Pilgrim’s Pride Corporation (NASDAQ:PPC) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its holdings in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 56.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,721 shares of the company’s stock after selling 15,190 shares during the period. Teacher Retirement System of Texas’ holdings in Pilgrim’s Pride were worth $639,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. New Age Alpha Advisors LLC bought a new stake in Pilgrim’s Pride during the fourth quarter worth approximately $249,000. Arrowstreet Capital Limited Partnership boosted its stake in shares of Pilgrim’s Pride by 15.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,377,236 shares of the company’s stock worth $62,513,000 after acquiring an additional 180,164 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Pilgrim’s Pride by 18.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 56,066 shares of the company’s stock worth $3,154,000 after acquiring an additional 8,638 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new position in shares of Pilgrim’s Pride in the 4th quarter worth $551,000. Finally, GAMMA Investing LLC raised its position in shares of Pilgrim’s Pride by 18.6% during the first quarter. GAMMA Investing LLC now owns 3,189 shares of the company’s stock worth $174,000 after purchasing an additional 501 shares during the period. 16.64% of the stock is currently owned by institutional investors.

Pilgrim’s Pride Stock Down 2.3%

Shares of Pilgrim’s Pride stock opened at $44.03 on Wednesday. Pilgrim’s Pride Corporation has a 1 year low of $38.36 and a 1 year high of $57.16. The company has a market cap of $10.44 billion, a P/E ratio of 8.68 and a beta of 0.45. The company has a current ratio of 1.35, a quick ratio of 0.88 and a debt-to-equity ratio of 1.02. The stock has a 50-day moving average price of $46.76 and a 200 day moving average price of $49.11.

Pilgrim’s Pride (NASDAQ:PPC) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.05. The business had revenue of $4.46 billion during the quarter, compared to analyst estimates of $4.53 billion. Pilgrim’s Pride had a net margin of 6.72% and a return on equity of 36.95%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.77 earnings per share. As a group, analysts expect that Pilgrim’s Pride Corporation will post 5.13 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PPC shares. The Goldman Sachs Group initiated coverage on Pilgrim’s Pride in a research report on Monday, June 23rd. They issued a “neutral” rating and a $50.00 price target for the company. Wall Street Zen upgraded shares of Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 21st. Six equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $48.67.

Pilgrim’s Pride Company Profile

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.