9,386 Shares in Pilgrim’s Pride Co. (NASDAQ:PPC) Acquired by Boothbay Fund Management LLC

Posted by Defense World Staff on Mar 6th, 2023

Boothbay Fund Management LLC bought a new stake in Pilgrim’s Pride Co. (NASDAQ:PPC – Get Rating) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,386 shares of the company’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PPC. Newbridge Financial Services Group Inc. increased its position in Pilgrim’s Pride by 158.6% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 1,267 shares of the company’s stock valued at $29,000 after acquiring an additional 777 shares during the period. Ronald Blue Trust Inc. raised its position in Pilgrim’s Pride by 635.6% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,427 shares of the company’s stock worth $45,000 after purchasing an additional 1,233 shares during the last quarter. Captrust Financial Advisors lifted its holdings in Pilgrim’s Pride by 114.3% during the 2nd quarter. Captrust Financial Advisors now owns 1,479 shares of the company’s stock worth $46,000 after buying an additional 789 shares during the period. AdvisorShares Investments LLC bought a new stake in shares of Pilgrim’s Pride in the 2nd quarter valued at about $46,000. Finally, Atlas Capital Advisors LLC bought a new position in shares of Pilgrim’s Pride during the second quarter worth about $53,000. Institutional investors own 16.81% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on PPC. StockNews.com downgraded shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research report on Friday, February 17th. Stephens reissued an “equal weight” rating and set a $23.00 target price on shares of Pilgrim’s Pride in a research note on Thursday, February 9th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Pilgrim’s Pride has an average rating of “Hold” and a consensus price target of $29.00.

Insider Activity at Pilgrim’s Pride

In other Pilgrim’s Pride news, CEO Fabio Sandri sold 12,234 shares of the stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $24.36, for a total value of $298,020.24. Following the transaction, the chief executive officer now owns 248,111 shares in the company, valued at $6,043,983.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Pilgrim’s Pride news, CEO Fabio Sandri sold 12,234 shares of the business’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $24.36, for a total transaction of $298,020.24. Following the completion of the sale, the chief executive officer now owns 248,111 shares in the company, valued at approximately $6,043,983.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Matthew R. Galvanoni sold 2,805 shares of the firm’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $24.36, for a total transaction of $68,329.80. Following the completion of the transaction, the chief financial officer now directly owns 31,053 shares in the company, valued at $756,451.08. The disclosure for this sale can be found here. 80.54% of the stock is currently owned by corporate insiders.

Pilgrim’s Pride Price Performance

Shares of PPC opened at $24.21 on Monday. The firm has a market cap of $5.72 billion, a PE ratio of 7.89, a price-to-earnings-growth ratio of 3.07 and a beta of 0.99. Pilgrim’s Pride Co. has a 52-week low of $20.23 and a 52-week high of $34.66. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.74 and a current ratio of 1.51. The business’s 50 day moving average price is $24.67 and its two-hundred day moving average price is $24.85.

Pilgrim’s Pride (NASDAQ:PPC – Get Rating) last posted its quarterly earnings results on Thursday, February 9th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.56). Pilgrim’s Pride had a return on equity of 28.55% and a net margin of 4.27%. The company had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.03 billion. During the same quarter in the previous year, the business posted $0.56 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities analysts anticipate that Pilgrim’s Pride Co. will post 1.33 EPS for the current year.

Pilgrim’s Pride Profile

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Pilgrim’s Pride Corp. engages in the production, processing, marketing, and distribution of fresh, frozen and value-added chicken and pork products to retailers, distributors, and foodservice operators. It operates through the following segments: U.S., U.K. and Europe, and Mexico. The company was founded by Lonnie A.