Moors & Cabot Inc. Sells 4,450 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Moors & Cabot Inc. lowered its stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 28.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,100 shares of the company’s stock after selling 4,450 shares during the quarter. Moors & Cabot Inc.’s holdings in Pilgrim’s Pride were worth $427,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. ORG Partners LLC purchased a new stake in Pilgrim’s Pride in the 2nd quarter worth about $32,000. Jones Financial Companies Lllp purchased a new stake in shares of Pilgrim’s Pride in the fourth quarter worth approximately $28,000. Headlands Technologies LLC bought a new stake in shares of Pilgrim’s Pride during the 1st quarter worth approximately $38,000. GAMMA Investing LLC lifted its stake in shares of Pilgrim’s Pride by 102.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,410 shares of the company’s stock worth $54,000 after acquiring an additional 715 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Pilgrim’s Pride during the 2nd quarter valued at $62,000. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Insider Buying and Selling at Pilgrim’s Pride

In other news, CFO Matthew R. Galvanoni sold 6,500 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $43.31, for a total value of $281,515.00. Following the completion of the transaction, the chief financial officer now directly owns 51,750 shares of the company’s stock, valued at approximately $2,241,292.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Fabio Sandri sold 65,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $12,440,642.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Matthew R. Galvanoni sold 6,500 shares of the firm’s 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 completion of the sale, the chief financial officer now owns 51,750 shares of the company’s stock, valued at $2,241,292.50. The disclosure for this sale can be found here. Insiders own 82.63% of the company’s stock.

Pilgrim’s Pride Stock Up 2.6 %

Shares of Pilgrim’s Pride stock opened at $43.25 on Friday. 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 stock has a market cap of $10.25 billion, a price-to-earnings ratio of 21.00, a PEG ratio of 0.21 and a beta of 0.82. The firm’s 50-day moving average is $42.74 and its two-hundred day moving average is $38.14. 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 released its quarterly earnings data on Wednesday, July 31st. The company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.35. The firm had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.62 billion. Pilgrim’s Pride had a net margin of 4.25% and a return on equity of 25.06%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.44 earnings per share. As a group, research analysts expect that Pilgrim’s Pride Co. will post 4.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PPC. BMO Capital Markets reiterated a “market perform” rating and set a $46.00 target price on shares of Pilgrim’s Pride in a research report on Monday, August 12th. Barclays lifted their price objective on shares of Pilgrim’s Pride from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, September 9th. Argus upped their target price on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Finally, Bank of America downgraded shares of Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price target for the company. in a research note on Thursday, August 15th. Four 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’s stock. According to MarketBeat.com, Pilgrim’s Pride currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.80.

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.