Dimensional Fund Advisors LP Sells 271,627 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Dimensional Fund Advisors LP decreased its holdings in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 8.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,134,647 shares of the company’s stock after selling 271,627 shares during the period. Dimensional Fund Advisors LP owned 1.32% of Pilgrim’s Pride worth $120,652,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PPC. Federated Hermes Inc. boosted its stake in Pilgrim’s Pride by 6.2% during the 2nd quarter. Federated Hermes Inc. now owns 67,497 shares of the company’s stock valued at $2,598,000 after purchasing an additional 3,965 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Pilgrim’s Pride during the second quarter valued at $1,537,000. American Century Companies Inc. grew its stake in shares of Pilgrim’s Pride by 535.4% in the second quarter. American Century Companies Inc. now owns 113,785 shares of the company’s stock worth $4,380,000 after acquiring an additional 95,878 shares during the period. Headlands Technologies LLC grew its position in Pilgrim’s Pride by 363.6% in the 2nd quarter. Headlands Technologies LLC now owns 5,127 shares of the company’s stock worth $197,000 after purchasing an additional 4,021 shares during the period. Finally, Texas Permanent School Fund Corp grew its holdings in shares of Pilgrim’s Pride by 85.4% in the second quarter. Texas Permanent School Fund Corp now owns 65,315 shares of the company’s stock worth $2,514,000 after acquiring an additional 30,085 shares during the period. Institutional investors own 16.64% of the company’s stock.

Insider Transactions at Pilgrim’s Pride

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

Analyst Upgrades and Downgrades

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

Pilgrim’s Pride Price Performance

NASDAQ:PPC opened at $41.77 on Monday. The firm has a market capitalization of $9.90 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 0.21 and a beta of 0.82. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.82 and a quick ratio of 1.09. The business has a 50 day simple moving average of $42.92 and a 200-day simple moving average of $38.34. Pilgrim’s Pride Co. has a 1 year low of $22.33 and a 1 year high of $47.44.

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

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.