Inspire Investing LLC Sells 4,146 Shares of Pilgrim’s Pride Co. (NASDAQ:PPC)

Inspire Investing LLC lessened its position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 15.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,072 shares of the company’s stock after selling 4,146 shares during the period. Inspire Investing LLC’s holdings in Pilgrim’s Pride were worth $888,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Arizona State Retirement System increased its position in Pilgrim’s Pride by 1.9% during the second quarter. Arizona State Retirement System now owns 13,259 shares of the company’s stock worth $510,000 after acquiring an additional 244 shares during the period. Bayesian Capital Management LP grew its position in shares of Pilgrim’s Pride by 2.6% during the 1st quarter. Bayesian Capital Management LP now owns 11,382 shares of the company’s stock worth $391,000 after purchasing an additional 290 shares in the last quarter. Bleakley Financial Group LLC increased its holdings in shares of Pilgrim’s Pride by 2.2% during the first quarter. Bleakley Financial Group LLC now owns 13,714 shares of the company’s stock worth $471,000 after purchasing an additional 301 shares during the period. Norden Group LLC raised its position in shares of Pilgrim’s Pride by 3.6% in the second quarter. Norden Group LLC now owns 9,290 shares of the company’s stock valued at $358,000 after buying an additional 322 shares in the last quarter. Finally, SummerHaven Investment Management LLC boosted its stake in shares of Pilgrim’s Pride by 1.3% in the second quarter. SummerHaven Investment Management LLC now owns 31,437 shares of the company’s stock valued at $1,210,000 after buying an additional 413 shares during the period. Institutional investors and hedge funds own 16.64% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on PPC. Barclays lifted their price objective on Pilgrim’s Pride from $43.00 to $45.00 and gave the company an “equal weight” rating in a report on Monday, September 9th. Bank of America cut Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price target on the stock. in a research report on Thursday, August 15th. BMO Capital Markets reaffirmed a “market perform” rating and set a $46.00 price objective on shares of Pilgrim’s Pride in a research report on Monday, August 12th. Finally, Argus raised their target price on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Pilgrim’s Pride has a consensus rating of “Moderate Buy” and an average target price of $45.80.

Pilgrim’s Pride Stock Performance

Pilgrim’s Pride stock opened at $41.77 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.82 and a debt-to-equity ratio of 0.85. The stock has a market cap of $9.90 billion, a PE ratio of 20.28, a P/E/G ratio of 0.21 and a beta of 0.82. Pilgrim’s Pride Co. has a 12-month low of $22.33 and a 12-month high of $47.44. The business’s 50-day moving average price is $42.92 and its two-hundred day moving average price is $38.25.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.35. Pilgrim’s Pride had a net margin of 4.25% and a return on equity of 25.06%. The company had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.62 billion. During the same period in the previous year, the firm posted $0.44 EPS. The firm’s revenue was up 5.8% on a year-over-year basis. As a group, analysts expect that Pilgrim’s Pride Co. will post 4.79 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Fabio Sandri sold 65,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $44.50, for a total transaction of $2,892,500.00. Following the sale, the chief executive officer now owns 279,565 shares in the company, valued at approximately $12,440,642.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Matthew R. Galvanoni sold 6,500 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $43.31, for a total value of $281,515.00. Following the sale, the chief financial officer now owns 51,750 shares of the company’s stock, valued at $2,241,292.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Fabio Sandri sold 65,000 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $44.50, for a total value of $2,892,500.00. Following the completion of the sale, the chief executive officer now owns 279,565 shares of the company’s stock, valued at $12,440,642.50. The disclosure for this sale can be found here. 82.63% of the stock is owned by corporate insiders.

Pilgrim’s Pride Profile

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.