Pilgrim’s Pride Co. (NASDAQ:PPC) Shares Purchased by Creative Planning

Creative Planning grew its position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 2.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,855 shares of the company’s stock after acquiring an additional 898 shares during the quarter. Creative Planning’s holdings in Pilgrim’s Pride were worth $1,380,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PPC. Arizona State Retirement System grew its holdings in shares of Pilgrim’s Pride by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 13,259 shares of the company’s stock worth $510,000 after purchasing an additional 244 shares during the period. Bayesian Capital Management LP grew its stake in Pilgrim’s Pride by 2.6% during the first quarter. Bayesian Capital Management LP now owns 11,382 shares of the company’s stock worth $391,000 after buying an additional 290 shares during the period. Bleakley Financial Group LLC increased its position in shares of Pilgrim’s Pride by 2.2% in the first quarter. Bleakley Financial Group LLC now owns 13,714 shares of the company’s stock worth $471,000 after acquiring an additional 301 shares in the last quarter. Norden Group LLC raised its stake in shares of Pilgrim’s Pride by 3.6% in the 2nd quarter. Norden Group LLC now owns 9,290 shares of the company’s stock valued at $358,000 after acquiring an additional 322 shares during the period. Finally, SummerHaven Investment Management LLC lifted its holdings in shares of Pilgrim’s Pride by 1.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 31,437 shares of the company’s stock valued at $1,210,000 after acquiring an additional 413 shares in the last quarter. 16.64% of the stock is currently owned by institutional investors and hedge funds.

Pilgrim’s Pride Price Performance

Shares of NASDAQ PPC opened at $46.12 on Wednesday. The company has a current ratio of 1.82, a quick ratio of 1.09 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $10.93 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 0.21 and a beta of 0.82. Pilgrim’s Pride Co. has a twelve month low of $23.15 and a twelve month high of $49.07. The business has a 50 day simple moving average of $44.07 and a 200-day simple moving average of $39.30.

Pilgrim’s Pride (NASDAQ:PPC) last released its earnings results on Wednesday, July 31st. The company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.35. Pilgrim’s Pride had a net margin of 4.25% and a return on equity of 25.06%. The firm had revenue of $4.56 billion during the quarter, compared to analyst estimates of $4.62 billion. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities research analysts expect that Pilgrim’s Pride Co. will post 4.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PPC. Stephens began coverage on Pilgrim’s Pride in a report on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price target for the company. Bank of America lowered Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 target price for the company. in a research note on Thursday, August 15th. Barclays boosted their price target on Pilgrim’s Pride from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Monday, September 9th. Argus upped their price target on Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $46.00 price objective on shares of Pilgrim’s Pride in a research note on Monday, August 12th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $45.33.

Insider Buying and Selling

In other news, CEO Fabio Sandri sold 65,000 shares of the company’s stock in a transaction that occurred 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 directly owns 279,565 shares of the company’s stock, valued at approximately $12,440,642.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Fabio Sandri sold 65,000 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 279,565 shares of the company’s stock, valued at approximately $12,440,642.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Matthew R. Galvanoni sold 6,500 shares of the company’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 of the company’s stock, valued at $2,241,292.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 82.63% of the stock is owned by company insiders.

About Pilgrim’s Pride

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.