Pilgrim’s Pride Co. (NASDAQ:PPC) Shares Acquired by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC lifted its stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 6.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,658 shares of the company’s stock after buying an additional 440 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Pilgrim’s Pride were worth $295,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in PPC. ORG Partners LLC bought a new position in Pilgrim’s Pride during the second quarter worth $32,000. Jones Financial Companies Lllp bought a new position in Pilgrim’s Pride during the fourth quarter worth $28,000. Headlands Technologies LLC bought a new position in Pilgrim’s Pride during the first quarter worth $38,000. GAMMA Investing LLC lifted its stake in Pilgrim’s Pride by 102.9% during the second quarter. GAMMA Investing LLC now owns 1,410 shares of the company’s stock worth $54,000 after purchasing an additional 715 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in Pilgrim’s Pride during the second quarter worth $62,000. Institutional investors and hedge funds own 16.64% of the company’s stock.

Insider Buying and Selling

In other Pilgrim’s Pride news, CEO Fabio Sandri sold 65,000 shares of the firm’s 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 in the company, valued at approximately $12,440,642.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other 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 in the company, valued at approximately $12,440,642.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 sale, the chief financial officer now owns 51,750 shares of the company’s stock, valued at $2,241,292.50. The disclosure for this sale can be found here. 82.63% of the stock is currently owned by company insiders.

Pilgrim’s Pride Price Performance

NASDAQ:PPC opened at $44.06 on Friday. The business’s 50-day moving average price is $43.33 and its 200 day moving average price is $38.66. The firm has a market cap of $10.44 billion, a P/E ratio of 21.39, a PEG ratio of 0.21 and a beta of 0.82. Pilgrim’s Pride Co. has a 52-week low of $22.33 and a 52-week high of $47.44. The company has a quick ratio of 1.09, a current ratio of 1.82 and a debt-to-equity ratio of 0.85.

Pilgrim’s Pride (NASDAQ:PPC) last released its earnings results 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. The firm had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.62 billion. Pilgrim’s Pride had a return on equity of 25.06% and a net margin of 4.25%. Pilgrim’s Pride’s revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. As a group, sell-side analysts predict that Pilgrim’s Pride Co. will post 4.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Bank of America cut Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price objective on the stock. in a research note on Thursday, August 15th. Barclays raised their target price on Pilgrim’s Pride from $43.00 to $45.00 and gave the company an “equal weight” rating in a research note on Monday, September 9th. BMO Capital Markets reiterated a “market perform” rating and issued a $46.00 target price on shares of Pilgrim’s Pride in a research note on Monday, August 12th. Finally, Argus raised their target price on Pilgrim’s Pride from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Pilgrim’s Pride currently has a consensus rating of “Moderate Buy” and an average target price of $45.80.

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.