Precision Wealth Strategies LLC Acquires Shares of 10,379 Pilgrim’s Pride Co. (NASDAQ:PPC)

Precision Wealth Strategies LLC acquired a new stake in Pilgrim’s Pride Co. (NASDAQ:PPC) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,379 shares of the company’s stock, valued at approximately $478,000.

A number of other hedge funds also recently bought and sold shares of the business. AQR Capital Management LLC increased its holdings in shares of Pilgrim’s Pride by 366.1% during the 2nd quarter. AQR Capital Management LLC now owns 638,825 shares of the company’s stock worth $24,320,000 after buying an additional 501,776 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Pilgrim’s Pride by 88.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 433,891 shares of the company’s stock worth $19,981,000 after buying an additional 203,408 shares during the last quarter. Advisors Preferred LLC acquired a new stake in shares of Pilgrim’s Pride during the 1st quarter worth approximately $6,515,000. Vanguard Group Inc. increased its holdings in shares of Pilgrim’s Pride by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 4,233,961 shares of the company’s stock worth $145,310,000 after buying an additional 136,970 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of Pilgrim’s Pride by 68.2% during the 2nd quarter. Marshall Wace LLP now owns 318,688 shares of the company’s stock worth $12,266,000 after buying an additional 129,256 shares during the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Price Performance

Pilgrim’s Pride stock opened at $44.65 on Tuesday. The stock has a market cap of $10.58 billion, a P/E ratio of 21.67, a price-to-earnings-growth ratio of 0.23 and a beta of 0.82. The company has a fifty day simple moving average of $44.40 and a 200-day simple moving average of $39.91. Pilgrim’s Pride Co. has a 12-month low of $23.15 and a 12-month high of $49.07. 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 (NASDAQ:PPC) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.35. Pilgrim’s Pride had a net margin of 4.25% and a return on equity of 25.06%. The business had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.62 billion. During the same period in the previous year, the company earned $0.44 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities analysts expect that Pilgrim’s Pride Co. will post 4.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PPC shares. Barclays lifted their target price on shares of Pilgrim’s Pride from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, September 9th. Argus lifted their target price on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Bank of America cut shares of Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price target for the company. in a research report on Thursday, August 15th. BMO Capital Markets reissued a “market perform” rating and issued a $46.00 price target on shares of Pilgrim’s Pride in a research report on Monday, August 12th. Finally, Stephens started coverage on shares of Pilgrim’s Pride in a research report on Thursday, October 3rd. They issued an “equal weight” rating and a $43.00 price target for the company. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $45.33.

Insider Activity at Pilgrim’s Pride

In related news, CEO Fabio Sandri sold 65,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 279,565 shares of the company’s stock, valued at $12,440,642.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Pilgrim’s Pride news, CFO Matthew R. Galvanoni sold 6,500 shares of Pilgrim’s Pride stock in a transaction 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 transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Fabio Sandri sold 65,000 shares of Pilgrim’s Pride stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $44.50, for a total transaction of $2,892,500.00. Following the completion of the transaction, the chief executive officer now owns 279,565 shares in the company, valued at approximately $12,440,642.50. This 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 corporate insiders.

Pilgrim’s Pride 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.