Intech Investment Management LLC Invests $566,000 in Pilgrim’s Pride Corporation $PPC

Intech Investment Management LLC bought a new stake in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 13,898 shares of the company’s stock, valued at approximately $566,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. True Wealth Design LLC lifted its holdings in Pilgrim’s Pride by 1,248.5% in the third quarter. True Wealth Design LLC now owns 917 shares of the company’s stock worth $37,000 after buying an additional 849 shares during the period. Clearstead Advisors LLC boosted its position in Pilgrim’s Pride by 1,522.6% during the 3rd 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. Abich Financial Wealth Management LLC purchased a new position in shares of Pilgrim’s Pride during the 3rd quarter worth approximately $41,000. Quent Capital LLC purchased a new position in shares of Pilgrim’s Pride during the 3rd quarter worth approximately $55,000. Finally, Rothschild Investment LLC raised its position in shares of Pilgrim’s Pride by 186,700.0% in the 3rd quarter. Rothschild Investment LLC now owns 1,868 shares of the company’s stock worth $76,000 after acquiring an additional 1,867 shares in the last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Price Performance

PPC stock opened at $37.38 on Thursday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.76 and a current ratio of 1.47. The firm has a 50 day moving average price of $41.55 and a 200-day moving average price of $40.38. Pilgrim’s Pride Corporation has a 52-week low of $35.73 and a 52-week high of $56.73. The firm has a market capitalization of $8.88 billion, a price-to-earnings ratio of 8.23 and a beta of 0.41.

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

Wall Street Analyst Weigh In

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

Insider Activity at Pilgrim’s Pride

In other news, CFO Matthew R. 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 of the company’s stock, valued at approximately $3,977,597.44. This represents a 7.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 82.56% 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.