Access Investment Management LLC Makes New $1 Million Investment in Pilgrim’s Pride Co. (NASDAQ:PPC)

Access Investment Management LLC acquired a new stake in Pilgrim’s Pride Co. (NASDAQ:PPCFree Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 36,175 shares of the company’s stock, valued at approximately $1,001,000.

A number of other hedge funds also recently made changes to their positions in PPC. Charles Schwab Investment Management Inc. lifted its stake in shares of Pilgrim’s Pride by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 734,588 shares of the company’s stock worth $20,319,000 after acquiring an additional 8,173 shares in the last quarter. Amalgamated Bank raised its position in shares of Pilgrim’s Pride by 8.2% in the 4th quarter. Amalgamated Bank now owns 25,244 shares of the company’s stock valued at $698,000 after purchasing an additional 1,921 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new position in shares of Pilgrim’s Pride during the 4th quarter valued at approximately $861,000. Kestra Private Wealth Services LLC acquired a new stake in shares of Pilgrim’s Pride during the fourth quarter worth approximately $259,000. Finally, Van ECK Associates Corp increased its stake in shares of Pilgrim’s Pride by 33.9% in the fourth quarter. Van ECK Associates Corp now owns 1,299,313 shares of the company’s stock worth $35,939,000 after buying an additional 328,660 shares during the last quarter. Hedge funds and other institutional investors own 16.64% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on PPC shares. The Goldman Sachs Group upped their price objective on Pilgrim’s Pride from $32.00 to $36.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Bank of America lifted their price objective on shares of Pilgrim’s Pride from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, April 15th. TheStreet raised shares of Pilgrim’s Pride from a “c+” rating to a “b+” rating in a report on Monday, February 26th. BMO Capital Markets lifted their price target on shares of Pilgrim’s Pride from $32.00 to $35.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. Finally, StockNews.com upgraded shares of Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Pilgrim’s Pride has a consensus rating of “Moderate Buy” and an average price target of $37.25.

Check Out Our Latest Stock Analysis on PPC

Insider Activity

In other Pilgrim’s Pride news, CEO Fabio Sandri sold 40,000 shares of Pilgrim’s Pride stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $33.32, for a total transaction of $1,332,800.00. Following the completion of the sale, the chief executive officer now owns 257,065 shares of the company’s stock, valued at approximately $8,565,405.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 82.63% of the stock is currently owned by corporate insiders.

Pilgrim’s Pride Price Performance

Shares of NASDAQ PPC traded down $0.35 during midday trading on Friday, reaching $37.13. The company’s stock had a trading volume of 595,232 shares, compared to its average volume of 659,103. Pilgrim’s Pride Co. has a one year low of $19.96 and a one year high of $37.82. The company has a market cap of $8.80 billion, a price-to-earnings ratio of 18.02, a price-to-earnings-growth ratio of 0.28 and a beta of 0.77. The company has a 50 day moving average price of $34.82 and a 200 day moving average price of $29.84. The company has a current ratio of 1.83, a quick ratio of 1.01 and a debt-to-equity ratio of 0.96.

Pilgrim’s Pride (NASDAQ:PPCGet Free Report) last announced its earnings results on Wednesday, May 1st. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.17. Pilgrim’s Pride had a return on equity of 17.35% and a net margin of 2.80%. The company had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.45 billion. During the same period in the previous year, the firm earned $0.08 earnings per share. Pilgrim’s Pride’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts expect that Pilgrim’s Pride Co. will post 3.64 EPS for the current year.

Pilgrim’s Pride Profile

(Free Report)

Pilgrim's Pride Corporation produces, processes, markets, and distributes fresh, frozen, and value-added chicken and pork products to retailers, distributors, and foodservice operators. The company offers fresh products, including refrigerated whole or cut-up chicken, selected chicken parts that are either marinated or non-marinated, primary pork cuts, added value pork, and pork ribs; and prepared products, which include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, processed sausages, bacon, smoked meat, gammon joints, pre-packed meats, sandwich and deli counter meats and meat balls.

Further Reading

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Institutional Ownership by Quarter for Pilgrim's Pride (NASDAQ:PPC)

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