Matthew Galvanoni Sells 6,963 Shares of Pilgrim’s Pride (NASDAQ:PPC) Stock

Pilgrim’s Pride Corporation (NASDAQ:PPC) CFO Matthew Galvanoni sold 6,963 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $43.52, for a total value of $303,029.76. Following the sale, the chief financial officer directly owned 91,397 shares in the company, valued at approximately $3,977,597.44. This trade represents a 7.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Pilgrim’s Pride Stock Down 1.7%

PPC stock opened at $40.75 on Friday. Pilgrim’s Pride Corporation has a 52 week low of $35.73 and a 52 week high of $56.88. The business has a 50-day simple moving average of $41.59 and a 200 day simple moving average of $40.65. The company has a quick ratio of 0.76, a current ratio of 1.47 and a debt-to-equity ratio of 0.84. The company has a market cap of $9.68 billion, a PE ratio of 8.98 and a beta of 0.41.

Pilgrim’s Pride (NASDAQ:PPC) last released its earnings results on Wednesday, February 11th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.14). The firm had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.39 billion. Pilgrim’s Pride had a net margin of 5.85% and a return on equity of 35.15%. Pilgrim’s Pride’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.35 earnings per share. Sell-side analysts anticipate that Pilgrim’s Pride Corporation will post 5.13 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on PPC shares. BMO Capital Markets boosted their price objective on shares of Pilgrim’s Pride from $40.00 to $42.00 and gave the company a “market perform” rating in a research report on Friday, February 13th. Barclays dropped their price objective on shares of Pilgrim’s Pride from $49.00 to $45.00 and set an “equal weight” rating for the company in a report on Tuesday, December 9th. Santander raised Pilgrim’s Pride from a “neutral” rating to an “outperform” rating in a report on Thursday, December 11th. Weiss Ratings restated a “hold (c)” rating on shares of Pilgrim’s Pride in a research report on Monday, December 29th. Finally, Zacks Research downgraded Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 11th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $44.33.

Hedge Funds Weigh In On Pilgrim’s Pride

A number of hedge funds have recently added to or reduced their stakes in PPC. Torren Management LLC purchased a new position in shares of Pilgrim’s Pride during the fourth quarter valued at approximately $31,000. MCF Advisors LLC purchased a new stake in Pilgrim’s Pride in the 4th quarter valued at about $35,000. True Wealth Design LLC lifted its position in shares of Pilgrim’s Pride by 1,248.5% during the 3rd quarter. True Wealth Design LLC now owns 917 shares of the company’s stock worth $37,000 after buying an additional 849 shares in the last quarter. Kingdom Financial Group LLC. purchased a new position in shares of Pilgrim’s Pride in the 4th quarter worth approximately $37,000. Finally, Clearstead Advisors LLC grew its holdings in shares of Pilgrim’s Pride by 1,522.6% in the third quarter. Clearstead Advisors LLC now owns 1,006 shares of the company’s stock valued at $41,000 after acquiring an additional 944 shares in the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Company Profile

Pilgrim’s Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim’s Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.

The company’s vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.