Pilgrim’s Pride Corporation $PPC Shares Sold by Signet Financial Management LLC

Signet Financial Management LLC decreased its position in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 42.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,162 shares of the company’s stock after selling 21,555 shares during the period. Signet Financial Management LLC’s holdings in Pilgrim’s Pride were worth $1,137,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Advisors Preferred LLC purchased a new stake in Pilgrim’s Pride in the 3rd quarter valued at about $1,858,000. Barings LLC purchased a new position in Pilgrim’s Pride in the 3rd quarter valued at approximately $1,335,000. Quantbot Technologies LP grew its stake in Pilgrim’s Pride by 163.4% during the 3rd quarter. Quantbot Technologies LP now owns 117,781 shares of the company’s stock worth $4,796,000 after purchasing an additional 73,068 shares in the last quarter. Accredited Wealth Management LLC grew its position in shares of Pilgrim’s Pride by 3,257.0% during the third quarter. Accredited Wealth Management LLC now owns 30,213 shares of the company’s stock worth $1,230,000 after buying an additional 29,313 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Pilgrim’s Pride by 10.0% during the third quarter. Vanguard Group Inc. now owns 5,672,728 shares of the company’s stock worth $230,993,000 after purchasing an additional 516,598 shares in the last quarter. Institutional investors and hedge funds own 16.64% of the company’s stock.

Pilgrim’s Pride Stock Performance

NASDAQ PPC opened at $35.23 on Monday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.47 and a quick ratio of 0.76. Pilgrim’s Pride Corporation has a 1-year low of $34.96 and a 1-year high of $56.73. The firm has a market capitalization of $8.37 billion, a P/E ratio of 7.76 and a beta of 0.41. The business’s 50-day simple moving average is $41.22 and its 200-day simple moving average is $39.95.

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

Insider Transactions at Pilgrim’s Pride

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

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Zacks Research lowered 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 research report on Sunday, February 15th. Barclays reduced their price target on Pilgrim’s Pride from $49.00 to $45.00 and set an “equal weight” rating for the company in a report on Tuesday, December 9th. BMO Capital Markets boosted their price objective on shares of Pilgrim’s Pride from $40.00 to $42.00 and gave the stock a “market perform” rating in a report on Friday, February 13th. Finally, Santander raised Pilgrim’s Pride from a “neutral” rating to an “outperform” rating in a report on Thursday, December 11th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $44.33.

Pilgrim’s Pride Profile

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.