Sei Investments Co. Has $4.19 Million Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

Sei Investments Co. grew its position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 27.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 108,794 shares of the company’s stock after purchasing an additional 23,695 shares during the quarter. Sei Investments Co.’s holdings in Pilgrim’s Pride were worth $4,188,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in Pilgrim’s Pride during the 4th quarter worth $7,856,000. Nomura Holdings Inc. raised its position in shares of Pilgrim’s Pride by 763.1% during the fourth quarter. Nomura Holdings Inc. now owns 215,770 shares of the company’s stock worth $5,968,000 after acquiring an additional 190,770 shares during the last quarter. Advisors Preferred LLC acquired a new position in shares of Pilgrim’s Pride in the first quarter worth approximately $6,515,000. Verition Fund Management LLC bought a new stake in Pilgrim’s Pride in the fourth quarter valued at approximately $5,024,000. Finally, Vanguard Group Inc. increased its position in Pilgrim’s Pride by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 4,233,961 shares of the company’s stock valued at $145,310,000 after purchasing an additional 136,970 shares during the period. 16.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Fabio Sandri sold 65,000 shares of Pilgrim’s Pride stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $44.50, for a total value of $2,892,500.00. Following the completion of the sale, the chief executive officer now owns 279,565 shares of the company’s stock, valued at approximately $12,440,642.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Fabio Sandri sold 65,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $44.50, for a total value of $2,892,500.00. Following the sale, the chief executive officer now owns 279,565 shares in the company, valued at approximately $12,440,642.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Matthew R. Galvanoni sold 6,500 shares of Pilgrim’s Pride stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $43.31, for a total value of $281,515.00. Following the transaction, the chief financial officer now owns 51,750 shares of the company’s stock, valued at approximately $2,241,292.50. The disclosure for this sale can be found here. Corporate insiders own 82.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PPC shares. Barclays boosted their price target on shares of Pilgrim’s Pride from $43.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Monday, September 9th. Argus upped their price target on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. BMO Capital Markets reissued a “market perform” rating and issued a $46.00 price objective on shares of Pilgrim’s Pride in a research report on Monday, August 12th. Finally, Bank of America lowered Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 target price on the stock. in a research report on Thursday, August 15th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Pilgrim’s Pride currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.80.

Pilgrim’s Pride Stock Down 0.5 %

Shares of NASDAQ PPC opened at $47.86 on Thursday. Pilgrim’s Pride Co. has a 12-month low of $22.33 and a 12-month high of $49.07. The company has a quick ratio of 1.09, a current ratio of 1.82 and a debt-to-equity ratio of 0.85. The firm has a market cap of $11.34 billion, a PE ratio of 23.23, a P/E/G ratio of 0.21 and a beta of 0.82. The company’s fifty day simple moving average is $43.63 and its 200 day simple moving average is $38.89.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.35. Pilgrim’s Pride had a net margin of 4.25% and a return on equity of 25.06%. The company had revenue of $4.56 billion for the quarter, compared to analysts’ expectations of $4.62 billion. During the same quarter in the prior year, the firm earned $0.44 EPS. The business’s revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts forecast that Pilgrim’s Pride Co. will post 4.79 earnings per share for the current fiscal year.

Pilgrim’s Pride Profile

Pilgrim's Pride Corporation produces, processes, markets, and distributes fresh, frozen, and value-added chicken and pork products to retailers, distributors, and foodservice operators. The company offers fresh products, including refrigerated whole or cut-up chicken, selected chicken parts that are either marinated or non-marinated, primary pork cuts, added value pork, and pork ribs; and prepared products, which include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, processed sausages, bacon, smoked meat, gammon joints, pre-packed meats, sandwich and deli counter meats and meat balls.