International Assets Investment Management LLC Buys 73,071 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

International Assets Investment Management LLC grew its stake in Pilgrim’s Pride Co. (NASDAQ:PPC) by 4,505.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,693 shares of the company’s stock after acquiring an additional 73,071 shares during the period. International Assets Investment Management LLC’s holdings in Pilgrim’s Pride were worth $3,440,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of Pilgrim’s Pride in the 2nd quarter valued at about $1,583,000. Quadrature Capital Ltd acquired a new stake in Pilgrim’s Pride in the 1st quarter valued at about $904,000. ORG Wealth Partners LLC acquired a new stake in Pilgrim’s Pride in the 3rd quarter valued at about $29,000. Edgestream Partners L.P. acquired a new stake in Pilgrim’s Pride in the 1st quarter valued at about $787,000. Finally, Inspire Investing LLC acquired a new stake in Pilgrim’s Pride in the 1st quarter valued at about $934,000. Institutional investors own 16.64% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PPC. Barclays raised their target price on shares of Pilgrim’s Pride from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Friday. Bank of America downgraded shares of Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 target price for the company. in a research note on Thursday, August 15th. Argus raised their target price on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. BMO Capital Markets raised their price objective on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the stock a “market perform” rating in a research report on Friday. Finally, Stephens started coverage on shares of Pilgrim’s Pride in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $43.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pilgrim’s Pride has an average rating of “Hold” and an average target price of $45.50.

Pilgrim’s Pride Stock Up 3.6 %

NASDAQ PPC opened at $50.17 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.09 and a debt-to-equity ratio of 0.85. Pilgrim’s Pride Co. has a 1-year low of $25.23 and a 1-year high of $51.21. The company has a 50 day moving average of $44.98 and a 200-day moving average of $40.66. The company has a market cap of $11.90 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 0.24 and a beta of 0.82.

Pilgrim’s Pride (NASDAQ:PPC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.36. Pilgrim’s Pride had a net margin of 5.46% and a return on equity of 31.38%. The company had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.69 billion. During the same period in the previous year, the business earned $0.58 earnings per share. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. On average, equities research analysts expect that Pilgrim’s Pride Co. will post 4.79 earnings per share for the current fiscal year.

Insider Activity

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

Pilgrim’s Pride Company 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.