Pacad Investment Ltd. trimmed its position in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 38.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,900 shares of the company’s stock after selling 6,931 shares during the quarter. Pacad Investment Ltd.’s holdings in Pilgrim’s Pride Corporation were worth $239,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Pilgrim’s Pride Corporation by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 4,926,654 shares of the company’s stock valued at $110,874,000 after purchasing an additional 195,030 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Pilgrim’s Pride Corporation by 662.4% during the 1st quarter. BlackRock Inc. now owns 4,173,974 shares of the company’s stock valued at $93,936,000 after purchasing an additional 3,626,463 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Pilgrim’s Pride Corporation by 9.9% during the 1st quarter. Geode Capital Management LLC now owns 1,173,520 shares of the company’s stock valued at $26,409,000 after purchasing an additional 105,555 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Pilgrim’s Pride Corporation by 9.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 792,740 shares of the company’s stock valued at $17,840,000 after purchasing an additional 71,211 shares in the last quarter. Finally, First Quadrant L P CA increased its holdings in shares of Pilgrim’s Pride Corporation by 17.2% during the 2nd quarter. First Quadrant L P CA now owns 759,518 shares of the company’s stock valued at $16,649,000 after purchasing an additional 111,621 shares in the last quarter. 24.34% of the stock is owned by hedge funds and other institutional investors.

Shares of Pilgrim’s Pride Corporation (PPC) opened at 28.17 on Tuesday. Pilgrim’s Pride Corporation has a 1-year low of $17.15 and a 1-year high of $29.86. The firm has a market cap of $7.01 billion, a PE ratio of 14.21 and a beta of 0.13. The company has a 50-day moving average of $27.01 and a 200-day moving average of $23.96.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.11. The firm had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Pilgrim’s Pride Corporation had a return on equity of 49.65% and a net margin of 6.05%. Pilgrim’s Pride Corporation’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 earnings per share. Analysts predict that Pilgrim’s Pride Corporation will post $2.49 earnings per share for the current fiscal year.

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Several equities analysts have recently weighed in on the stock. ValuEngine raised shares of Pilgrim’s Pride Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Vertical Research cut shares of Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th. Vertical Group cut shares of Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, September 5th. They noted that the move was a valuation call. BMO Capital Markets reissued a “hold” rating and issued a $24.00 price target on shares of Pilgrim’s Pride Corporation in a research note on Friday, August 25th. Finally, Jefferies Group LLC set a $25.00 price target on shares of Pilgrim’s Pride Corporation and gave the company a “hold” rating in a research note on Tuesday, August 15th. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and three have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $24.50.

About Pilgrim’s Pride Corporation

Pilgrim’s Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.

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

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