Strs Ohio Purchases 44,762 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

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Strs Ohio increased its stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 169.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 71,200 shares of the company’s stock after acquiring an additional 44,762 shares during the period. Strs Ohio’s holdings in Pilgrim’s Pride were worth $1,202,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PPC. Amundi Pioneer Asset Management Inc. raised its holdings in Pilgrim’s Pride by 12.1% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 9,863 shares of the company’s stock worth $220,000 after acquiring an additional 1,063 shares in the last quarter. Stifel Financial Corp bought a new stake in Pilgrim’s Pride during the fourth quarter worth about $457,000. Bank of America Corp DE raised its holdings in Pilgrim’s Pride by 305.9% during the fourth quarter. Bank of America Corp DE now owns 329,680 shares of the company’s stock worth $10,785,000 after acquiring an additional 248,467 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Pilgrim’s Pride by 43.3% during the fourth quarter. Advisors Asset Management Inc. now owns 4,979 shares of the company’s stock worth $163,000 after acquiring an additional 1,505 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in Pilgrim’s Pride by 8.8% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,340 shares of the company’s stock worth $436,000 after acquiring an additional 1,080 shares in the last quarter. Institutional investors and hedge funds own 18.87% of the company’s stock.

Several analysts have issued reports on the company. Stephens lowered Pilgrim’s Pride from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 3rd. Zacks Investment Research lowered Pilgrim’s Pride from a “strong-buy” rating to a “hold” rating and set a $19.00 price objective on the stock. in a research note on Thursday, July 9th. Barclays lowered Pilgrim’s Pride from an “overweight” rating to an “equal weight” rating and set a $20.00 price objective on the stock. in a research note on Monday, June 29th. BMO Capital Markets lowered Pilgrim’s Pride from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $36.00 to $21.00 in a research note on Monday, June 29th. Finally, BidaskClub lowered Pilgrim’s Pride from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $25.38.

Pilgrim’s Pride stock opened at $15.35 on Friday. Pilgrim’s Pride Co. has a 12 month low of $14.87 and a 12 month high of $33.67. The stock’s 50 day moving average is $16.83 and its 200-day moving average is $20.73. The company has a current ratio of 1.89, a quick ratio of 0.99 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 1.25 and a beta of 0.97.

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 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 firm had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same period in the previous year, the company posted $0.69 EPS. Pilgrim’s Pride’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, equities research analysts predict that Pilgrim’s Pride Co. will post 1.82 earnings per share for the current fiscal year.

Pilgrim’s Pride 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.

Read More: What is a Leveraged Buyout (LBO)?

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

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