Renaissance Technologies LLC decreased its holdings in Pilgrim’s Pride Co. (NASDAQ:PPC) by 53.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 208,213 shares of the company’s stock after selling 238,600 shares during the quarter. Renaissance Technologies LLC owned approximately 0.08% of Pilgrim’s Pride worth $4,191,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Schwab Charles Investment Management Inc. increased its stake in shares of Pilgrim’s Pride by 127.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 907,277 shares of the company’s stock valued at $18,264,000 after buying an additional 509,048 shares during the period. BlackRock Inc. increased its stake in shares of Pilgrim’s Pride by 18.5% in the 2nd quarter. BlackRock Inc. now owns 3,148,493 shares of the company’s stock valued at $63,379,000 after buying an additional 490,930 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Pilgrim’s Pride by 91.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 968,700 shares of the company’s stock valued at $19,500,000 after buying an additional 461,600 shares during the period. Wells Fargo & Company MN increased its stake in shares of Pilgrim’s Pride by 165.6% in the 2nd quarter. Wells Fargo & Company MN now owns 628,430 shares of the company’s stock valued at $12,650,000 after buying an additional 391,821 shares during the period. Finally, Mackay Shields LLC increased its stake in shares of Pilgrim’s Pride by 54.8% in the 2nd quarter. Mackay Shields LLC now owns 736,930 shares of the company’s stock valued at $14,834,000 after buying an additional 260,743 shares during the period. Hedge funds and other institutional investors own 20.30% of the company’s stock.

Shares of Pilgrim’s Pride stock opened at $17.98 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.87 and a debt-to-equity ratio of 1.26. Pilgrim’s Pride Co. has a 12 month low of $16.30 and a 12 month high of $38.39. The firm has a market cap of $4.50 billion, a P/E ratio of 6.18 and a beta of -0.02.

Pilgrim’s Pride (NASDAQ:PPC) last posted its earnings results on Wednesday, August 1st. The company reported $0.53 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.43). The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.74 billion. Pilgrim’s Pride had a return on equity of 34.12% and a net margin of 5.33%. The business’s revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 earnings per share. As a group, equities research analysts anticipate that Pilgrim’s Pride Co. will post 1.96 earnings per share for the current fiscal year.

A number of brokerages recently commented on PPC. BidaskClub raised Pilgrim’s Pride from a “sell” rating to a “hold” rating in a research note on Friday, September 7th. Zacks Investment Research cut Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a research note on Monday, July 16th. Barclays began coverage on Pilgrim’s Pride in a research note on Monday, July 16th. They set an “overweight” rating and a $27.00 price objective for the company. Mizuho set a $27.00 price objective on Pilgrim’s Pride and gave the stock a “buy” rating in a research note on Wednesday, July 25th. Finally, BMO Capital Markets decreased their price objective on Pilgrim’s Pride to $20.00 and set a “market perform” rating for the company in a research note on Friday, August 3rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Pilgrim’s Pride has a consensus rating of “Hold” and an average price target of $25.67.

In other Pilgrim’s Pride news, Director Michael L. Cooper bought 2,500 shares of Pilgrim’s Pride stock in a transaction on Thursday, August 9th. The shares were purchased at an average cost of $17.36 per share, for a total transaction of $43,400.00. Following the completion of the acquisition, the director now owns 7,771 shares in the company, valued at approximately $134,904.56. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 78.81% of the company’s stock.

Pilgrim’s Pride Company Profile

Pilgrim's Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products in the United States, the United Kingdom, Europe, and Mexico. The company offers fresh chicken products, including pre-marinated or non-marinated refrigerated (nonfrozen) whole or cut-up chicken; and prepackaged case-ready chicken, such as whole chickens and chicken parts.

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

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