter. Finally, Hancock Whitney Corp increased its holdings in shares of Pilgrim’s Pride by 2.0% during the fourth quarter. Hancock Whitney Corp now owns 30,956 shares of the company’s stock valued at $1,012,000 after acquiring an additional 621 shares in the last quarter. 20.17% of the stock is owned by institutional investors and hedge funds.

In other news, CEO Jayson Penn sold 3,988 shares of Pilgrim’s Pride stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $22.31, for a total transaction of $88,972.28. Following the transaction, the chief executive officer now directly owns 200,420 shares of the company’s stock, valued at approximately $4,471,370.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 78.70% of the stock is owned by insiders.

Shares of NASDAQ:PPC opened at $20.80 on Friday. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 2.84 and a beta of 1.05. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.99 and a current ratio of 1.89. The stock’s 50-day simple moving average is $19.89 and its two-hundred day simple moving average is $25.69. Pilgrim’s Pride Co. has a 52-week low of $15.75 and a 52-week high of $33.67.

Pilgrim’s Pride (NASDAQ:PPC) last announced its earnings results on Wednesday, April 29th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.01. The business had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Pilgrim’s Pride had a return on equity of 15.14% and a net margin of 3.73%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the firm posted $0.35 earnings per share. As a group, equities analysts forecast that Pilgrim’s Pride Co. will post 1.1 earnings per share for the current fiscal year.

Several brokerages have recently weighed in on PPC. Stephens upgraded Pilgrim’s Pride from an “equal weight” rating to an “overweight” rating and set a $28.00 price target for the company in a report on Monday, May 11th. They noted that the move was a valuation call. Barclays reduced their price target on Pilgrim’s Pride from $33.00 to $28.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. Cfra reduced their price target on Pilgrim’s Pride from $35.00 to $30.00 and set a “buy” rating for the company in a report on Friday, February 21st. Goldman Sachs Group reduced their price target on Pilgrim’s Pride from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, February 24th. Finally, BidaskClub downgraded Pilgrim’s Pride from a “hold” rating to a “sell” rating in a report on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Pilgrim’s Pride currently has a consensus rating of “Buy” and a consensus price target of $31.50.

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

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