Algert Global LLC Grows Stock Holdings in Pilgrim’s Pride Corporation $PPC

Algert Global LLC lifted its holdings in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 140.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 271,947 shares of the company’s stock after acquiring an additional 158,688 shares during the quarter. Algert Global LLC owned 0.11% of Pilgrim’s Pride worth $11,074,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. True Wealth Design LLC boosted its stake in shares of Pilgrim’s Pride by 1,248.5% in the third quarter. True Wealth Design LLC now owns 917 shares of the company’s stock worth $37,000 after buying an additional 849 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new position in shares of Pilgrim’s Pride in the third quarter worth about $41,000. Clearstead Advisors LLC raised its position in shares of Pilgrim’s Pride by 1,522.6% in the third quarter. Clearstead Advisors LLC now owns 1,006 shares of the company’s stock worth $41,000 after acquiring an additional 944 shares during the period. Quent Capital LLC purchased a new stake in shares of Pilgrim’s Pride during the 3rd quarter worth about $55,000. Finally, Rothschild Investment LLC increased its stake in shares of Pilgrim’s Pride by 186,700.0% in the 3rd quarter. Rothschild Investment LLC now owns 1,868 shares of the company’s stock valued at $76,000 after purchasing an additional 1,867 shares in the last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Up 0.1%

PPC stock opened at $36.22 on Monday. The company has a market cap of $8.60 billion, a price-to-earnings ratio of 7.98 and a beta of 0.41. The company has a current ratio of 1.47, a quick ratio of 0.76 and a debt-to-equity ratio of 0.84. Pilgrim’s Pride Corporation has a 12 month low of $35.73 and a 12 month high of $56.73. The firm has a 50-day moving average of $41.42 and a two-hundred day moving average of $40.22.

Pilgrim’s Pride (NASDAQ:PPC) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.14). The company had revenue of $4.52 billion during the quarter, compared to analyst estimates of $4.39 billion. Pilgrim’s Pride had a net margin of 5.85% and a return on equity of 35.15%. Pilgrim’s Pride’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.35 EPS. As a group, analysts forecast that Pilgrim’s Pride Corporation will post 5.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PPC has been the subject of a number of analyst reports. Zacks Research cut Pilgrim’s Pride from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 11th. Wall Street Zen downgraded shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a report on Sunday, February 15th. BMO Capital Markets lifted their target price on shares of Pilgrim’s Pride from $40.00 to $42.00 and gave the company a “market perform” rating in a research report on Friday, February 13th. Barclays cut their target price on shares of Pilgrim’s Pride from $49.00 to $45.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 9th. Finally, Santander upgraded Pilgrim’s Pride from a “neutral” rating to an “outperform” rating in a research report on Thursday, December 11th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Pilgrim’s Pride presently has an average rating of “Hold” and a consensus price target of $44.33.

Insider Buying and Selling at Pilgrim’s Pride

In related news, CFO Matthew R. Galvanoni sold 6,963 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $43.52, for a total value of $303,029.76. Following the sale, the chief financial officer directly owned 91,397 shares in the company, valued at approximately $3,977,597.44. The trade was a 7.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 82.56% of the company’s stock.

About Pilgrim’s Pride

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.