BI Asset Management Fondsmaeglerselskab A S Invests $781,000 in Pilgrim’s Pride Co. (NASDAQ:PPC)

BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPCFree Report) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 28,226 shares of the company’s stock, valued at approximately $781,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Pilgrim’s Pride during the 4th quarter valued at $7,856,000. Barings LLC bought a new position in Pilgrim’s Pride in the 4th quarter worth about $4,063,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Pilgrim’s Pride in the 4th quarter valued at about $208,000. Dimensional Fund Advisors LP boosted its position in shares of Pilgrim’s Pride by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,691,177 shares of the company’s stock valued at $102,097,000 after acquiring an additional 72,446 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Pilgrim’s Pride during the fourth quarter worth about $987,000. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Insider Buying and Selling

In other Pilgrim’s Pride news, CEO Fabio Sandri sold 40,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $33.32, for a total value of $1,332,800.00. Following the sale, the chief executive officer now owns 257,065 shares of the company’s stock, valued at approximately $8,565,405.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 82.63% of the stock is owned by insiders.

Pilgrim’s Pride Stock Down 3.7 %

PPC opened at $36.40 on Thursday. Pilgrim’s Pride Co. has a 12 month low of $19.96 and a 12 month high of $39.00. The company has a current ratio of 1.83, a quick ratio of 1.01 and a debt-to-equity ratio of 0.96. The business’s 50-day moving average price is $35.65 and its 200-day moving average price is $30.59. The company has a market cap of $8.62 billion, a P/E ratio of 17.67, a P/E/G ratio of 0.29 and a beta of 0.77.

Pilgrim’s Pride (NASDAQ:PPCGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.17. The business had revenue of $4.36 billion for the quarter, compared to analysts’ expectations of $4.45 billion. Pilgrim’s Pride had a return on equity of 17.35% and a net margin of 2.80%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.08 EPS. On average, equities analysts expect that Pilgrim’s Pride Co. will post 3.64 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on PPC. BMO Capital Markets raised their target price on shares of Pilgrim’s Pride from $32.00 to $35.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. The Goldman Sachs Group increased their target price on Pilgrim’s Pride from $32.00 to $36.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Barclays restated an “equal weight” rating and set a $38.00 price target (up previously from $35.00) on shares of Pilgrim’s Pride in a research report on Tuesday, April 16th. StockNews.com upgraded Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a report on Friday, May 3rd. Finally, Bank of America increased their price target on shares of Pilgrim’s Pride from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $37.25.

Get Our Latest Analysis on PPC

Pilgrim’s Pride Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Pilgrim's Pride (NASDAQ:PPC)

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