Pilgrim’s Pride Co. (NASDAQ:PPC) Shares Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC raised its stake in Pilgrim’s Pride Co. (NASDAQ:PPC) by 97,511.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,188 shares of the company’s stock after buying an additional 33,154 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Pilgrim’s Pride were worth $1,528,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PPC. Norden Group LLC acquired a new stake in shares of Pilgrim’s Pride during the 1st quarter worth approximately $308,000. GSA Capital Partners LLP increased its stake in Pilgrim’s Pride by 44.2% during the first quarter. GSA Capital Partners LLP now owns 14,117 shares of the company’s stock worth $484,000 after acquiring an additional 4,329 shares during the last quarter. Texas Permanent School Fund Corp raised its position in Pilgrim’s Pride by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 35,230 shares of the company’s stock valued at $1,209,000 after purchasing an additional 456 shares during the period. Duality Advisers LP acquired a new position in shares of Pilgrim’s Pride in the 1st quarter valued at $303,000. Finally, Quantbot Technologies LP grew its holdings in shares of Pilgrim’s Pride by 111.3% during the 1st quarter. Quantbot Technologies LP now owns 27,322 shares of the company’s stock worth $938,000 after purchasing an additional 14,391 shares during the period. 16.64% of the stock is owned by institutional investors and hedge funds.

Pilgrim’s Pride Stock Performance

NASDAQ:PPC opened at $50.17 on Monday. Pilgrim’s Pride Co. has a 52 week low of $25.23 and a 52 week high of $51.21. The company has a fifty day simple moving average of $44.98 and a two-hundred day simple moving average of $40.69. The company has a quick ratio of 1.09, a current ratio of 1.95 and a debt-to-equity ratio of 0.75. The company has a market cap of $11.90 billion, a price-to-earnings ratio of 12.12, a price-to-earnings-growth ratio of 0.22 and a beta of 0.81.

Pilgrim’s Pride (NASDAQ:PPC) last released its earnings results on Wednesday, October 30th. The company reported $1.63 EPS for the quarter, topping the consensus estimate of $1.27 by $0.36. The firm had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.69 billion. Pilgrim’s Pride had a return on equity of 29.92% and a net margin of 5.46%. Pilgrim’s Pride’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.58 EPS. As a group, equities analysts anticipate that Pilgrim’s Pride Co. will post 5.21 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

PPC has been the topic of a number of recent analyst reports. BMO Capital Markets upped their target price on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a research report on Friday. Bank of America cut 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 report on Thursday, August 15th. Argus boosted their target price on Pilgrim’s Pride from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Stephens assumed coverage on Pilgrim’s Pride in a research note on Thursday, October 3rd. They set an “equal weight” rating and a $43.00 price target on the stock. Finally, Barclays lifted their price objective on Pilgrim’s Pride from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Pilgrim’s Pride has a consensus rating of “Hold” and an average target price of $45.50.

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.