Texas Permanent School Fund Sells 2,153 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Texas Permanent School Fund decreased its stake in shares of Pilgrim’s Pride Co. (NASDAQ:PPCGet Rating) by 6.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,666 shares of the company’s stock after selling 2,153 shares during the period. Texas Permanent School Fund’s holdings in Pilgrim’s Pride were worth $752,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James & Associates increased its holdings in Pilgrim’s Pride by 24.9% during the third quarter. Raymond James & Associates now owns 9,005 shares of the company’s stock valued at $207,000 after buying an additional 1,797 shares during the last quarter. Ronald Blue Trust Inc. increased its holdings in Pilgrim’s Pride by 635.6% during the third quarter. Ronald Blue Trust Inc. now owns 1,427 shares of the company’s stock valued at $45,000 after buying an additional 1,233 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Pilgrim’s Pride by 1,806.6% during the third quarter. State of Alaska Department of Revenue now owns 132,984 shares of the company’s stock valued at $3,061,000 after buying an additional 126,009 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in Pilgrim’s Pride during the third quarter valued at approximately $279,000. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in Pilgrim’s Pride by 705.1% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 67,559 shares of the company’s stock valued at $1,555,000 after buying an additional 59,168 shares during the last quarter. Institutional investors own 16.81% of the company’s stock.

Pilgrim’s Pride Price Performance

Shares of NASDAQ:PPC opened at $25.82 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.80 and a current ratio of 1.55. The firm has a fifty day moving average price of $24.79 and a 200 day moving average price of $26.40. Pilgrim’s Pride Co. has a fifty-two week low of $20.23 and a fifty-two week high of $34.66. The firm has a market cap of $6.11 billion, a price-to-earnings ratio of 6.65, a P/E/G ratio of 2.30 and a beta of 0.96.

Pilgrim’s Pride (NASDAQ:PPCGet Rating) last issued its earnings results on Wednesday, October 26th. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.22. Pilgrim’s Pride had a net margin of 5.40% and a return on equity of 38.44%. The firm had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.48 billion. During the same quarter in the prior year, the business earned $0.67 earnings per share. Pilgrim’s Pride’s revenue for the quarter was up 16.8% on a year-over-year basis. As a group, sell-side analysts expect that Pilgrim’s Pride Co. will post 3.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on PPC shares. Barclays reduced their price objective on shares of Pilgrim’s Pride from $36.00 to $29.00 and set an “overweight” rating for the company in a research note on Tuesday, October 25th. The Goldman Sachs Group reduced their price objective on shares of Pilgrim’s Pride from $32.00 to $28.00 and set a “neutral” rating for the company in a research note on Tuesday, October 18th. Finally, StockNews.com cut shares of Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research note on Friday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $32.00.

About Pilgrim’s Pride

(Get Rating)

Pilgrim's Pride Corporation engages in the production, processing, marketing and distribution of fresh, frozen and value-added chicken, and pork products to retailers, distributors, and foodservice operators in the United States, the United Kingdom, Mexico, the Middle East, Asia, Continental Europe, and internationally.

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

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