Inspire Investing LLC Sells 4,146 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Inspire Investing LLC lessened its holdings in Pilgrim’s Pride Co. (NASDAQ:PPC) by 15.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,072 shares of the company’s stock after selling 4,146 shares during the quarter. Inspire Investing LLC’s holdings in Pilgrim’s Pride were worth $888,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Seven Eight Capital LP acquired a new stake in shares of Pilgrim’s Pride during the second quarter worth $917,000. Hsbc Holdings PLC grew its position in shares of Pilgrim’s Pride by 85.6% during the 2nd quarter. Hsbc Holdings PLC now owns 18,653 shares of the company’s stock worth $716,000 after buying an additional 8,605 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in shares of Pilgrim’s Pride by 6.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 7,658 shares of the company’s stock valued at $295,000 after acquiring an additional 440 shares during the last quarter. Edgestream Partners L.P. raised its position in shares of Pilgrim’s Pride by 256.6% in the 2nd quarter. Edgestream Partners L.P. now owns 81,776 shares of the company’s stock valued at $3,148,000 after acquiring an additional 58,843 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Pilgrim’s Pride by 16.7% during the 2nd quarter. Renaissance Technologies LLC now owns 635,240 shares of the company’s stock worth $24,450,000 after acquiring an additional 91,127 shares during the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Price Performance

PPC stock opened at $41.77 on Friday. The stock has a market cap of $9.90 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 0.21 and a beta of 0.82. The stock has a 50-day moving average price of $42.92 and a two-hundred day moving average price of $38.25. Pilgrim’s Pride Co. has a 1 year low of $22.33 and a 1 year high of $47.44. The company has a current ratio of 1.82, a quick ratio of 1.09 and a debt-to-equity ratio of 0.85.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.35. The business had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.62 billion. Pilgrim’s Pride had a net margin of 4.25% and a return on equity of 25.06%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 earnings per share. Equities analysts forecast that Pilgrim’s Pride Co. will post 4.79 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on PPC. Argus increased their target price on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Barclays raised their price objective on Pilgrim’s Pride from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Monday, September 9th. BMO Capital Markets reissued a “market perform” rating and issued a $46.00 target price on shares of Pilgrim’s Pride in a research note on Monday, August 12th. Finally, Bank of America downgraded Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price target for the company. in a report on Thursday, August 15th. Four analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Pilgrim’s Pride has an average rating of “Moderate Buy” and an average price target of $45.80.

Insider Transactions at Pilgrim’s Pride

In related news, CFO Matthew R. Galvanoni sold 6,500 shares of Pilgrim’s Pride stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $43.31, for a total value of $281,515.00. Following the sale, the chief financial officer now owns 51,750 shares of the company’s stock, valued at $2,241,292.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Fabio Sandri sold 65,000 shares of Pilgrim’s Pride stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $44.50, for a total value of $2,892,500.00. Following the completion of the transaction, the chief executive officer now owns 279,565 shares of the company’s stock, valued at approximately $12,440,642.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Matthew R. Galvanoni sold 6,500 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $43.31, for a total transaction of $281,515.00. Following the transaction, the chief financial officer now owns 51,750 shares in the company, valued at $2,241,292.50. The disclosure for this sale can be found here. Company insiders own 82.63% of the company’s stock.

Pilgrim’s Pride Profile

Pilgrim's Pride Corporation produces, processes, markets, and distributes fresh, frozen, and value-added chicken and pork products to retailers, distributors, and foodservice operators. The company offers fresh products, including refrigerated whole or cut-up chicken, selected chicken parts that are either marinated or non-marinated, primary pork cuts, added value pork, and pork ribs; and prepared products, which include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, processed sausages, bacon, smoked meat, gammon joints, pre-packed meats, sandwich and deli counter meats and meat balls.