State of Alaska Department of Revenue Grows Stock Position in Pilgrim’s Pride Co. (NASDAQ:PPC)

State of Alaska Department of Revenue boosted its stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 0.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 132,463 shares of the company’s stock after purchasing an additional 315 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of Pilgrim’s Pride worth $6,099,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. ORG Wealth Partners LLC purchased a new stake in shares of Pilgrim’s Pride during the 3rd quarter worth $29,000. Raleigh Capital Management Inc. acquired a new stake in Pilgrim’s Pride in the third quarter valued at $34,000. ORG Partners LLC purchased a new stake in Pilgrim’s Pride during the 2nd quarter worth about $32,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Pilgrim’s Pride during the 2nd quarter worth about $32,000. Finally, Headlands Technologies LLC purchased a new position in shares of Pilgrim’s Pride in the 1st quarter valued at about $38,000. Institutional investors and hedge funds own 16.64% of the company’s stock.

Insider Transactions at Pilgrim’s Pride

In related news, CEO Fabio Sandri sold 65,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $44.50, for a total transaction of $2,892,500.00. Following the completion of the transaction, the chief executive officer now directly owns 279,565 shares of the company’s stock, valued at $12,440,642.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Pilgrim’s Pride news, CEO Fabio Sandri sold 65,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $44.50, for a total value of $2,892,500.00. Following the completion of the transaction, the chief executive officer now owns 279,565 shares in the company, valued at approximately $12,440,642.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Matthew R. Galvanoni sold 6,500 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $43.31, for a total transaction of $281,515.00. Following the sale, the chief financial officer now owns 51,750 shares in the company, valued at $2,241,292.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 82.63% of the company’s stock.

Pilgrim’s Pride Stock Up 2.7 %

PPC opened at $47.45 on Tuesday. Pilgrim’s Pride Co. has a 52 week low of $24.75 and a 52 week high of $49.07. The business has a 50 day moving average price of $44.61 and a two-hundred day moving average price of $40.36. 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 company has a market cap of $11.24 billion, a PE ratio of 23.03, a P/E/G ratio of 0.23 and a beta of 0.82.

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

Analyst Ratings Changes

Several equities analysts have commented on the stock. Stephens initiated coverage on shares of Pilgrim’s Pride in a research note on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price target on the stock. Bank of America downgraded shares of Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price objective for the company. in a research note on Thursday, August 15th. Argus lifted their target price on Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Barclays upped their target price on Pilgrim’s Pride from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, September 9th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $46.00 price objective on shares of Pilgrim’s Pride in a research note on Monday, August 12th. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $45.33.

About Pilgrim’s Pride

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.