Atria Investments Inc Reduces Holdings in Pilgrim’s Pride Corporation $PPC

Atria Investments Inc decreased its stake in shares of Pilgrim’s Pride Corporation (NASDAQ:PPC) by 22.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,018 shares of the company’s stock after selling 1,481 shares during the period. Atria Investments Inc’s holdings in Pilgrim’s Pride were worth $226,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Brooklyn Investment Group boosted its position in Pilgrim’s Pride by 309.4% during the 1st quarter. Brooklyn Investment Group now owns 651 shares of the company’s stock valued at $35,000 after acquiring an additional 492 shares in the last quarter. Quarry LP bought a new stake in shares of Pilgrim’s Pride during the first quarter valued at approximately $43,000. Ameritas Advisory Services LLC purchased a new stake in Pilgrim’s Pride in the second quarter worth $45,000. Caitong International Asset Management Co. Ltd raised its holdings in Pilgrim’s Pride by 117.5% in the second quarter. Caitong International Asset Management Co. Ltd now owns 1,231 shares of the company’s stock worth $55,000 after purchasing an additional 665 shares in the last quarter. Finally, Rosenberg Matthew Hamilton purchased a new position in Pilgrim’s Pride during the second quarter valued at $62,000. 16.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

PPC has been the subject of several research reports. Zacks Research upgraded shares of Pilgrim’s Pride from a “strong sell” rating to a “hold” rating in a research note on Friday, November 7th. Wall Street Zen downgraded shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings cut Pilgrim’s Pride from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, November 7th. Finally, The Goldman Sachs Group cut their price target on Pilgrim’s Pride from $54.00 to $46.00 and set a “neutral” rating on the stock in a research note on Monday, October 13th. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Pilgrim’s Pride currently has an average rating of “Hold” and an average price target of $47.00.

Pilgrim’s Pride Trading Down 0.8%

Shares of NASDAQ PPC opened at $37.65 on Friday. The firm’s 50 day moving average price is $39.55 and its 200-day moving average price is $44.44. Pilgrim’s Pride Corporation has a 52-week low of $35.73 and a 52-week high of $57.16. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.88 and a current ratio of 1.63. The company has a market cap of $8.94 billion, a PE ratio of 7.30 and a beta of 0.48.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.11. The company had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.65 billion. Pilgrim’s Pride had a net margin of 6.70% and a return on equity of 37.75%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.63 earnings per share. On average, equities research analysts expect that Pilgrim’s Pride Corporation will post 5.13 EPS for the current fiscal year.

Pilgrim’s Pride 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.