Geode Capital Management LLC reduced its position in Pilgrim’s Pride Corp. (NASDAQ:PPC) by 8.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,024,816 shares of the company’s stock after selling 91,718 shares during the period. Geode Capital Management LLC owned 0.40% of Pilgrim’s Pride Corp. worth $26,030,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Acadian Asset Management LLC increased its position in Pilgrim’s Pride Corp. by 4.7% in the first quarter. Acadian Asset Management LLC now owns 5,143,461 shares of the company’s stock worth $130,647,000 after buying an additional 231,257 shares during the last quarter. Levin Capital Strategies L.P. purchased a new position in Pilgrim’s Pride Corp. during the fourth quarter worth about $68,995,000. Balyasny Asset Management LLC purchased a new position in Pilgrim’s Pride Corp. during the fourth quarter worth about $40,989,000. Ameriprise Financial Inc. increased its position in Pilgrim’s Pride Corp. by 64.9% in the fourth quarter. Ameriprise Financial Inc. now owns 1,299,379 shares of the company’s stock worth $28,700,000 after buying an additional 511,338 shares during the last quarter. Finally, Hodges Capital Management Inc. increased its position in Pilgrim’s Pride Corp. by 1.2% in the fourth quarter. Hodges Capital Management Inc. now owns 1,250,957 shares of the company’s stock worth $27,634,000 after buying an additional 15,440 shares during the last quarter.
Shares of Pilgrim’s Pride Corp. (NASDAQ:PPC) traded down 3.42% during midday trading on Wednesday, reaching $24.32. The company had a trading volume of 1,252,032 shares. The company’s 50 day moving average price is $24.97 and its 200-day moving average price is $24.39. The company has a market capitalization of $6.19 billion and a P/E ratio of 11.21. Pilgrim’s Pride Corp. has a 52 week low of $17.39 and a 52 week high of $27.79.
A number of equities analysts have recently issued reports on PPC shares. Zacks Investment Research downgraded Pilgrim’s Pride Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, April 19th. BMO Capital Markets downgraded Pilgrim’s Pride Corp. from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $29.00 to $27.00 in a research report on Monday, June 6th. They noted that the move was a valuation call. Deutsche Bank AG downgraded Pilgrim’s Pride Corp. from a “buy” rating to a “hold” rating and set a $30.55 price target on the stock. in a research report on Wednesday, May 25th. Finally, BB&T Corp. downgraded Pilgrim’s Pride Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, May 25th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Pilgrim’s Pride Corp. currently has an average rating of “Hold” and an average price target of $27.11.
Pilgrim’s Pride Corporation (Pilgrim’s) is a producer of Chicken products. The Company is a producer and seller of chicken products with operations in the United States, Mexico and Puerto Rico. The Company is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.
