8,968 Shares in Pilgrim’s Pride Co. (NASDAQ:PPC) Bought by Norden Group LLC

Norden Group LLC acquired a new position in Pilgrim’s Pride Co. (NASDAQ:PPC) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,968 shares of the company’s stock, valued at approximately $308,000.

A number of other large investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its holdings in Pilgrim’s Pride by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,691,177 shares of the company’s stock worth $102,097,000 after purchasing an additional 72,446 shares in the last quarter. Van ECK Associates Corp lifted its position in Pilgrim’s Pride by 33.9% during the 4th quarter. Van ECK Associates Corp now owns 1,299,313 shares of the company’s stock worth $35,939,000 after acquiring an additional 328,660 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Pilgrim’s Pride by 1.1% during the 4th 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 during the last quarter. Norges Bank acquired a new position in Pilgrim’s Pride during the 4th quarter worth $7,856,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Pilgrim’s Pride by 0.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 238,649 shares of the company’s stock worth $8,190,000 after acquiring an additional 1,647 shares during the last quarter. 16.64% of the stock is currently owned by institutional investors.

Pilgrim’s Pride Trading Up 0.4 %

Shares of NASDAQ PPC opened at $38.08 on Friday. The company’s 50 day simple moving average is $36.75 and its 200 day simple moving average is $33.22. Pilgrim’s Pride Co. has a fifty-two week low of $22.33 and a fifty-two week high of $39.00. The firm has a market capitalization of $9.02 billion, a P/E ratio of 18.49, a P/E/G ratio of 0.25 and a beta of 0.78. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.83 and a quick ratio of 1.01.

Pilgrim’s Pride (NASDAQ:PPC) last posted its earnings results on Wednesday, May 1st. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.17. The company had revenue of $4.36 billion for the quarter, compared to analyst estimates of $4.45 billion. Pilgrim’s Pride had a net margin of 2.80% and a return on equity of 17.35%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the business posted $0.08 earnings per share. On average, analysts predict that Pilgrim’s Pride Co. will post 4.25 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PPC shares. Barclays reissued an “equal weight” rating and set a $38.00 target price (up previously from $35.00) on shares of Pilgrim’s Pride in a research report on Tuesday, April 16th. Bank of America upped their price objective on shares of Pilgrim’s Pride from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com raised shares of Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 3rd. Argus began coverage on shares of Pilgrim’s Pride in a research report on Tuesday, June 18th. They set a “buy” rating and a $41.00 price objective for the company. Finally, The Goldman Sachs Group upped their price objective on shares of Pilgrim’s Pride from $32.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.40.

Pilgrim’s Pride Company 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.