Herr Investment Group LLC Sells 3,000 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Herr Investment Group LLC cut its position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 9.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,275 shares of the company’s stock after selling 3,000 shares during the period. Herr Investment Group LLC’s holdings in Pilgrim’s Pride were worth $1,088,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Seven Eight Capital LP bought a new position in Pilgrim’s Pride in the 2nd quarter valued at $917,000. Hsbc Holdings PLC boosted its stake in shares of Pilgrim’s Pride by 85.6% during the second quarter. Hsbc Holdings PLC now owns 18,653 shares of the company’s stock valued at $716,000 after purchasing an additional 8,605 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Pilgrim’s Pride by 6.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,658 shares of the company’s stock worth $295,000 after purchasing an additional 440 shares during the last quarter. Edgestream Partners L.P. increased its stake in Pilgrim’s Pride by 256.6% in the 2nd quarter. Edgestream Partners L.P. now owns 81,776 shares of the company’s stock worth $3,148,000 after buying an additional 58,843 shares during the period. Finally, Renaissance Technologies LLC grew its stake in Pilgrim’s Pride by 16.7% in 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 in the last quarter. 16.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PPC shares. Barclays lifted their price target on 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 boosted 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. Bank of America cut shares of Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price target on the stock. in a report on Thursday, August 15th. 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. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $45.80.

Insider Buying and Selling

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

Pilgrim’s Pride Stock Performance

Shares of PPC stock opened at $43.25 on Friday. The stock has a market cap of $10.25 billion, a PE ratio of 21.00, a price-to-earnings-growth ratio of 0.21 and a beta of 0.82. Pilgrim’s Pride Co. has a 52-week low of $22.33 and a 52-week high of $47.44. The business has a 50-day simple moving average of $42.74 and a 200-day simple moving average of $38.14. The company has a quick ratio of 1.09, a current ratio of 1.82 and a debt-to-equity ratio of 0.85.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.35. The company had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.62 billion. Pilgrim’s Pride had a return on equity of 25.06% and a net margin of 4.25%. Pilgrim’s Pride’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 EPS. On average, equities analysts expect 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.