Thrivent Financial for Lutherans Sells 75,131 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Thrivent Financial for Lutherans cut its stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 4.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,812,099 shares of the company’s stock after selling 75,131 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.76% of Pilgrim’s Pride worth $69,748,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in Pilgrim’s Pride during the second quarter valued at about $1,583,000. Quadrature Capital Ltd bought a new stake in Pilgrim’s Pride during the 1st quarter valued at approximately $904,000. Chesapeake Capital Corp IL purchased a new position in Pilgrim’s Pride in the 4th quarter worth approximately $1,004,000. Alaska Permanent Fund Corp lifted its holdings in Pilgrim’s Pride by 173.9% in the 1st quarter. Alaska Permanent Fund Corp now owns 45,285 shares of the company’s stock worth $1,554,000 after purchasing an additional 28,749 shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in Pilgrim’s Pride in the 4th quarter worth approximately $5,024,000. 16.64% of the stock is owned by hedge funds and other institutional investors.

Pilgrim’s Pride Stock Performance

Pilgrim’s Pride stock opened at $41.77 on Friday. 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 Co. has a twelve month low of $22.33 and a twelve month high of $47.44. The company’s 50-day moving average price is $42.92 and its 200-day moving average price is $38.29. The company 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.

Pilgrim’s Pride (NASDAQ:PPC) last issued 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 business had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.62 billion. Pilgrim’s Pride had a return on equity of 25.06% and a net margin of 4.25%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.44 earnings per share. On average, equities research analysts forecast that Pilgrim’s Pride Co. will post 4.79 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PPC has been the topic of several recent analyst reports. BMO Capital Markets reiterated a “market perform” rating and set a $46.00 price objective on shares of Pilgrim’s Pride in a research report on Monday, August 12th. Bank of America downgraded 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. Barclays increased 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. Finally, Argus lifted their target price on Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.80.

Insider Activity 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 shares were sold at an average price of $43.31, for a total transaction 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 through the SEC website. 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. Also, CFO Matthew R. Galvanoni sold 6,500 shares of the 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 sale, the chief financial officer now owns 51,750 shares in the company, valued at approximately $2,241,292.50. The disclosure for this sale can be found here. 82.63% of the stock is currently owned by insiders.

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.