SignalPoint Asset Management LLC Invests $360,000 in Pilgrim’s Pride Co. (NASDAQ:PPC)

SignalPoint Asset Management LLC purchased a new position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 11,233 shares of the company’s stock, valued at approximately $360,000.

Several other large investors have also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. increased its holdings in Pilgrim’s Pride by 75.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 217,854 shares of the company’s stock valued at $6,981,000 after purchasing an additional 93,628 shares in the last quarter. Northpointe Capital LLC increased its holdings in Pilgrim’s Pride by 19.6% in the 3rd quarter. Northpointe Capital LLC now owns 96,209 shares of the company’s stock valued at $3,083,000 after purchasing an additional 15,792 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in Pilgrim’s Pride in the 3rd quarter valued at $603,000. Verde Servicos Internacionais S.A. acquired a new stake in Pilgrim’s Pride in the 3rd quarter valued at $370,000. Finally, State of Alaska Department of Revenue increased its holdings in Pilgrim’s Pride by 61.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 9,305 shares of the company’s stock valued at $298,000 after purchasing an additional 3,531 shares in the last quarter. 19.75% of the stock is currently owned by institutional investors and hedge funds.

Shares of PPC stock traded down $0.26 during trading hours on Friday, hitting $28.67. 883,913 shares of the company were exchanged, compared to its average volume of 1,435,287. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.93 and a current ratio of 1.78. Pilgrim’s Pride Co. has a one year low of $14.83 and a one year high of $32.71. The business’s 50-day simple moving average is $30.85 and its two-hundred day simple moving average is $27.77. The stock has a market capitalization of $7.21 billion, a price-to-earnings ratio of 21.59 and a beta of 0.75.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.60 by $0.09. Pilgrim’s Pride had a net margin of 2.53% and a return on equity of 15.58%. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.86 billion. During the same quarter last year, the company posted $0.53 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. As a group, analysts anticipate that Pilgrim’s Pride Co. will post 1.97 EPS for the current fiscal year.

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In other Pilgrim’s Pride news, CEO Jayson Penn sold 51,222 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $28.29, for a total value of $1,449,070.38. Following the transaction, the chief executive officer now owns 204,408 shares of the company’s stock, valued at $5,782,702.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Fabio Sandri sold 74,710 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $28.27, for a total transaction of $2,112,051.70. Following the completion of the transaction, the chief financial officer now directly owns 326,363 shares in the company, valued at approximately $9,226,282.01. The disclosure for this sale can be found here. Company insiders own 78.73% of the company’s stock.

Several brokerages have recently weighed in on PPC. Mizuho raised their target price on Pilgrim’s Pride from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Zacks Investment Research downgraded Pilgrim’s Pride from a “strong-buy” rating to a “hold” rating and set a $37.00 target price for the company. in a research note on Tuesday, October 1st. BMO Capital Markets upgraded Pilgrim’s Pride from a “market perform” rating to an “outperform” rating and raised their target price for the company from $31.00 to $36.00 in a research note on Tuesday, August 20th. BidaskClub downgraded Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, ValuEngine downgraded Pilgrim’s Pride from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $32.20.

About Pilgrim’s Pride

Pilgrim's Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products in the United States, the United Kingdom, Europe, and Mexico. The company offers fresh chicken products, including pre-marinated or non-marinated refrigerated (nonfrozen) whole or cut-up chicken; and prepackaged case-ready chicken, such as whole chickens and chicken parts.

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Want to see what other hedge funds are holding PPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pilgrim’s Pride Co. (NASDAQ:PPC).

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

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