Alliancebernstein L.P. cut its position in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 9.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,979 shares of the company’s stock after selling 1,800 shares during the period. Alliancebernstein L.P.’s holdings in Pilgrim’s Pride Corporation were worth $405,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PPC. Pictet Asset Management Ltd. bought a new position in shares of Pilgrim’s Pride Corporation during the first quarter worth approximately $3,216,000. Dimensional Fund Advisors LP raised its position in shares of Pilgrim’s Pride Corporation by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 721,529 shares of the company’s stock worth $13,702,000 after buying an additional 5,381 shares during the last quarter. OLD National Bancorp IN bought a new position in shares of Pilgrim’s Pride Corporation during the first quarter worth approximately $484,000. Sei Investments Co. raised its position in shares of Pilgrim’s Pride Corporation by 7.1% in the first quarter. Sei Investments Co. now owns 27,061 shares of the company’s stock worth $609,000 after buying an additional 1,787 shares during the last quarter. Finally, Hodges Capital Management Inc. bought a new position in shares of Pilgrim’s Pride Corporation during the first quarter worth approximately $585,000. 26.30% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) traded up 0.094% during midday trading on Friday, reaching $26.675. 53,759 shares of the company’s stock traded hands. The company has a 50-day moving average of $23.13 and a 200-day moving average of $22.59. Pilgrim’s Pride Corporation has a one year low of $17.15 and a one year high of $26.79. The company has a market capitalization of $6.64 billion, a price-to-earnings ratio of 13.459 and a beta of 0.19.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.11. Pilgrim’s Pride Corporation had a net margin of 6.05% and a return on equity of 49.65%. The business had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the previous year, the business posted $0.60 earnings per share. The business’s revenue was up 11.0% compared to the same quarter last year. Equities research analysts anticipate that Pilgrim’s Pride Corporation will post $2.45 EPS for the current year.

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Several equities analysts recently commented on PPC shares. BidaskClub lowered shares of Pilgrim’s Pride Corporation from a “hold” rating to a “sell” rating in a report on Saturday, July 1st. Zacks Investment Research lowered shares of Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a report on Friday, May 19th. BMO Capital Markets reaffirmed a “hold” rating and set a $24.00 target price on shares of Pilgrim’s Pride Corporation in a report on Tuesday, May 16th. Jefferies Group LLC reaffirmed a “hold” rating and set a $25.00 target price on shares of Pilgrim’s Pride Corporation in a report on Friday, July 14th. Finally, ValuEngine raised shares of Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $24.50.

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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