UBS Group AG lowered its holdings in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC – Free Report) by 12.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 464,392 shares of the company’s stock after selling 66,808 shares during the period. UBS Group AG’s holdings in Pilgrim’s Pride were worth $18,107,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Advisors Preferred LLC bought a new stake in shares of Pilgrim’s Pride during the third quarter valued at about $1,858,000. Barings LLC bought a new position in Pilgrim’s Pride in the 3rd quarter valued at about $1,335,000. Accredited Wealth Management LLC increased its stake in Pilgrim’s Pride by 3,257.0% during the 3rd quarter. Accredited Wealth Management LLC now owns 30,213 shares of the company’s stock valued at $1,230,000 after buying an additional 29,313 shares during the period. Quantbot Technologies LP increased its stake in Pilgrim’s Pride by 163.4% during the 3rd quarter. Quantbot Technologies LP now owns 117,781 shares of the company’s stock valued at $4,796,000 after buying an additional 73,068 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Pilgrim’s Pride by 10.0% during the 3rd quarter. Vanguard Group Inc. now owns 5,672,728 shares of the company’s stock worth $230,993,000 after buying an additional 516,598 shares in the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.
Pilgrim’s Pride Price Performance
Shares of Pilgrim’s Pride stock opened at $28.66 on Wednesday. Pilgrim’s Pride Corporation has a 52 week low of $28.28 and a 52 week high of $51.45. The company has a current ratio of 1.48, a quick ratio of 0.73 and a debt-to-equity ratio of 0.83. The stock has a market cap of $6.82 billion, a PE ratio of 7.68 and a beta of 0.33. The company’s 50-day moving average price is $35.42 and its two-hundred day moving average price is $38.36.
Wall Street Analysts Forecast Growth
PPC has been the subject of a number of research analyst reports. Barclays raised shares of Pilgrim’s Pride from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $45.00 to $42.00 in a research note on Friday, May 1st. Stephens set a $40.00 target price on Pilgrim’s Pride in a report on Wednesday, April 15th. BMO Capital Markets cut their target price on Pilgrim’s Pride from $42.00 to $40.00 and set a “market perform” rating for the company in a research report on Wednesday, March 25th. The Goldman Sachs Group decreased their price target on Pilgrim’s Pride from $44.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. Finally, Wall Street Zen cut Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research report on Sunday, February 15th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $40.25.
View Our Latest Research Report on Pilgrim’s Pride
Insider Buying and Selling
In related news, CFO Matthew R. Galvanoni sold 6,963 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $43.52, for a total transaction of $303,029.76. Following the completion of the sale, the chief financial officer directly owned 91,397 shares in the company, valued at approximately $3,977,597.44. This trade represents a 7.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 82.23% of the stock is currently owned by corporate insiders.
Pilgrim’s Pride Profile
Pilgrim’s Pride Corporation is a leading poultry producer in the United States and Mexico and a wholly owned subsidiary of JBS SA Headquartered in Greeley, Colorado, and Pittsburg, Texas, the company specializes in the production, processing and distribution of fresh, frozen and value-added chicken products. Pilgrim’s Pride serves a diverse customer base that includes retail grocery chains, foodservice distributors and restaurant operators across North America and in select international markets.
The company’s vertically integrated operations encompass breeding, hatching, feed milling, processing plants and cold storage facilities.
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