Headlands Technologies LLC Raises Stock Holdings in Pilgrim’s Pride Co. (NASDAQ:PPC)

Headlands Technologies LLC raised its position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) by 363.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,127 shares of the company’s stock after acquiring an additional 4,021 shares during the period. Headlands Technologies LLC’s holdings in Pilgrim’s Pride were worth $197,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Arizona State Retirement System increased its position in shares of Pilgrim’s Pride by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 13,259 shares of the company’s stock valued at $510,000 after purchasing an additional 244 shares during the last quarter. Bayesian Capital Management LP increased 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 valued at $391,000 after purchasing an additional 290 shares during the last quarter. Bleakley Financial Group LLC increased its position in shares of Pilgrim’s Pride by 2.2% during the 1st quarter. Bleakley Financial Group LLC now owns 13,714 shares of the company’s stock valued at $471,000 after purchasing an additional 301 shares during the last quarter. Norden Group LLC increased its position in shares of Pilgrim’s Pride by 3.6% during the 2nd quarter. Norden Group LLC now owns 9,290 shares of the company’s stock valued at $358,000 after purchasing an additional 322 shares during the last quarter. Finally, SummerHaven Investment Management LLC grew its position in Pilgrim’s Pride by 1.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 31,437 shares of the company’s stock valued at $1,210,000 after acquiring an additional 413 shares during the last quarter. 16.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Pilgrim’s Pride

In other Pilgrim’s Pride news, CFO Matthew R. Galvanoni sold 6,500 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $43.31, for a total value of $281,515.00. Following the completion of the sale, the chief financial officer now directly owns 51,750 shares in the company, valued at $2,241,292.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Matthew R. Galvanoni sold 6,500 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $43.31, for a total value of $281,515.00. Following the transaction, the chief financial officer now directly owns 51,750 shares of the company’s stock, valued at $2,241,292.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Fabio Sandri sold 65,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 279,565 shares in the company, valued at $12,440,642.50. The disclosure for this sale can be found here. 82.63% of the stock is currently owned by company insiders.

Pilgrim’s Pride Trading Down 2.2 %

Shares of NASDAQ PPC opened at $40.37 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.82 and a quick ratio of 1.09. The stock has a market capitalization of $9.57 billion, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 0.21 and a beta of 0.82. Pilgrim’s Pride Co. has a 1-year low of $22.33 and a 1-year high of $47.44. The business has a fifty day moving average price of $42.54 and a 200 day moving average price of $37.95.

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

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.