Strategic Global Advisors LLC Sells 17,576 Shares of Pilgrim’s Pride Corporation (PPC)

Strategic Global Advisors LLC lessened its holdings in Pilgrim’s Pride Corporation (NASDAQ:PPC) by 38.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,335 shares of the company’s stock after selling 17,576 shares during the quarter. Strategic Global Advisors LLC’s holdings in Pilgrim’s Pride Corporation were worth $621,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Pilgrim’s Pride Corporation by 6.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,668 shares of the company’s stock worth $105,000 after purchasing an additional 267 shares during the period. Seven Eight Capital LP purchased a new stake in Pilgrim’s Pride Corporation in the second quarter worth about $134,000. Amalgamated Bank purchased a new stake in Pilgrim’s Pride Corporation in the second quarter worth about $219,000. Regentatlantic Capital LLC purchased a new stake in Pilgrim’s Pride Corporation in the second quarter worth about $220,000. Finally, TrimTabs Asset Management LLC grew its holdings in Pilgrim’s Pride Corporation by 105.0% in the second quarter. TrimTabs Asset Management LLC now owns 10,281 shares of the company’s stock worth $225,000 after purchasing an additional 5,265 shares during the period. Institutional investors and hedge funds own 24.34% of the company’s stock.

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Pilgrim’s Pride Corporation (NASDAQ:PPC) traded up 2.96% during midday trading on Friday, hitting $29.56. 1,784,865 shares of the stock were exchanged. The company has a market cap of $7.35 billion, a PE ratio of 14.91 and a beta of 0.13. Pilgrim’s Pride Corporation has a 12 month low of $17.15 and a 12 month high of $29.86. The firm’s 50 day moving average price is $27.67 and its 200 day moving average price is $24.18.

Pilgrim’s Pride Corporation (NASDAQ:PPC) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.83 by $0.11. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.28 billion. Pilgrim’s Pride Corporation had a net margin of 6.05% and a return on equity of 49.65%. Pilgrim’s Pride Corporation’s revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.60 EPS. On average, equities research analysts forecast that Pilgrim’s Pride Corporation will post $2.50 earnings per share for the current fiscal year.

A number of equities research analysts have weighed in on PPC shares. ValuEngine upgraded shares of Pilgrim’s Pride Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. BidaskClub cut shares of Pilgrim’s Pride Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Jefferies Group LLC set a $25.00 price objective on shares of Pilgrim’s Pride Corporation and gave the stock a “hold” rating in a report on Tuesday, August 15th. Zacks Investment Research upgraded shares of Pilgrim’s Pride Corporation from a “hold” rating to a “strong-buy” rating and set a $28.00 price objective on the stock in a report on Wednesday, August 2nd. Finally, Vertical Group cut shares of Pilgrim’s Pride Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, September 5th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating, one has issued a buy rating and three have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $24.50.

About Pilgrim’s Pride Corporation

Pilgrim’s Pride Corporation is a retail feed store. It is a producer and seller of chicken with operations in the United States, Mexico and Puerto Rico. It is engaged in the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and foodservice operators.

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

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