Chesapeake Capital Corp IL Makes New $1 Million Investment in Pilgrim’s Pride Co. (NASDAQ:PPC)

Chesapeake Capital Corp IL purchased a new position in Pilgrim’s Pride Co. (NASDAQ:PPC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 36,312 shares of the company’s stock, valued at approximately $1,004,000.

A number of other institutional investors have also bought and sold shares of PPC. GAMMA Investing LLC bought a new position in shares of Pilgrim’s Pride during the 4th quarter valued at about $30,000. Financial Management Professionals Inc. bought a new position in shares of Pilgrim’s Pride during the 4th quarter valued at about $32,000. Clear Street Markets LLC bought a new position in shares of Pilgrim’s Pride during the 3rd quarter valued at about $50,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of Pilgrim’s Pride in the 4th quarter valued at about $208,000. Finally, MQS Management LLC bought a new position in shares of Pilgrim’s Pride in the 3rd quarter valued at about $222,000. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. TheStreet raised shares of Pilgrim’s Pride from a “c+” rating to a “b+” rating in a report on Monday, February 26th. Barclays reaffirmed an “equal weight” rating and issued a $38.00 price target (up previously from $35.00) on shares of Pilgrim’s Pride in a report on Tuesday, April 16th. The Goldman Sachs Group increased their price target on shares of Pilgrim’s Pride from $32.00 to $36.00 and gave the company a “neutral” rating in a report on Wednesday, April 17th. StockNews.com raised shares of Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a report on Friday, May 3rd. Finally, BMO Capital Markets increased their price target on shares of Pilgrim’s Pride from $32.00 to $35.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.25.

Insider Transactions at Pilgrim’s Pride

In other news, CEO Fabio Sandri sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $33.32, for a total transaction of $1,332,800.00. Following the transaction, the chief executive officer now directly owns 257,065 shares of the company’s stock, valued at $8,565,405.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 82.63% of the company’s stock.

Pilgrim’s Pride Trading Up 2.0 %

NASDAQ PPC traded up $0.73 during trading on Friday, hitting $36.44. The stock had a trading volume of 679,369 shares, compared to its average volume of 716,006. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.01 and a current ratio of 1.83. The stock has a market capitalization of $8.63 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 0.28 and a beta of 0.77. Pilgrim’s Pride Co. has a one year low of $19.96 and a one year high of $39.00. The stock has a 50 day simple moving average of $35.75 and a 200 day simple moving average of $30.76.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.17. The business had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.45 billion. Pilgrim’s Pride had a net margin of 2.80% and a return on equity of 17.35%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.08 earnings per share. Sell-side analysts predict that Pilgrim’s Pride Co. will post 3.64 earnings per share for the current year.

Pilgrim’s Pride Company 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.