SG Americas Securities LLC Sells 4,213 Shares of Pilgrim’s Pride Corporation (PPC)

SG Americas Securities LLC lessened its position in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 11.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,236 shares of the company’s stock after selling 4,213 shares during the period. SG Americas Securities LLC’s holdings in Pilgrim’s Pride Corporation were worth $685,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Pilgrim’s Pride Corporation by 6.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,668 shares of the company’s stock worth $105,000 after purchasing an additional 267 shares during the period. Cadence Capital Management LLC lifted its position in shares of Pilgrim’s Pride Corporation by 1.5% in the 1st quarter. Cadence Capital Management LLC now owns 35,013 shares of the company’s stock worth $788,000 after purchasing an additional 505 shares during the period. Horrell Capital Management Inc. lifted its position in shares of Pilgrim’s Pride Corporation by 2.5% in the 2nd quarter. Horrell Capital Management Inc. now owns 27,941 shares of the company’s stock worth $612,000 after purchasing an additional 681 shares during the period. First Midwest Bank Trust Division lifted its position in shares of Pilgrim’s Pride Corporation by 2.4% in the 2nd quarter. First Midwest Bank Trust Division now owns 30,961 shares of the company’s stock worth $679,000 after purchasing an additional 738 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Pilgrim’s Pride Corporation by 3.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 24,643 shares of the company’s stock worth $555,000 after purchasing an additional 897 shares during the period. 24.34% of the stock is currently owned by institutional investors and hedge funds.

PPC has been the subject of several research analyst reports. BidaskClub cut shares of Pilgrim’s Pride Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. ValuEngine raised shares of Pilgrim’s Pride Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research cut shares of Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a research report on Friday, May 19th. Vertical Group cut shares of Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, September 5th. They noted that the move was a valuation call. Finally, Vertical Research cut shares of Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, September 5th. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and three have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $24.50.

Pilgrim’s Pride Corporation (NASDAQ PPC) opened at 29.56 on Friday. The company’s 50-day moving average is $27.67 and its 200-day moving average is $24.18. Pilgrim’s Pride Corporation has a 12 month low of $17.15 and a 12 month high of $29.86. The stock has a market capitalization of $7.35 billion, a PE ratio of 14.91 and a beta of 0.13.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last issued its earnings results on Wednesday, August 2nd. The company reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.11. Pilgrim’s Pride Corporation had a net margin of 6.05% and a return on equity of 49.65%. The company had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the prior year, the business earned $0.60 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. Equities research analysts forecast that Pilgrim’s Pride Corporation will post $2.50 EPS for the current year.

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Pilgrim’s Pride Corporation Company Profile

Pilgrim’s Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.

Institutional Ownership by Quarter for Pilgrim`s Pride Corporation (NASDAQ:PPC)

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