NN Investment Partners Holdings N.V. Lowers Stake in Pilgrim’s Pride Co. (NASDAQ:PPC)

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NN Investment Partners Holdings N.V. lowered its stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 81.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,800 shares of the company’s stock after selling 16,300 shares during the period. NN Investment Partners Holdings N.V.’s holdings in Pilgrim’s Pride were worth $64,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. CWM Advisors LLC purchased a new stake in shares of Pilgrim’s Pride during the 1st quarter valued at $29,000. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Pilgrim’s Pride by 140.7% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,207 shares of the company’s stock valued at $40,000 after purchasing an additional 1,290 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Pilgrim’s Pride by 120.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,300 shares of the company’s stock valued at $60,000 after purchasing an additional 1,800 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Pilgrim’s Pride by 27.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,081 shares of the company’s stock valued at $92,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Pilgrim’s Pride by 43.3% in the 4th quarter. Advisors Asset Management Inc. now owns 4,979 shares of the company’s stock valued at $163,000 after acquiring an additional 1,505 shares during the period. Hedge funds and other institutional investors own 18.87% of the company’s stock.

PPC has been the topic of several research reports. Goldman Sachs Group cut their target price on Pilgrim’s Pride from $23.00 to $19.00 in a research report on Thursday, June 4th. Barclays downgraded Pilgrim’s Pride from an “overweight” rating to an “equal weight” rating and set a $20.00 target price on the stock. in a research report on Monday, June 29th. BMO Capital Markets downgraded Pilgrim’s Pride from an “outperform” rating to a “market perform” rating and cut their target price for the company from $36.00 to $21.00 in a research report on Monday, June 29th. Stephens downgraded Pilgrim’s Pride from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, June 3rd. Finally, Zacks Investment Research downgraded Pilgrim’s Pride from a “strong-buy” rating to a “hold” rating and set a $19.00 target price on the stock. in a research report on Thursday, July 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Pilgrim’s Pride currently has a consensus rating of “Hold” and an average price target of $25.38.

NASDAQ:PPC opened at $15.35 on Friday. Pilgrim’s Pride Co. has a 52 week low of $14.87 and a 52 week high of $33.67. The company has a quick ratio of 0.99, a current ratio of 1.89 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $3.79 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 1.25 and a beta of 0.97. The stock’s 50-day moving average price is $16.83 and its 200-day moving average price is $20.73.

Pilgrim’s Pride (NASDAQ:PPC) last posted its earnings results on Wednesday, July 29th. The company reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.13). Pilgrim’s Pride had a net margin of 2.24% and a return on equity of 7.89%. The business had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter last year, the business earned $0.69 earnings per share. Pilgrim’s Pride’s revenue was down .7% on a year-over-year basis. Sell-side analysts expect that Pilgrim’s Pride Co. will post 1.82 earnings per share for the current fiscal year.

Pilgrim’s Pride Company Profile

Pilgrim's Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products in the United States, the United Kingdom, Europe, and Mexico. The company offers fresh chicken products, including pre-marinated or non-marinated refrigerated (nonfrozen) whole or cut-up chicken; and prepackaged case-ready chicken, such as whole chickens and chicken parts.

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

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